Staff Reports
Illinois lawmakers are back at the state capital to continue their spring session, and one important topic on the agenda is the Chicago Bears’ proposed new stadium. The football team recently revealed a plan for a state-of-the-art enclosed stadium which comes with a hefty price tag of nearly $5 billion. The Bears are seeking taxpayer funding to help make their vision a reality, with $3.2 billion allocated for the new stadium and an additional $1.5 billion for infrastructure.
During the unveiling of the proposal, Bears President and CEO, Kevin Warren, emphasized the significance of the project, expressing the team’s desire to bring the grand vision to fruition in Chicago. The Bears are keen on having state lawmakers take action before the spring legislative session ends, warning that costs will only increase if there are delays.
Even the Chicago Bears’ long odds of winning next year’s Super Bowl seem better than the team’s chances of convincing Illinois lawmakers to approve $900 million of borrowing to build a new $3.2 billion stadium https://t.co/2Z7CSlFC6V via @citylab
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To show their commitment to the project, the Bears have pledged over $2 billion for the stadium, making it one of the biggest public-private partnerships in the country. However, the team will also need substantial financial support for infrastructure work, which requires approval from the Illinois General Assembly and the governor.
While the Bears are touting the economic benefits of the project, Illinois Treasurer Michael Frerichs raised the concern that there may be other pressing priorities for legislators to consider. He highlighted the need for investments in schools, housing, and infrastructure, emphasizing the importance of lawmakers weighing these costs against the proposed stadium funding.
Congressman Danny Davis added his perspective, emphasizing the significance of sports activities in the local economy and expressing the importance of keeping the Bears in Chicago. As the spring session of the legislature resumes, the debate over the Chicago Bears stadium proposal is expected to be a focal point of discussion.
