The Chicago Bears have faced significant backlash regarding their proposal for a new stadium, which involves a substantial financial burden on taxpayers, estimated at $2 billion. Critics have strongly advised the NFL team to fund the stadium themselves, with suggestions to 'pay for their own damn stadium' and to 'go jump in Lake Michigan' if they disagree. The proposal not only includes the initial costs but also accounts for interest and other long-term expenses, potentially bringing the total to $4.8 billion over four decades, with the unprecedented 40-year length of the ISFA bonds. Mayor Brandon Johnson has shown support for the project, describing the proposed futuristic oval-shaped stadium with a translucent roof as 'miraculous.' However, the plan has sparked controversy among local residents and politicians, with concerns about the financial implications and the Bears' desire to control all concert revenue, a significant current revenue source for Chicago Parks.
Column: Suuuure, give the Chicago Bears whatever they want for a new stadium after that pitch. https://t.co/pEVk6oFwUF
Chicago’s progressive movement has championed social justice interests from good government advocates to labor rabble-rousers. But now, Mayor Brandon Johnson hopes to shoehorn a wealthy new group into the fold: the Chicago Bears. https://t.co/dEdUg7Z5C4
Mayor Brandon Johnson, who took office vowing to end decades of disinvestment on Chicago’s West and South sides, enthusiastically endorsed the project, calling the renderings of the futuristic oval-shaped stadium with a translucent roof “miraculous.” https://t.co/j0AUlD0HVG
"More sports team stadium drama could be on the horizon as the Chicago White Sox are said, as of this writing, to be preparing to announce a significant private investment in a new South Loop ballpark," writes Rich Miller. https://t.co/hbeNv1dkcz
So while explaining the Bears stadium subsidy proposal to curious neighbors yesterday (Yes, I am exhausting on this topic in person too) I mentioned Bears want all concert revenue too (which is a major @ChicagoParks revenue source currently). Area moms REALLY hated that $ grab.
.@byaliceyin and @JakeSheridan_ with a great look at @ChicagosMayor trying to fit the Bears stadium pitch into his progressive agenda. https://t.co/JBFdcknGzH
The next item on Mayor Brandon Johnson’s progressive agenda: A new Bears stadium. Will his coalition embrace it? https://t.co/8nweZMu7e5
D.C. Download: After decades of duds, Brightline may be the engine that could Politicians from both parties celebrated the economic potential of LV-to-L.A. rail line. Dems hope voters chalk it up to Biden in a tough election year. @birenbomb https://t.co/vd1WKWrSmJ @TheNVIndy
Counting interest and other long-term costs, the proposed new borrowing would tally up to $4.8 billion over four decades. And that doesn’t count the cost of proposed infrastructure improvements. Story with @ad_quig & @oliviaolanderr https://t.co/gQ281Xq6EN
A quality deep-dive by @chicagotribune reporters into the proposed financing of the #Bears' domed-stadium dreams on the lakefront. Great point made on the unprecedented 40-year length of the ISFA bonds — this isn't an asset designed to last that long https://t.co/hXyKU3J0Mo
“Linking SunRail to [Orlando] airport and tourism stops would increase ridership from the current 1 million annually to 6 million annually, is likely to be an underestimate.” Funding for the ~$4 billion rail line shared with @GoBrightline is still TBD. https://t.co/WHkTTK6WDR
GRIN AND BEAR IT: NFL team told to fork over its own cash and "if they don’t like it, go jump in Lake Michigan," after trying to take billions in taxpayer funds. https://t.co/TXFl8f1SCf https://t.co/TIvC10z4pH
Chicago Bears told to 'pay for their own damn stadium' after proposal has taxpayers footing $2 billion https://t.co/RB8Hkb5y4o