Silver Optimistic About New Bucks' Arena PNC Arena Expansion Plans Revised Plans Advance For DC Soccer Stadium DePaul Arena Will Cost More Than Once Thought Reds Upgrading GABP Ahead Of All-Star Game Flames Close To Arena Announcement? Vegas Arena Could Be First With Retractable Roof Univ. Of Nevada Proposes Mackay Upgrades Facility Notes Saints' Benson Gives $11M To Pro Football HOF
BEARS MAKE IT OFFICIAL -- THEY WANT OUT OF THEIR DEN
Published April 13, 1995
Bears President Michael McCaskey announced the team's latest proposal to move from Soldier Field. The plan calls for a $285M, 74,000-seat stadium financed primarily by public funds to be located at one of three sites -- two in the suburbs and one in the city. The Chicago site is at the "western-most portion" of O'Hare Airport. Chicago Mayor Richard Daley, who earlier this week expressed doubt that the Bears were going to move, "reacted calmly" noting that negotiations are "just beginning" over the Bears' Soldier Field lease, which expires in '99. According to McCaskey, the Bears will seek legislation to issue bonds to cover $185M of the cost. The other $100M would be "raised by the team," from a variety of sources including rent, advertising rights, parking, concessions, and PSLs. However, McCaskey acknowledged that the $285M "would not include the funds" needed to cover land or infrastructure (Reardon & Pierson, CHICAGO TRIBUNE, 4/13).