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Started By
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re: Bears to request more than $2 billion in public money to fund $4.6 billion stadium.
Posted on 4/24/24 at 2:29 pm to Bunk Moreland
Posted on 4/24/24 at 2:29 pm to Bunk Moreland
Bad football team.
Bad economy.
High tax state.
Sure go ahead and ask the citizens if they wanna foot the bill for a new stadium.
Bad economy.
High tax state.
Sure go ahead and ask the citizens if they wanna foot the bill for a new stadium.
0
Posted on 4/24/24 at 2:47 pm to nvasil1
quote:
No one knows why the Bears suddenly pivoted away from Arlington Heights and back to the city.
Dispute over property tax revenue.
Posted on 4/24/24 at 2:57 pm to Bunk Moreland
Get in line behind Ukraine
Posted on 4/24/24 at 3:22 pm to Wally Sparks
quote:
Dispute over property tax revenue.
I'll be curious to see how much of the $197MM they spent on it they'll be able to recoup.
Posted on 4/24/24 at 4:53 pm to Chucktown_Badger
Dude Solider Field was built in 1924. It’s 30 years older than Lambeau. The renovations were a disaster and super short sited by the organization and the city. Anyone who has ever been to a game at SF knows it’s horrible.
Posted on 4/24/24 at 6:38 pm to ChiGator
It should be open air… there is a Principal involved….
Posted on 4/24/24 at 7:02 pm to chalmetteowl
quote:
The people footing the bill aren’t trying to watch Bears games outdoors in January Chicago weather
It's the Bears, how often will they even be playing in January?
Posted on 4/24/24 at 7:13 pm to Bunk Moreland
quote:
I've been wondering about that. Is it worth having the indoor facility for a Final Four once every 15 years and a couple of Taylor Swift concerts every five years?
I'm sure the B10 title game would be there annually.
Posted on 4/24/24 at 7:32 pm to GoGators1995
Jerry World hosts rodeos, concerts, soccer games, conventions, rodeos, boxing matches, high school playoffs, college games, and more. Jerry makes a fortune in the offseason renting out his stadium.
Chicago would have no problem attracting big events to an indoor stadium.
Chicago would have no problem attracting big events to an indoor stadium.
Posted on 4/24/24 at 9:49 pm to Bunk Moreland
If they do it with a mechanism like hotel and rental car taxes, who cares.
Posted on 4/24/24 at 9:58 pm to Celery
quote:Like they did for the 2nd largest market for so many years?
The NFL will see to it that the 3rd biggest market in the country always has a team.
Posted on 4/24/24 at 11:14 pm to Corinthians420
They obviously want a super bowl with the size of the TV market. Also the B10 championship game, and other big events.
Posted on 4/25/24 at 7:48 am to ChestRockwell
These threads are always a good time to point out that Joe Robbie built the stadium the Dolphins play in with his own money. And Robbie wasn't an uber-wealthy man like some of these owners today.
It's also a good time to point out the federal government basically stole the franchise from the Robbie family with immoral and unethical estate and inheritance taxes when Joe died.
It's also a good time to point out the federal government basically stole the franchise from the Robbie family with immoral and unethical estate and inheritance taxes when Joe died.
Posted on 4/25/24 at 9:50 am to ChiGator
quote:
Dude Solider Field was built in 1924. It’s 30 years older than Lambeau. The renovations were a disaster and super short sited by the organization and the city. Anyone who has ever been to a game at SF knows it’s horrible.
The original soldier field was built in 1924. The 2002 renovation plopped basically an entirely new stadium inside the colonnades. And I agree, the stadium and the fans in it, suck. But how is that poor plan and poor design the fault of the taxpayers? Why didn't they just get it right twenty years ago?
Also, this is one hell of an oof.
quote:
Documents obtained by NBC 5 Investigates show the actual bond issue by the Illinois Sports Facilities Authority came to $398 million. But today, more than 20 years after that money was borrowed, the ISFA still owes over $383 million in principal, and more than $256 million in interest.
That’s a total of over $640 million, $63 million more than was originally borrowed, even after making payments for more than 20 years.
Daley left the city with a couple awesome parting gifts. I distinctly remember this one as well
quote:
Now, if you want to plug a budget gap, raising property taxes will do the trick. But if you want to remain popular with voters, that’s not such a great idea.
So Mayor Richard M. Daley got creative. He looked around for assets to sell.
What about Chicago’s 36,000 parking meters? Bingo!
A hastily formed investment group — the creatively named Chicago Parking Meters LLC — agreed to cough up $1 billion and change for a 75-year lease, and Chicago City Council rubber-stamped the plan faster than members could read the terms of the deal.
A billion dollars sounds like so much money. And it is. But so much money may have gotten left on the table.
Some analysts believed the parking meters were worth at least $2 billion.
quote:
Plenty of people have searched for loopholes that would allow the city to break this almost comically lopsided lease. No dice.
The courts have called the deal “foolish, short-sighted or worse,” but, it turns out, it’s not illegal to strike a bad deal.
With some 60 years left on its lease, Chicago Park Meters LLC has already made back its initial investment — and then some!
Ahhhh Chicago, never change.
Posted on 4/25/24 at 11:49 am to Pedro
quote:
what better time to seek public money then when youve been playing like absolute garbage.
bears arent going anywhere. city needs to nut up and tell them to frick off.
The city is the one who put this deal together and blocked the Bears from moving to a location outside of the city. The team had already purchased land at the location of an old racetrack and was going to develop the entire area. The city through lawsuits around tax revenue and political strong-arming created a scenario where the bears essentially had to remain in the city.
Also, the city would be more than happy to pass along the costs to the residents or visitors. The hotel tax there is nearly the same cost as a hotel room these days, it's crazy.
It's fun to laugh at the Cowboys, but you really have to respect that Jerry Jones privately funds all of the facilities for the Cowboys.
This post was edited on 4/25/24 at 11:53 am
Posted on 4/25/24 at 1:44 pm to chinese58
quote:
Like they did for the 2nd largest market for so many years?
I little difference in appetite and support for the NFL team in Chicago vs LA.
Posted on 4/25/24 at 1:46 pm to RolltidePA
quote:
The city through lawsuits around tax revenue and political strong-arming
Any links or additional information here? From my understanding the issue was in Arlington Heights, which is not part of Chicago and run separately.
Posted on 4/25/24 at 6:04 pm to Bunk Moreland
What really gets me is they want the taxpayers to help build their stadium and in return are rewarded with higher ticket prices. They get em coming and going.
Posted on 4/25/24 at 6:14 pm to Bunk Moreland
Those renderings are great. It would suck for the scumbag liberals of Chicago to have such an amazing stadium, piss off with that
Posted on 4/25/24 at 7:51 pm to Chucktown_Badger
quote:
Any links or additional information here? From my understanding the issue was in Arlington Heights, which is not part of Chicago and run separately.
Arlington Heights is still in Cook county. Chicago power structure pretty much runs the county. The Cook County Board of Review was the body that decided on the assessment of property taxes, quintupling what the tax bill should have been. The city pulled strings with the board to ensure that they wouldn’t get a favorable ruling and the Bears would be squeezed into staying in the city. Sleazy stuff, typical of Chicago.
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