The Chicago Bears have changed their course in their pursuit of a new stadium. Reports indicate that the team has abandoned its plans to construct facilities in the suburbs and instead intends to remain in the city by building a new domed venue immediately south of Soldier Field.
The introduction of a domed stadium not only provides relief for fans accustomed to enduring harsh weather conditions during games but also enables the team to host significant events year-round. A team-conducted survey revealed strong support among fans for the construction of a domed stadium.
In a statement provided to Sportico, the team expressed its commitment to contributing over $2 billion towards the construction of the stadium and enhancing open spaces for families, fans, and the general public to enjoy in the City of Chicago.
The Bears anticipate that the future stadium will bring transformative opportunities to the region, including boosting the economy, creating jobs, hosting mega events, and generating significant tax revenue. Further details regarding the plans will be shared once finalized.
The financial contribution from the public towards this new stadium project remains undisclosed.
Soldier Field, with a current capacity of 61,500 seats, holds the distinction of being the smallest stadium in the NFL. Originally opened in 1924, the venue underwent a substantial renovation over 20 years ago, which essentially involved rebuilding the entire structure at a cost of $630 million. During this renovation, the Bears played their 2002 season on the University of Illinois campus.
Despite the renovation efforts, the Bears still lagged behind the league’s top earners. Their business performance in the largest market with only one NFL team has been a source of frustration for other NFL owners. In the 2022 season, the Bears recorded an estimated revenue of $561 million, ranking 13th in Sportico’s NFL team valuations. However, their value of $6 billion placed them eighth, owing to the potential and financial resources in the Chicago market.
It is anticipated that the Bears will continue to utilize Soldier Field until the completion of the new stadium, with their current lease extending through 2033.
Previously, the Bears had been focusing on constructing a new stadium in Arlington Heights, a northwest suburb of Chicago. In 2021, the team entered into a purchase agreement to acquire a 326-acre racetrack from Churchill Downs for $197 million, intending to develop it as the site for a new stadium and mixed-use development. However, the high property tax rates for the site prompted the Bears to reconsider, leading them to explore alternative stadium options.
Various Chicago suburbs, including Waukegan, Naperville, and Aurora, pitched proposals to the Bears for relocation. Subsequently, the team reconsidered remaining within the city, including exploring locations near their current home by Lake Michigan.
In early 2023, the Bears appointed former Big Ten Commissioner Kevin Warren as their CEO, with one of his primary objectives being to resolve the stadium issue. In June of the same year, Warren met with Chicago Mayor Brandon Johnson to discuss the matter, culminating in a joint statement emphasizing their shared commitment to the city’s growth and evolution.
