Ppl don’t listen. The Bears are paying for the stadium. The extra cost is the park and clearing the debit from the 2005 remodel that the State still owes. Bears have paid all their debits. They can’t depend on Illinois for $$ for a stadium cause it’s been previously mismanaged.
@@terrellb927 clearly you don't listen. "In last week’s press conference, the Bears put the total cost for their new stadium at $4.7 billion, of which the team said it would contribute just over $2 billion."
@@nathanr5825 cost break down that the while development. The actual stadium cost the bears are covering 73%. The rest of this 3-4 Billion is development, the 1.2B outstanding debit from the renovation of SF and Sox park. Soldier Field isn’t generating any profits. And the state don’t pay its bills. Bears trying tomorrow make sure things are paid.
As someone in Chicago construction I knew the 4.8 billion was a joke. The unions here don’t mess around. If they doing a job like this they charging premium dollar
@@sirchi8731 I have plenty of friends, thank you for your concern. I understand how the TV money works. I was just saying I’d rather watch games from home.
I heard the term "have to grease the wheel to get stuff done," but this is insane. It would be better to just let the team move to Arlington Heights and force the team to fund their own stadium.
If there's going to be a $7 billion stadium, they better put a second NFL team in Chicago. 65,000 people?? The Bears always sell out. They can put in a 70,000 seat stadium plus 5,000 in standing room and thered still be a sell out. I love the greed of these owners, create an artificial shortage of seats so they can sell out every game and charge a massive amount for the nosebleed seats.
As somebody that grew up in Illinois I can tell you that the first words out of everyone in Illinois mouth when 4.6 billion was stated as the cost was it will be way more than that. Nothing gets built in or near Chicago than isn’t astronomically over budget. The next thing was where the hell are people going to park followed by what about tailgating pregame? The citizens of Illinois have only paid the interest on the stadium they will be tearing down. The entire principal on that loan is still there and will be “folded into the new stadium budget”. Just for the record, the Illinois school system teaches corruption in kindergarten just in case a kid wants to go into politics in Illinois. They teach you how to dispose of a body in middle school in case you want to go into politics in Chicago.
How interesting is it, that the minute that Los Angeles and Las Vegas build these unnecessarily giant Super-Stadiums, all of a sudden every team in the NFL is having "Stadium Issues". Call this what it is, its the owners having another dick measuring contest, to see who can pull on over on the tax-payers. This shit needs to stop, before it gets even worse.
Chicago School 🏫 Budget anyone ⁉️🥃🔥🇺🇸💔🤪 More than 450,000 Chicagoans suffer through poverty every day, at a rate of 17.2%. But the problem is worse if you live in a minority neighborhood. “Overall, 16.4% of the Chicago population lives in poverty, compared to 12.3% for the U.S. as a whole.”
What if every major city in the country colluded together, and told the NFL they will not pay one dime for any new stadiums from this point forward. That would include any and all potential relocation cities. I'd love to see that.
Im not even a bears fan but it'd be weird soldier field being replaced. I just feel like there's so much history there. Id imagine a lot of life long bears fans would be upset about the change.
You forgot the $1 Billion dollars plus for all the graft and corruption, payoffs to the Governor, and City and State politicians, and Unions. Illinois taxpayers are going to get the shaft on this deal.
Its not even impressive rendering, looks like something built 10 years prior and somehow the cost for this generic stadium is record setting? No, call thier bluff let them move. That's an awful deal for chicago.
There are obviously a lot of pluses and minuses with a new $7B stadium. My main thought is that Soldier Field was renovated just over twenty years ago, and that was disastrous on multiple levels. What makes one think that this will not be a disaster as well? Sports stadiums and arenas in this country are revered at times, but people will probably grow tired of whatever the final verdict is within a decade or two. Not every venue can be a Wrigley Field or MSG.
Check out the nbc special. That state keeps pushing to debit out years. The State owes this money. Mind you the bears pay $12-24M a year to play at SF. Yet $600 mill is still owed. Mind you the bears and NFL paid in full in 2002 their portion.
The reason that debt exists in the first place is because that renovation was just for the stadium. Having 8-9 Bears games, 17 Fire games, and however many concerts/events per year wouldn't pay off debt
@@Angry_Peanut_52 right so sad to say New Stadium, More Debit but more year round event to pay debit off sooner that 30/60 years. Prime example. The Sky vs Fever game in June could use and sell out a 20k-30k venue but soldier field is outdoors imagine a concert residency from February-May, with soccer, NCAA, WNBA games and Football Sep - Jan with a Bowl game in December and Jan, March Madness ect… $$$$$$$$$$
much of the info in this video is out of date. the Bears bought the Arlington Heights property for $197 Million. The hangup was property tax 'certainty' as George McCaskey put it. The Bears felt the property should be taxed at 5-6 Million per year because it is undeveloped land, but the school districts are pushing for the purchase price which raises the property tax to 5x higher. The property tax assessor agreed with the schools and whacked the Bears with a high tax. The Bears appealed the decision, but the appeal didn't do much. While it did think the school's opinion was much too high, the ruling only lowered the tax base to $110 million to produce a tax in the range of 16-21 million annually. Still above what the Bears considered fair. In late March 2024, the city of Arlington heights offered a temporary reduction in property tax for the 2023 and 2024 tax years to 3 and 5 million respectively as sort of an olive branch. No word on the tax rates beyond 2024. No word on whether the Bears have accepted the temporarily reduced taxes or not.
With the Bills, Titans and Bears getting new stadiums, Buffalo should host Super Bowl LXII in 2028, Tennessee should host Super Bowl LXIII in 2029, and Chicago should host Super Bowl LXIV in 2030
In what world is it right that billionaires would be paying less than what the citizens of the city would be paying for it. Are we the ones that would be benefiting from this? No the owners will be collecting the revenue. And how would they be collecting that revenue?? By charging us an arm and a leg to even attend those games/concerts they hold.
They're not going back to Arlington it's done I don't know why everybody keeps thinking they're going back to Arlington Kevin warren is already stated he does not want to go back to Arlington
They should just go Arlington Heights and include the casino and sportsbook, partner with one of the big ones and there you go it would all be paid for with private funds. The hell with Chicago and all the crap there. If they do not want to split the costs then bye Felicia
In most, if not all, of these renderings of new stadiums/arenas, The “ other stuff “ is almost NEVER built. The owners get their building and then they’re happy. F the taxpayers. Go buy your tickets, have a good day.
How much is it to take the roof off? Also, If the city didn't only pay interest on it and keep refinancing it. What do they expect? It would be nice to see the numbers breakdown, considering that no politician and most reporters aren't financially literate in the commercial real estate market, because their is a lot the city should be doing to sure up infrastructure around that area to begin with. One thing I haven't seen is what is the estimated revenue for the city in taxes over the next decade with the new stadium and upgrades. If the Bears walk away they have nothing so, take $0 or make an amazing area and market the shit out of it.
650k seats sold per year (assume 10 games). That stadium would have to last 100 years at $100 per ticket to recover the cost. No upgrades, no salaries, nada. From what I’ve seen the last few decades the Bears aren’t worth it. Maybe a nice multisport facility like Oakland has in Arlington Heights. They can share with the Sox. Add a Mount Ditka.
Chicago has some of the highest construction costs anywhere. Especially this location with no good access to raw materials or things like concrete and steel
What are you talking about, they ship tons and tons of raw materials using barges from the great lakes and the canals that run through chicago. Chicago is connected to the Mississippi river system and the Atlantic ocean via the st lawrence seaway. Its easy waterway connections are the only reason it exists there in the first place. It also is where where every major rail like on america connects. US steel has the largest steel mill in the usa along the water only a few miles from soldier field.
Yall don’t really listen….The 7 billion isn’t just for the stadium but also includes the park district around it. The stadium itself will cost around 3billion
This is the beginning they should do that for the government Because I’m blaming the government of Illinois for not doing it was supposed to be doing because I know the report is say they supposed to give you fiction the street and put some parking space parking lots and stuff like that so I think Governor Pritzker has to be blamed for because that’s not a good side of the path what is going on , everything is OK but the parking space in the streets he’s not doing the right way so don’t we cannot blame the organization for Chicago Bears. We had to blame the Governor officials and the senators from Illinois.
If they want public money then the residents of the city should get discounted prices, illinois resident also get a percentage off tickets, and superbowl tickets should be 75% resident only tickets and the rest for any non residents
Ask Clark County if using public money was a good idea. Already have shortfalls to pay for the Raiders stadium. These deals never work out well for the cities and people are finally waking up. Although Chicago could fund it though a Hotel and visitors tax like Vegas is would just have to be a higher tax. At least that way the locals are not funding it visitors are.
The Bears need to return to Decatur, or build on their Arlington Heights land and work out a deal with the local school districts re: property taxes. I just don’t get a good feeling about the bromance between Kevin Warren and Chicago Mayor Brandon Johnson, the teacher’s union’s pet whose profile appears to be sinking. Those renderings are unrealistic, particularly because of the glaring lack of parking.
Bears gonna have to pay the entire cost of the stadium for that to even have a chance. Then the phase 1-3 might have to be truncated. Bought the AH property for 197mil
Local governments, They had decades to pay off those debts. The just kept floating it into the future. Politicians will be long time out of office before then. The answer refinance it again and again.
Maybe create more housing first chicago. Fix up the school system and a lot of the neighborhoods. Theres a laundry list of public needs in Chicago before the bears ever get to build a 7 Billion 65k seat stadium. Ridiculous. Add a $100+ seat, $20+ beer, and $15+ hot dog. There aint no way anyone finna pay for this shit.
That so-called stadium district isn’t all that. I’d rather the Bears build a dome in Arlington Hts without that giant window and instead put more seats to give the stadium more value. DG, you must know that in addition to a nearby highway, there’s also the Metra commuter rail that’s between the suburban site and downtown Chicago. I think State officials would be more likely to cough up taxpayer funds if the stadium were not in Chicago. I don’t understand what Warren is thinking. A Bears stadium next to Soldier Field would cost far more than US Bank Stadium, which he helped the Vikes deal for. Warren is an outsider. He may get along well with Mayor Johnson, but the Bears are barking up the wrong tree. Doesn’t Warren understand that in Arlington Heights the team would own all the parking and concessions, and have some gambling and hotel revenue, too? The McCaskeys need to put a stop to Warren’s bromance stat!
Arlington Heights is the ONLY decent option. No Parking on the lakefront, Not Access from roads, No stadium district to maximize revenues. This proposal fixes none of those major issues from the Bears side. Oh and its asking for BILLIONS in public funds. Take beat, think critically, post a new video recognizing how foolish any attempt to put a stadium on the lakefront is and lets break sound ground in Arlington.
Arlington Heights would be just as expensive taxpayers have to foot the bill the other problem is AH has more taxes to pay than Chicago especially property taxes for 3 school districts and township costs etc. Which is one of the reasons why they're bailing out from there the last thing they want is the tax assessor to tell you to pay more taxes for something you didn't even paid taxes to begin with in Chicago.
This gives me Top Gear UK Dacia Sandero vibes with the status of AH and the Lakefront. Because some folks online say they're staying some say they're going some say the price is this and some say its that. Gives me the "Good News, the Dacia Sandero is coming to Britain" then the next day "Bad News the Dacia Sandero is not coming to the UK." And then the next day its more of the same. End of the day good or bad news the taxpayers have to pay for both projects some way some how same with the Sox taxpayers will foot the bill like it or not.
Michael Johnson is basically guessing. Is not going to be $7b. Yall need to stop. All in cost is $3.5 billion to build & open the stadium. Other infrastructure is about $1.2b. We need to get on number right. It's all guessing at this point
So the taxpayers pay a portion of the building cost then gets charged an arm and a leg to watch the game and food then when the bears make a lot of money, do the taxpayers get a portion of that revenue? Hell no!
Ppl of Chicago just remember this, you agree to this? You’re paying insanity tax money on top of the crappy tax rate you’re already paying and then you’ll be paying TOP DOLLAR for nose bleed seats. REMEMBER THAT.
Let me repeat, there is NOTHING WRONG with current Soldier Field & Guaranteed Rate Field. ABSOLUTELY NOTHING!!!!! This bullshit from both the Bears and White Sox needs to stop and I absolutely adore both Franchises but this shit has to fucking stop. The Rate and Soldier Field are 30 and 20 year old stadiums with nothing wrong. They aren't falling apart. Either built a joint stadium together or nothing. Any taxpayers that want to contribute can start a goFundMe.
There is something wrong with Soldier Filed. It’s not profitable. The state and city are losing $ cause they still owe $600m. Bears building a new stadium will generate Income, and they’re paying for it. And Sox want to move cause the area is going to crap. The bears play it to correct what the State and Daley screwed up.
@@ShaunPadgham wtf are you talking about it was completely demolished and rebuilt in 2002 it's only 22 years old and for its time it was one of the larger and closest to the field stadium in the league. They still haven't paid for the last renovations.
Of course it would of course the state official would say that because they they don't really know the actual number they're just saying that so that the bears would not be able to get the money from taxpayers
No it's not, they're asking for a billion also. It's going to be just as tough, or even tougher. The Bears have been trying to get a new stadium for almost 3 years, the White Sox just started.
How about taking it out of your share of tv's $$$'s to pay for it? nfl teams sit on those huge profits they make each season then want someone else to pay for their fkn stadiums/improvements.
