In March 2024, the Chicago Bears announced their plans to build a new stadium along the downtown lakefront at Museum Campus. One month later, the team shared some nifty-looking renderings of its stadium project. But fast forward nearly a year later and it seems like Chicago’s football team is closer to taking its talents to suburban Arlington Heights than it is to getting a deal done to stay in the city.
Chicago Bears Stadium Watch: Another step toward Arlington Heights
It appears as if the Chicago Bears are positioning themselves for a move to Arlington Heights. According to reporting from Christopher Placek (Daily Herald) and Robert McCoppin (Chicago Tribune) from over the weekend, the team has resumed its exploration of a move out to the property at Arlington Park that was purchased a few years ago. Arlington Heights Mayor Tom Hayes made it clear that this is far from a done deal, but Bears President Kevin Warren confirming the team’s efforts speaks volumes about where this is headed.
It feels like decades have passed since Patrick Flowers and I ventured out to Arlington Heights for the Bears town hall announcing their suburban stadium plans. But I did the math and it has only been three years. And yet, I feel like I have lived seven different lives since that September night. I feel as if a sense of apathy has set in among Bears fans who have been keeping tabs on the stadium. At this point, I think people care less about where it is and more about the fact that it eventually happens. Bears fans deserve a state-of-the-art stadium. I just hope that they aren’t footing the bill for it.
Mandatory Credit: Jonathan Daniel /AllsportA Chicago Bears ownership update
Writing about the future of Bears ownership is tricky after Virginia Halas McCaskey’s passing in February. But one thing that seems certain is that there isn’t going to be any movement on that front in the immediate future.
Back in February, Marc Ganis — the founder of Sportscorp and long-time sports business expert — shared that while there figures to be outside interest from folks who would want to buy the Bears, there is an expectation that the McCaskey family would turn down any inquiries. Here is the clip via 670 The Score:
It's highly likely that a number of individuals and groups will inquire about buying the Bears, Sportscorp founder Marc Ganis told @mullyhaugh.And those offers will almost certainly be rebuffed by the McCaskey family.Listen: t.co/Mb85k3JBb5 pic.twitter.com/fgeQXBhKwj
— 670 The Score (@670TheScore) February 13, 2025Words from Ganis:
“The short answer is, yes, quite a few. This is arguably, potentially the most valuable team in the NFL. Greatest market here in Chicago, great history, and a team that hasn’t settled its stadium situation yet, and has a lot of margin on the upside financially if they chose to exploit those opportunities that are there. That all having been said, from everything I have seen personally, I have heard the McCaskey family — in this next generation led by George — are absolutely committed the team within the family. And that even though it is highly likely they will get approached, I would expect every offer to be rebuffed, even what I would expect to be some very significant proposals.”
In other words, don’t expect the franchise to put a “FOR SALE” sign in front of Halas Hall anytime soon.
Will the Bears follow the NFL’s private equity trend?
A pair of NFL teams have recently announced their intent to test the waters of private-equity investments in an attempt to snag more cash. Sports Business Journal has scoops on the New York Giants and San Francisco 49ers exploring the possibility of selling off a part of the team. The Giants are reportedly interested in selling up to 10 percent of the team, which has valuations that put the franchise’s value in the $7 billion range. The Niners are also kicking the tires on selling a 10 percent stake of the team, which could put the price tag in the vicinity of $900 million. These are bonkers times to have stakes in an NFL team.
I bring this up because it is fair to wonder if the Bears would consider following the Giants and Niners’ lead and sell off a 10 percent chunk of their franchise to get a wad of cash up front. It is the kind of thing that could go a long way for a team that is trying to build a new stadium.
© David Banks-Imagn ImagesFor what it’s worth, this is what Bears President Kevin Warren had to say (via The Athletic) about private equity in the NFL back in October when the Bears were in London to play the Jaguars:
“At this point in time, it is not something that we are focused on and exploring in Chicago.
“I say that to say, these next couple of months my focus will be to make sure I truly understand how the private equity system would work in the NFL.
“There has not been a team announced yet who has gone and accepted the opportunity from a private equity standpoint but we already started a couple of weeks ago, the moment it was actually announced, and I will spend the next couple of months really digging deep into it. Not only how it operates but the financial implications, what happens down the road.
“I want to make sure any decisions we make do not create any unintended consequences.”
Quick translation of the words above: The Bears weren’t actively exploring private equity as an avenue to bankroll their stadium push, but it isn’t something that was totally ruled out. In other words, this might be something worth keeping an eye on — if not the Bears right now, then with the Niners and Giants setting the stage for Chicago’s football team (and others) following suit.
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