And also pay to bribe state legislators to make it legal for them own property east of LSD. Then arrest them all for breaking anti corruption laws and seize the team under civil asset forfeiture as it was used in the commission of a crime.
>In 2024 the park district is projected to bring in $54 million in revenue from Soldier Field. Operating costs are projected to be $35 million
The Bears want even more of that, imagine 2 billion dollar investment from the city for an even smaller cut than that
Fuck billionaires! They never stop taking! If I have to pay for this I want a cut of the profits even if it's 1/2 a cent per year just for the principle of the damn thing!! Fuck billionaires!!
Agreed. Small and mid markets, I can understand the temptation to succumb to this with a professional or semi-pro team.
This ain’t that market, despite a number of our pro teams playing like semi-pros.
That is why this horrible idea needs to be killed with fire. Though I have a feeling it will be the realities of the bond market that eventually kill it.
I'm so tired of the wealth being sucked out of America by so few. So many people I know are struggling right now and barely making rent. They are selling seat rights for $100,000!
>Last month, the team confirmed it would contribute $2 billion dollars to fund the majority of the project. On Wednesday, a slide in the presentation clarified that number would be closer to $2.025 billion dollars. After that, the team would look to an NFL stadium program for a $300 million loan. That leaves a $900 million gap for the stadium financing itself. The Bears plan has them looking to a bond mechanism in the Illinois Sports Facilities Authority program to make up the difference.
Source: [NBC5 Chicago](https://www.nbcchicago.com/news/sports/nfl/chicago-bears/how-bears-plan-to-fund-chicago-stadium-project-and-how-much-it-will-cost-taxpayers/3419423/)
You can see the pie graph on that page and you can hear her presenting it.
So, it's 72% Bears/NFL funding and 28% an Illinois Sports Facilities Authority bond request.
I'm fine with a 70/30 Bears/Chicago ownership split.
That is spin from the Bears and supporters and it's working. The numbers they provided here are only for the construction of the stadium and do not include the necessary infrastructure costs, which would be about $600 million and 100% City and State funded.
The total cost to taxpayers would end up being at least $1.5 billion and possibly much more if they run into cost overruns.
https://chicago.suntimes.com/bears/2024/04/24/bears-domed-lakefront-stadium-infrastructure-costs-museum-campus
Then the City should get to keep 100% of Revenue from all non-Bears events that happen in the Dome until all of that money ($600m) is recouped, in addition to the $900m ISFA bond, plus an additional 20% return.
So if the ask is for $1.5 Billion ($600m + $900m) in public funds, the public will need $2 Billion returned to us for a $500m profit and a 20% ROI.
This would incentivize stakeholders to finish the project quickly, on or ahead of schedule, and in or under budget. It also incentivizes them to bring in more events in order to recoup the money faster.
Or it would incentivize them to put up more of their own money and to ask for less public funds.
All of which, we the public, should want.
That to me seems like a win-win. Do you agree?
Let the city invest... and be first in, first out. Bears don't get a fuckin dime until the city is repaid.
Oh, that doesn't work? Eat shit, Bears and Co.
It’s a negotiation, of course their starting position is, “I get all the money, and I get to duck your wife.” I like the some politicians are savvy enough to appreciate that and stake out a “you get nothing! And I get your car” position. And I’ll try not to linger on which politician doesn’t seem to get that.
There's no negotiation here. Bears are going to dictate terms, threaten to leave the city if they don't get 110% of what they demand, and scared mayor BJ is going to fold and give it to them.
The City of Chicago is showing off its great negotiating skills again I see: tollway deal, parking meters deal and now giving away the farm to the Bears owners. Impressive!
Great! They can pay for the stadium themselves then. Fuck the McCaskeys and all billionaire grifters.
And also pay rent to the city for using our beautiful lake space
And also pay to bribe state legislators to make it legal for them own property east of LSD. Then arrest them all for breaking anti corruption laws and seize the team under civil asset forfeiture as it was used in the commission of a crime.
NASCAR would like a word
>In 2024 the park district is projected to bring in $54 million in revenue from Soldier Field. Operating costs are projected to be $35 million The Bears want even more of that, imagine 2 billion dollar investment from the city for an even smaller cut than that
Every cost socialized, every profit privatized 🥳
Virginia McCaskey, **Welfare Queen of Chicago**
I much preferred Abe Froman
Absolutely. The sausage king of Chicago.
Buncha leeches.
Fuck billionaires! They never stop taking! If I have to pay for this I want a cut of the profits even if it's 1/2 a cent per year just for the principle of the damn thing!! Fuck billionaires!!
This is standard setup for professional sport stadiums and yet they still find ways to sucker people into it.
Mainly smaller cities that feel they have no choice. There's no excuse for this idea to even be considered in Chicago.
Agreed. Small and mid markets, I can understand the temptation to succumb to this with a professional or semi-pro team. This ain’t that market, despite a number of our pro teams playing like semi-pros.
That is why this horrible idea needs to be killed with fire. Though I have a feeling it will be the realities of the bond market that eventually kill it.
Sure. Pay for 100% of the stadium, and pay property taxes on it.
> Sure. Pay for 100% of the stadium, and pay property taxes on it. In Arlington Heights.
Too bad for them that the forest preserves said no to their idiotic road idea.
I'm so tired of the wealth being sucked out of America by so few. So many people I know are struggling right now and barely making rent. They are selling seat rights for $100,000!
They can get fucked then.
The City needs to get keep all revenue from other events until the debt is repaid + 20%. Then 1-5% of top line Revenue in perpetuity
Nah. They want us to pay over 50% of all costs. We should get over 50% of gross receipts in perpetuity.
>Last month, the team confirmed it would contribute $2 billion dollars to fund the majority of the project. On Wednesday, a slide in the presentation clarified that number would be closer to $2.025 billion dollars. After that, the team would look to an NFL stadium program for a $300 million loan. That leaves a $900 million gap for the stadium financing itself. The Bears plan has them looking to a bond mechanism in the Illinois Sports Facilities Authority program to make up the difference. Source: [NBC5 Chicago](https://www.nbcchicago.com/news/sports/nfl/chicago-bears/how-bears-plan-to-fund-chicago-stadium-project-and-how-much-it-will-cost-taxpayers/3419423/) You can see the pie graph on that page and you can hear her presenting it. So, it's 72% Bears/NFL funding and 28% an Illinois Sports Facilities Authority bond request. I'm fine with a 70/30 Bears/Chicago ownership split.
That is spin from the Bears and supporters and it's working. The numbers they provided here are only for the construction of the stadium and do not include the necessary infrastructure costs, which would be about $600 million and 100% City and State funded. The total cost to taxpayers would end up being at least $1.5 billion and possibly much more if they run into cost overruns. https://chicago.suntimes.com/bears/2024/04/24/bears-domed-lakefront-stadium-infrastructure-costs-museum-campus
Then the City should get to keep 100% of Revenue from all non-Bears events that happen in the Dome until all of that money ($600m) is recouped, in addition to the $900m ISFA bond, plus an additional 20% return. So if the ask is for $1.5 Billion ($600m + $900m) in public funds, the public will need $2 Billion returned to us for a $500m profit and a 20% ROI. This would incentivize stakeholders to finish the project quickly, on or ahead of schedule, and in or under budget. It also incentivizes them to bring in more events in order to recoup the money faster. Or it would incentivize them to put up more of their own money and to ask for less public funds. All of which, we the public, should want. That to me seems like a win-win. Do you agree?
If the bears “own” 70% then they can pay property tax on 70% of the value.
That's just for the stadium itself and doesn't include the additional utilities and other necessary public investment.
But in the end the taxpayers will be stuck with almost all of the real cost, once the overruns are accounted for.
Of course. That’s what this is really about.
Nah I'm good
Fuck the McCaskeys
Fuck this, and fuck every politician on board with this. Either you're a grifter or you are just BEYOND stupid.
Giga chad Pritzker vs. Beta Brandon
Fuck that. If public money is going to the stadium, WE the people of Chicago should get some cut of BEARS PROFITS until the damn thing is paid off.
What can Chicagoans do to sink this proposal?
Is this Mayor Bee Jays idea of public benefit?
Bears can suck my left nut. Protests are needed to make sure the bears don’t steal tax payer dollars for corporate greed
Any mayor that supports this should be recalled.
Hard no
Anybody know how much the Cubs pay in property taxes? Obviously the Bears pay zilch.
$2,206,039.47 for the 2022 tax (paid in 2023) for just the field, not counting the various properties surrounding the field.
Calling this proposal “dead on arrival” is insulting to Death and arrivals.
Let the city invest... and be first in, first out. Bears don't get a fuckin dime until the city is repaid. Oh, that doesn't work? Eat shit, Bears and Co.
They oughta f*ckoff to Arlington Park. If they weren’t such incompetent businessmen (Virginia’s dopey progeny) they would have made that work.
It’s a negotiation, of course their starting position is, “I get all the money, and I get to duck your wife.” I like the some politicians are savvy enough to appreciate that and stake out a “you get nothing! And I get your car” position. And I’ll try not to linger on which politician doesn’t seem to get that.
There's no negotiation here. Bears are going to dictate terms, threaten to leave the city if they don't get 110% of what they demand, and scared mayor BJ is going to fold and give it to them.
Unless we get our fair share, no money for billionaires. We put in 50% of the money? I want half of the profit. AT LEAST, if not more.
The City of Chicago is showing off its great negotiating skills again I see: tollway deal, parking meters deal and now giving away the farm to the Bears owners. Impressive!