Get the popcorn ready.....
https://www.chicagotribune.com/2024/...-stadium-plan/
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The sources said the Bears plan to pledge $2.3 billion, which includes some financing through the NFL. But the Bears’ plan includes an additional $2.3 billion in public financing, along with refinancing outstanding debt for prior publicly financed stadium projects for the Bears and White Sox, according to the sources.
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Also worth noting....
Quote:
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The 2% hotel tax has fallen far short of paying off the existing debt. As a result, taxpayers still owe $629 million for past renovations of Soldier Field and Guaranteed Rate Field, whose occupants, the White Sox, also are seeking a new stadium in the South Loop.
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So - The Bears want $2.3 billion in public dollars, maintaining we won't need to raise the 2% hotel tax..... Even though that still hasn't paid off the past Bears/Sox work.
I would love nothing more than to see a beautiful new stadium rise on the lakefront, but not with this voodoo magic bullshit accounting. The previous reporting made alluded to the stadium only costing a couple billion as that's the number the NFL was saying they would throw behind it.
The previous reporting on this made it sound like the NFL would pay for the stadium construction, with the public on the hook for public infrastructure around/connected to the stadium. However - This article is saying the Bears are only putting $2.3 billion up with the stadium costing $3.2 billion.
I'm ok with public infrastructure spending, but the Bears should be on the hook for every penny of the
$3.2 billion.
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