Report: Taxpayers would cover half of proposed Bears lakefront stadium

The Chicago Bears are set to usher in a new era of football this week during the 2024 NFL Draft, but they’re also trying to do the same when it comes to their new stadium. The team is set to announce plans for a new lakefront stadium on Wednesday, and details about the project have started to surface.

According to the Chicago Tribune, the Bears’ plan to build a new stadium will cost approximately $4.6 billion, with half of that coming from taxpayers. The actual enclosed stadium would cost around $3.2 billion, and the other $1.4 billion would be used for improvements to the infrastructure. All of this and more is expected to be announced at noon CT on Wednesday during a press conference with the Bears and the city of Chicago.

While the plans may be getting underway, the Bears may have a hard time pulling this off for a number of reasons. They will need to get state officials on board with the plan, and they haven’t shown much interest in either the Bears or the White Sox, who are also requesting money for a new Chicago stadium. It’s worth noting that Chicago taxpayers are still on the hook for approximately $629 million for the Soldier Field renovations and the building of Guaranteed Rate Field back in the early 2000s. The Bears will also need to win over the “Friends of the Park” nonprofit organization, which has already come out against building a new stadium just south of Soldier Field.

These impending plans are the latest pivot in the never-ending stadium saga that began with the Bears entering into an agreement to purchase 326 acres of land in Arlington Heights nearly three years ago. Since then, the twists and turns, including the change in leadership from Ted Phillips to Kevin Warren, have landed the team back in a position where they’re looking to stay in the city.

Wednesday’s press conference will hopefully answer plenty of questions. The $3.2 billion price tag for the stadium alone certainly raises eyebrows, though. It would be the second-most expensive NFL stadium in the country, according to Rob Schwarz Jr. of Bear Goggles On. As for the $2.3 billion taxpayers would owe, fans and residents of Chicago aren’t loving the idea.