Pritzker wants $534 million from the Bears’ ownership.
The CEO of the National Football League’s Chicago Bears franchise Kevin Warren has told his customers it’s Arlington Heights time. The business has to leave Chicago and set up shop in a small Chicago suburb. But the Governor of Illinois JB Pritzker has said, fine you can leave Chicago but there is still a massive stadium debt on the venue you use in Chicago and we would like Bears’ ownership to pay down that debt. “We need the Bears to pay off what’s owed on the existing stadium. That’s going to be a really important feature of whatever happens. if they want a bill or some other help, we’re going to make that a prerequisite.” That bill is $534 million.
There doesn’t seem to be a financial plan to build a stadium-village on a 326-acre parcel of land in Arlington Heights. But Warren told his Bears’ customers in a letter. “We are partnering with political, labor, business, and community leaders across Illinois to develop a plan for property tax certainty and a fair contribution toward essential infrastructure that will benefit the entire community. Arlington Heights is the only site within Cook County that meets that standard. It allows us to better serve our fan base and deliver a truly transformative and elevated gameday experience. Our new stadium, with a fixed-roof and the corresponding mixed-use development, will be worthy of the most passionate fan base in the NFL and capable of hosting marquee events year-round from the Super Bowl to the Final Four to global soccer games to concerts to community events to youth sporting events.” Warren wants Pritzker or Illinois lawmakers to give his business a property tax break. The tax break could come from a payment in lieu or property taxes agreement. But right now, Pritzker wants Bears’ ownership to pay the Bears’ Chicago stadium debt.
Evan Weiner’s books are available at iTunes – https://books.apple.com/us/author/evan-weiner/id595575191
Evan can be reached at evan_weiner@hotmail.com
