The push for a new stadium for the Chicago Bears faced a setback when the Illinois legislature decided to delay any action on the matter until at least the fall, signaling a lack of support for publicly funding the proposed project. The Bears had sought over $2 billion in public funding for the stadium, but facing resistance, the proposal has been put on hold.
High-ranking Democratic lawmakers, including Sen. Bill Cunningham and State Rep. Kam Buckner, expressed reservations about rushing such a significant project without adequate public input and transparency. They emphasized the need for thorough scrutiny and discussion before moving forward.
The Bears’ stadium project comes with a hefty price tag of $3.2 billion, with plans to privately finance $2.3 billion, leaving $900 million to be covered by Illinois issuing bonds. Additionally, the team seeks refinancing of existing stadium debt and funds for infrastructure improvements, bringing the total request to $1.5 billion.
Despite the setback, the Bears have time to reassess their plans and potentially garner more support, either for the lakefront project or their previously owned site in Arlington Heights. However, the initial timeline for opening the new stadium in time for the 2028 season now seems unlikely.
Looking ahead to the 2030s, the prospects for a new Bears stadium remain uncertain, dependent on navigating political hurdles and securing sufficient funding.
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