The Chicago Bears officially announced they’ve signed a purchase agreement for the Arlington Park property that could serve as the future home of a new state-of-the-art stadium. That, or it could be a negotiating tactic as the team shows it’s serious about potentially leaving Soldier Field if they can’t get the renovations they need.
While Soldier Field has its storied history, it is the smallest stadium in the NFL (61,500 capacity). Any potential renovations are limited given that the stadium is owned by the city of Chicago. So building a new stadium — where the Bears have control — isn’t a crazy idea at all.
The Bears’ lease at Soldier Field runs through 2033. But the Bears would have to pay $84 million to the city if they break the lease in 2026. That would decrease after 2026.
Here’s the official statement from Bears President and CEO Ted Phillips:
“We are excited to have executed a Purchase and Sale Agreement (PSA) for the Arlington Park property. We are grateful to Churchill Downs Incorporated for their efforts to reach this point. We also appreciate the support of Mayor Tom Hayes and the Village of Arlington Heights. Finalizing the PSA was the critical next step in continuing our exploration of the property and its potential. Much work remains to be completed, including working closely with the Village of Arlington Heights and surrounding communities, before we can close on this transaction. Our goal is to chart a path forward that allows our team to thrive on the field, Chicagoland to prosper from this endeavor, and the Bears organization to be ensured a strong future. We will never stop working toward delivering Bears fans the very best experience. We will continue to provide updates on our progress at the appropriate time.”
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