Illinois Legislature Delays Funding for Chicago Bears Stadium
Illinois Legislature Puts Chicago Bears Stadium Funding on Hold
Chicago Bears President Kevin Warren had been pushing for the Illinois legislature to approve funding for a new Bears stadium this spring, with hopes that the team could open the new venue by the 2028 season. Unfortunately for fans and Warren, that plan has hit a significant roadblock.
Over the weekend, it was reported that the Illinois legislature will not be addressing any proposals related to the Bears' stadium until at least this fall, if at all. The Chicago Tribune highlighted the lack of support among lawmakers in Springfield for publicly funding the proposed stadium, which would require over $2 billion in public money.
High-ranking Democratic lawmakers, including Sen. Bill Cunningham and State Rep. Kam Buckner of Chicago, expressed skepticism. "It's fair to say that there won't be any Bears action ... in this legislative session, which I think is fine," Buckner stated on Saturday. "A proposal of this magnitude deserves sunlight and scrutiny. And very often what has happened in this building is that things get rammed through at the last minute without much public input or transparency. So I welcome conversations that will probably begin to happen once we're done here."
The current legislative session in Springfield has already extended beyond its intended schedule due to ongoing budget debates. Meanwhile, the Bears' request for funding isn't the only sports-related proposal vying for public funds. The Chicago White Sox are exploring the possibility of a new stadium at The 78 development, and the Chicago Red Stars women's soccer team are seeking upgrades as well. State lawmakers have emphasized the importance of ensuring equity among men's and women's sports clubs. Legislation authorizing bond authority for a women's stadium project was introduced in early May but has yet to make progress.
To summarize, the Bears' stadium project is estimated to cost $3.2 billion. The team plans to cover $2.3 billion through private financing and NFL assistance, leaving a $900 million gap they want the state to fill with bonds. Additionally, the Bears have asked the Illinois Sports Facility Authority (ISFA) to refinance $430 million in existing stadium debt and borrow $160 million for a liquidity fund, totaling $1.5 billion. Including interest payments over 40 years, the total public cost would rise to approximately $4.8 billion.
Moreover, the Bears have requested an additional $1.5 billion from the state for lakefront infrastructure improvements.
Given these significant financial requests, the Bears will need to reassess their strategy and possibly revise their proposal to gain more legislative support. They still hold the Arlington Heights site as a potential alternative. However, the original goal of opening a new stadium by 2028 now seems increasingly unlikely.
As the Bears look ahead, they may need to set their sights on the 2030s for a new home.
| POLL | ||
26 MAI | 61 ANSWERS Illinois Legislature Delays Funding for Chicago Bears Stadium Do you support using public funds for the new Bears stadium? | ||
| Yes | 34 | 55.7 % |
| No | 27 | 44.3 % |
| List of polls | ||
