The Chicago Bears revealed plans for a new lakefront stadium during a presentation held at Soldier Field on Wednesday.
The project is estimated to cost $4.6 billion, as reported by the Sun-Times. The Bears outlined the financial breakdown, with $2 billion pledged by the organization itself. Additional funding will be sourced from an NFL loan request ($300 million) and a bond request from the Illinois Sports Facilities Authority ($900 million), totaling $3.225 billion. The remaining funds will be allocated towards infrastructure improvements. The organization stated that 72% of the funding will come from themselves and the NFL.
Chicago Mayor Brandon Johnson assured that the construction of the new stadium will not result in new taxes for the city’s residents.
Bears President and CEO Kevin Warren expressed the organization’s commitment to taking on challenging projects. He stated, “This is not an easy project, but Chicago doesn’t like it easy. We like to do the difficult things … the things that resonate with people for generations to come.”
The Bears unveiled renderings of the proposed state-of-the-art stadium, which will be located atop the current South Parking lot of Soldier Field along Chicago’s lakefront. The renderings showcase a domed stadium with an all-glass roof, retaining the historic colonnades of Soldier Field. The design bears similarities to stadiums like Allegiant Stadium in Las Vegas and U.S. Bank Stadium in Minnesota.
The team released the renderings and a video of the proposed stadium on ChicagoBears.com.
