Bears Get Closer to Securing New Stadium Deal as Illinois Lawmakers Reconsider Terms
The Chicago Bears' chances of landing a new stadium deal in the state of Illinois just got significantly better, thanks in part to the team's growing popularity and a bit of good fortune. The Bears' dramatic turnaround under rookie head coach Ben Johnson has captured the hearts of fans across the Midwest, including those in neighboring Indiana.
According to sources close to the negotiations, Illinois lawmakers are re-examining their stance on several key issues related to the stadium deal. The most significant change is the removal of a requirement that the team pay off $532 million in outstanding bonds used to renovate Soldier Field.
"We've been really clear about what we've been willing to do as a state," said Governor J.B. Pritzker at a press conference earlier this week. "We don't want to leave the city of Chicago or the state of Illinois with an enormous debt that goes unpaid."
Indiana, on the other hand, has taken a different approach. The state has filed legislation that could pave the way for a new Bears stadium across the state line. The bill would empower a newly created Northwest Indiana Stadium Authority to build a stadium for the Bears and sell it to the team for $1 once the 40-year bonds are paid off.
The proposed deal includes a 35-year lease that would allow the team to retain all revenues generated by the stadium. In contrast, the revenue sharing arrangement included in the Bears' Soldier Field lease is significantly more favorable to the state of Illinois.
While Indiana lawmakers have been praised for their efforts, Chicago-based sports marketing consultant Marc Ganis believes that the competition between the two states has finally brought an end to the long-running stadium saga.
"They are about to get a plan — probably legislatively-approved by the end of February in Indiana — that will have a significant amount of Indiana tax dollars going into paying for the stadium, unlike in Illinois where there would be no tax dollars going into pay for the stadium," Ganis said.
Springfield had "better step up quickly or they're going to be really shocked at how fast" Indiana is prepared to move, Ganis added. The state's offer has all but eliminated any perception of desperation on the Bears' part, making it a much more attractive option.
As the negotiations continue, one thing is clear: the Chicago Bears are in the driver's seat when it comes to securing a new stadium deal. Whether they choose to stay in Illinois or join their neighbors in Indiana remains to be seen, but for now, the Bears appear to have moved closer to securing the stadium of their dreams.
The Chicago Bears' chances of landing a new stadium deal in the state of Illinois just got significantly better, thanks in part to the team's growing popularity and a bit of good fortune. The Bears' dramatic turnaround under rookie head coach Ben Johnson has captured the hearts of fans across the Midwest, including those in neighboring Indiana.
According to sources close to the negotiations, Illinois lawmakers are re-examining their stance on several key issues related to the stadium deal. The most significant change is the removal of a requirement that the team pay off $532 million in outstanding bonds used to renovate Soldier Field.
"We've been really clear about what we've been willing to do as a state," said Governor J.B. Pritzker at a press conference earlier this week. "We don't want to leave the city of Chicago or the state of Illinois with an enormous debt that goes unpaid."
Indiana, on the other hand, has taken a different approach. The state has filed legislation that could pave the way for a new Bears stadium across the state line. The bill would empower a newly created Northwest Indiana Stadium Authority to build a stadium for the Bears and sell it to the team for $1 once the 40-year bonds are paid off.
The proposed deal includes a 35-year lease that would allow the team to retain all revenues generated by the stadium. In contrast, the revenue sharing arrangement included in the Bears' Soldier Field lease is significantly more favorable to the state of Illinois.
While Indiana lawmakers have been praised for their efforts, Chicago-based sports marketing consultant Marc Ganis believes that the competition between the two states has finally brought an end to the long-running stadium saga.
"They are about to get a plan — probably legislatively-approved by the end of February in Indiana — that will have a significant amount of Indiana tax dollars going into paying for the stadium, unlike in Illinois where there would be no tax dollars going into pay for the stadium," Ganis said.
Springfield had "better step up quickly or they're going to be really shocked at how fast" Indiana is prepared to move, Ganis added. The state's offer has all but eliminated any perception of desperation on the Bears' part, making it a much more attractive option.
As the negotiations continue, one thing is clear: the Chicago Bears are in the driver's seat when it comes to securing a new stadium deal. Whether they choose to stay in Illinois or join their neighbors in Indiana remains to be seen, but for now, the Bears appear to have moved closer to securing the stadium of their dreams.
governor pritzker is being super transparent about what they're willing to do as a state which is cool but at the same time it's kinda worrying that they're thinking about leaving chicago with an enormous debt. on the other hand indiana is just straight up offering the bears a deal for $1 and that's a game changer 
i think ganis is right though, this competition between states has brought an end to the long-running saga and the bears are in a great position now. personally i'm rooting for them to stay in illinois but i can see why they'd wanna join indiana...
The way I see it is that the Chicago Bears are basically running out of excuses not to get a new stadium deal done 
. With Illinois lawmakers re-examining the terms and Indiana stepping up with a more attractive offer, it's only a matter of time before the team makes a decision 
. The fact that Ben Johnson has turned the team around is definitely a bonus, but let's be real, it's not just about the coach - it's about the bottom line 
. If Illinois wants to stay in the game, they need to come up with a better deal ASAP or risk losing the Bears to their neighbors 
. It's going to be interesting to see how this plays out! 
i mean illinois lawmakers are rethinking things and indiana is like "hey we got this" 
its all about who can get the best deal, right? but wait what's with the $532 million debt thingy? did they really owe that much to renovate soldier field?! i thought that place was already old news 
I think the Bears are smart to consider moving to Indy - more tax dollars means a better deal for them 
. Illinois should step up the game or they'll get left behind 
. Indiana is doing what Chicago can't (or won't), so I say Bears are gonna make the move 
. Can't wait to see where this all goes! 
. Seriously though, it's awesome to see the Bears' popularity growing and Illinois lawmakers rethinking their terms. The whole Indiana thing is interesting too... like when you have multiple options on a test and you can choose the one that works best for you 
. Maybe Ben Johnson's coaching skills are transferable to stadium negotiations? Either way, it's all good vibes for the Bears fans out there 
. Still, I'm curious to see how this all plays out in Feb... will IL come crawling back or are they done? 
. And Ganis is right, though - Indiana is definitely moving fast on this one. Guess we'll just have to wait and see what happens next