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).
