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DALEY PLAYS GOOD SOLDIER; RENOVATION PLAN PLEASES MCCASKEY
Published October 18, 1995
Chicago Mayor Richard Daley's $156M renovation plan for Soldier Field unveiled yesterday "pleased" Bears Owner Michael McCaskey and may be "serious enough to prompt" the state to abandon their plans for a $300M domed stadium near McCormack Place, according to today's CHICAGO TRIBUNE. The renovation would lower the playing surface by 13 feet, and raise capacity to over 70,000 with 4,000 new seats. Fans holding the 15,000 "best seats" would have to pay a one-time PSL fee ranging from $300- 1,000 for the rights to buy tickets. The PSL revenue would go towards retiring the debt incurred from refinancing $55M worth of Park District bonds and the additional $100M in industrial revenue bonds. Additional premium seats were also "attractive to McCaskey," including a ring of 180 skyboxes around the field. There are currently 116. The team would also receive revenue from a restaurant, museum, parking, concessions, and stadium advertising. With more talks planned between McCaskey and City Hall for this week, officials from Northwest Indiana trying to lure the team to Gary present their plan to McCaskey on Thursday (John Kass, CHICAGO TRIBUNE, 10/18).