Chicago (CBS) — The Chicago Bears talked about moving to Arlington Heights many times decades ago, but this time it’s not.
on Wednesday, Bears confirmed They signed a $ 197 million deal to buy the Arlington International Racecourse, which hosted the last racetrack last weekend.
As Jim Williams of CBS 2 reported, Bears is not yet ready to hire a construction crew. However, the purchase deal means that you can count their days here in Soldier Field.
For a century, Bears have been playing home games in the city itself. They shared Wrigley Field with the Cubs from 1921 to 1970 and have called Soldier Field their hometown since 1971.
“Yesterday’s news wasn’t unexpected,” said Mayor Lori Lightfoot.
Mayor Lightfoot claimed he wasn’t throwing towels, but didn’t provide details on what he could do to keep Bears away from the city and Arlington Heights.
“I want to talk to them. I want to do what I can,” said Mayor Lightfoot. “I’m a Bears fan first and foremost. I want them to stay in the designated city. And if we can keep them here, we’ll keep them here. increase.”
Twenty years ago, Soldier Field was rebuilt from scratch. Only the historic look remains.
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At the time, David Doig was CEO and General Manager of the Chicago Park District, which owns the stadium.
“I think the Bears saw it as a good opportunity. Indeed, they have benefited from being on the lakeside and in Soldier Field for the past 20 years,” Doig said Wednesday.
The reconstruction cost $ 690 million, of which $ 432 million was borne by taxpayers. Bears earned more from more skyboxes, as well as cash from parking lots and concessions.
“There were some sweeteners added to the deal to fundamentally enhance Bears’ earnings options at the time,” said Doig. “Well, I don’t know if it’s a good deal today.”
Indeed, Bears believes it is not ideal today. The 61,000-seat Soldier Field is the smallest stadium in the NFL. The much larger football palaces, including the latest two palaces in Los Angeles and Las Vegas, show that the Bears can make more money.
“Bears are making business decisions with their purchases, and we’ll see what happens there,” Wrightfoot said. “We also have to make business decisions here in Chicago.”
This is a balancing act for the mayor, who is in tight financial condition. Bears, meanwhile, said more work needed to be done before “closing the deal.”
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Bears typically sells $ 75 million annually in Soldier Field. NFL TV revenues far exceed that, reaching hundreds of millions of dollars.
Mayor Lightfoot claims she hasn’t given up, but doesn’t provide details on plans to prevent bears from moving to Arlington Heights – CBS Chicago
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