Soldier Field would "remain one of the most modern
stadiums in the NFL" after it is renovated under the memo of
understanding between the Bears and the Chicago Park
District, according to McKinney & Spielman of the CHICAGO
SUN-TIMES, who write that if the deal passes the IL General
Assembly this week, the IL Sports Facilities Authority would
be "obligated," at the team's request, to fund new amenities
at Soldier Field if "those same features are in use in at
least 25 percent of other NFL stadiums." According to an
"expert with experience negotiating other stadium-financing
deals," if passed, the deal could mean that the value of the
Bears franchise may "balloon" from current estimates of
$500M to "anywhere from" $800M to $1B. Suburban Chicago and
Downstate IL lawmakers have "expressed skepticism" about the
deal, fearing that taxpayers could be "left on the hook" for
stadium debt costs if the city hotel tax revenues to be used
for the stadium renovation fail to continue to grow at the
projected 5% per year. The stadium proposal needs 30 votes
to pass the state Senate, where discussion the bill is
expected to begin today or tomorrow (SUN-TIMES, 11/28).
LICENSE TO SELL: In Chicago, Rick Morrissey writes on
the Bears' plan to sell PSLs: "Asking 30,000 depressed
people to each spend at least $1,500 to have the right to be
season-ticket holders comes from the same part of the brain
that created pay toilets. You would think that watching the
Bears finish 3-13 is enough torture without a few lashes of
destitution being added. Paying for the right to watch a
fish be gutted can't be far behind." But Muhleman Marketing
CEO Max Muhleman, a supporter of PSLs, said, "The greater
problem is not having to pay for the stadium. ... We can
talk about justification, but we've seen it happen time
after time that these teams, without that chance of having a
better stadium, leave" (CHICAGO TRIBUNE, 11/28).
