Property

Bears signal buy settlement for Arlington Park property: Unique

The Bears have signed a purchase order settlement for the Arlington Worldwide Racecourse property in suburban Arlington Heights, Ailing., The Athletic has realized. The staff is predicted to announce the information Wednesday morning.

“We aren’t shocked by this transfer. We stay dedicated to persevering with the work to maintain the staff in Chicago and have suggested the Bears that we stay open to discussions,” a spokesperson for the mayor’s workplace mentioned in a press release to The Athletic. “Nevertheless, simply because the Bears view this as a enterprise resolution so does the Metropolis. This season, Soldier Discipline signed a serious contract with the Chicago Hearth and simply final weekend Soldier Discipline hosted the Shamrock Collection — each of that are profitable for the Chicago Park District and native economic system.

“These examples and others exhibit that Soldier Discipline stays a really sought-after venue, and, because the Mayor has mentioned many occasions, total, the Metropolis and Park District should discover all choices to each improve the customer and fan expertise at Soldier Discipline year-round and maximize revenues. Subsequently, we should do what’s in the perfect financial pursuits of our taxpayers and maximize the monetary advantages on the necessary asset that’s Soldier Discipline. As for the Bears, the Mayor has mentioned quite a few occasions, our door in Metropolis Corridor stays open to have interaction the Bears.”

Mayor Lori Lightfoot added in a tweet later Tuesday, “My assertion nonetheless stands on the Bears: my admin stays dedicated to persevering with the work to maintain the staff in Chicago. As I’ve mentioned quite a few occasions, our door in Metropolis Corridor stays open.”

On June 17, the Bears submitted a bid to buy the Arlington Worldwide Racecourse property.

“It is our obligation to discover each doable choice to make sure we’re doing what’s finest for our group and its future,” staff president Ted Phillips mentioned in a press release in June. “If chosen, this step permits us to additional consider the property and its potential.”

The Bears’ lease at Soldier Discipline runs via 2033, however in response to the Chicago Tribune, the Bears must pay $84 million to the town in the event that they broke the lease in 2026. The monetary penalty decreases after 2026.

“($84 million) represents simply 3 % of the $2.2 billion common price of the league’s seven latest stadiums,” the report said.

On the time, Lightfoot referred to the Bears’ bid as “a negotiating tactic.”

“As a season ticketholder and longtime Bears fan, I’m dedicated to maintaining the ‘Chicago’ identify in our soccer staff,” she mentioned. “And like most Bears followers, we would like the group to concentrate on placing a successful staff on the sector, beating the Packers lastly and being related previous October. The whole lot else is noise.”

Final week, WBEZ launched two experiences reflecting the battle between the Bears and the Chicago Park District, which owns Soldier Discipline. In an April assembly, Phillips “allegedly requested for engineering experiences concerning the infrastructure” of Soldier Discipline. Michael Kelly, the Chicago Park District superintendent, emailed Phillips accusing him of a “propensity for historic statements.”

In early June, Phillips accused the Chicago Park District of refusing “to have interaction in good religion discussions” when the Bears reached out concerning the creation of a sportsbook close to Soldier Discipline.

Throughout a gathering with the Chicago Solar-Occasions, Lightfoot mentioned, “I’m a Bears fan. I would like the Bears to remain within the metropolis of Chicago. And we’re keen to work with them to attempt to deal with their considerations. However, I’ve acquired to do it in a means that’s fiscally prudent and would not preclude different makes use of in that stadium.

“We’re evaluating methods by which we are able to improve the fan expertise at Soldier Discipline. … I do know that it may be higher. I have been to different stadiums throughout the nation the place the fan expertise is much superior to what we now have at Soldier Discipline.”

(Photograph: Robin Alam / Icon Sportswire through Getty Photos)

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