Chicago Bears reveal new stadium and lakefront redevelopment plans

Bears president Keven Warren said the Chicago Bears stadium will feature translucent roof.

“You will be indoors, you will get all of the benefits of being indoors, but you will feel like you are outdoors,” Warren said.

He also mentioned that the roof design is similar to U.S. Bank Stadium in Minnesota and Allegiant Stadium in Las Vegas. It will allow for protection from the elements while also providing the benefit of a naturally lit stadium during day games.

The stadium is designed to be compact and “cozy” according to Kevin Warren. The stadium is designed by Manica Architecture who most recently design Allegiant Stadium in Las Vegas, That stadium features strong sight lines even up at the top near the roof.

The design looks great and would be a massive upgrade over Soldier Field. The next question is, how will this new Chicago Bears stadium be funded? Because the answer to this question determines how realistic this project is.

Money Talks

Perhaps this is the most important part of the new stadium proposal, the money. The Bears saw massive hurdles in the plans to move the Bears to Arlington Heights because of tax disagreements. Now the Bears seemingly have the financial situation all figured out.

Team ownership will put forth an investment of $2.3 billion toward the stadium and museum campus redevelopment project. The rest of the project will be funded by a $300 million loan from the NFL and a $900 million sum from the Illinois State hotel tax. During the financial section of the presentation, the Bears said they would be footing 72% of the bill for this project.

Brandon Johnson the mayor of Chicago, reiterated multiple times that there would be no new taxes raised to help fund the project.

Is it worth it?

While this new Chicago Bears stadium project may sound fine and dandy, but should the state/city be footing any of the bill?

An article form Stateline.org goes into detail on the complex issues of publicly funded stadium projects.

According to J.C Bradbury an economics professor from Kennesaw State university, the economic impact a new stadium has on a community is vastly overestimated.

“This is without exception,” Bradbury said. “It’s really across the board that these are really poor public investments.”

Stateline went on to acknowledge the grey area in a publicly funded stadium. Citing a discussion with a professor of urban planning from the University of Michigan.

While public subsidy amounts are growing larger in terms of dollars, they are actually growing smaller as a share of overall stadium and arena costs, said Judith Grant Long, an associate professor of sports management and urban planning at the University of Michigan who has studied the issue.

Team owners and developers are increasingly pitching stadiums and arenas as wider developments that include entertainment, apartments and hotels. And elected officials are increasingly dedicating public funding toward expenses such as infrastructure and transportation, which theoretically can deliver a larger community benefit than just a venue.

Takeaways form the new Chicago Bears Stadium proposal

A new Chicago Bears stadium was revealed today. This new project seems to be the best option that has come to the table so far. It meets all the requirements for the Chicago lakefront. It doesn’t obstruct the lakefront anymore that Soldier Field does now. The project includes added green space and improved pedestrian and vehicle infrastructure.

This Chicago Bears stadium would undoubtedly improve the gameday experience. It might even convince some players to join the Bears as free agents. State of the art facilities have swaying power in the decision making processes of a player.

However, the project relying on any public funding at all is a red flag. The state legislature likely will not like this aspect of the project. There is more demand than ever before for privately funded arena and stadium projects. Afterall, the owners of sports franchises are billionaires.

The matter of the fact is, losing the Bears would be devastating for Chicago.

One of the NFL’s oldest and most historic franchises belongs in Chicago. But the team needs a new stadium. Continuing to operate in a century old stadium without significant renovations or rebuilding won’t cut it. A solution needs to be found or the Bears might have to look elsewhere for a new home.

There has been rumblings in Indiana of trying to lure the Bears there. If a new Chicago Bears stadium isn’t built in  the near future, relocation becomes a real possibility.

Via Stateline:

Indiana Democratic state Rep. Earl Harris Jr. wants to lure the NFL’s Chicago Bears, who are aiming to leave longtime home Soldier Field, to northwest Indiana. Harris filed a bill that would create a new taxpayer-funded sports development commission charged with attracting a pro sports team to the area.

Whether this proposal comes to fruition or not is yet to be seen. One thing is for sure, the future of the Bears has not gotten any clearer. Without a new Chicago Bears stadium the teams days in the city might be numbered. Or maybe not. Perhaps a “rebuild” of Soldier Field could be an option, like what happened in Miami.

What do you think of this proposal for a new Chicago Bears stadium? Feel free to discuss this and everything Bears on our forum.