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Bears $5B proposal - how can it possibly work financially?

Posted by Potomac <iframe src='https://members.boardhost.com/onedeuce/info/user=Potomac' width='330' height='300' border=0 style='border:none;'> on April 25, 2024, 6:14:53

That's an incredible amount of money, and a positive ROI has to be about impossible. Especially when money goes to making it extra fancy, and for what, a lifetime of 20-30 years with major renovations no doubt along the way?

Let's suppose $4B is borrowed at 5%. That's $200M for debt service alone.

And the Bears already play in Chicago, so the games are not new economic activity.

it's just a math problem. the chicago stadium will be less profitable for the bears than arlington.

Posted by auto <iframe src='https://members.boardhost.com/onedeuce/info/user=auto' width='330' height='300' border=0 style='border:none;'> on April 25, 2024, 10:30:01, in reply to "Bears $5B proposal - how can it possibly work financially?"

so they need the city/state to step in and make up the difference.

johnson is willing to write that check. early indications are that pritzker isn't, but we'll see how much of that is just trying to say that he was against it before he was for it so that he can take credit for getting to done while also claiming to be a good steward of the state's money.

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the problem is johnson doesn't have anything in his checking account.*

Posted by Ari Gold <iframe src='https://members.boardhost.com/onedeuce/info/user=Ari+Gold' width='330' height='300' border=0 style='border:none;'> on April 25, 2024, 12:31:26, in reply to "it's just a math problem. the chicago stadium will be less profitable for the bears than arlington."

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I have been wondering how much $$$ Chicago really has to spend on this.*

Posted by Lexillini <iframe src='https://members.boardhost.com/onedeuce/info/user=Lexillini' width='330' height='300' border=0 style='border:none;'> on April 25, 2024, 12:33:49, in reply to "the problem is johnson doesn't have anything in his checking account.*"

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The welfare of humanity is always the alibi of tyrants.

Socialism is the gospel of envy.

I don't think it can work.

Posted by Lexillini <iframe src='https://members.boardhost.com/onedeuce/info/user=Lexillini' width='330' height='300' border=0 style='border:none;'> on April 25, 2024, 6:24:45, in reply to "Bears $5B proposal - how can it possibly work financially?"
weiner sleeve

I suspect this is primarily intended as cover for when the Bears do eventually move to Arlington Heights. "We wanted / tried to stay in Chicago!"

The welfare of humanity is always the alibi of tyrants.

Socialism is the gospel of envy.

I can't imagine the Bears moving to Arlington...but I mean, the Niners moved to Santa Clara...

Posted by haighter <iframe src='https://members.boardhost.com/onedeuce/info/user=haighter' width='330' height='300' border=0 style='border:none;'> on April 25, 2024, 7:12:35, in reply to "I don't think it can work."
Boo Haighter

...but anyway, I can't imagine the Bears being able to / having the will to completely fund their own stadium bill...and I don't think they're going to get MORE from Arlington Heights than they do from anywhere else.

Maybe I'm wrong...but I feel like public money is going to be a requirement for any stadium they want to build anywhere. They just don't have the funds otherwise.

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I suspect this is primarily intended as cover for when the Bears do eventually move to Arlington Heights. "We wanted / tried to stay in Chicago!"

I read that the Bears are worth $5B and could be $10B with a new stadium

Posted by groupguy <iframe src='https://members.boardhost.com/onedeuce/info/user=groupguy' width='330' height='300' border=0 style='border:none;'> on April 25, 2024, 7:45:12, in reply to "I can't imagine the Bears moving to Arlington...but I mean, the Niners moved to Santa Clara..."

And redeveloping 300 acres in Arlington Heights was a way to pull it off…

But I’m thinking taxes and the risks associated with that massive amount of new office capacity post-COVID are cutting the NPV of the project .

So the Bears are looking to move that risk. Maybe AH should consider some contingent tax breaks, where they share the risks and rewards based on how well the new restaurants, hotels, offices, etc. work out.

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I suspect this is primarily intended as cover for when the Bears do eventually move to Arlington Heights. "We wanted / tried to stay in Chicago!"

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