• Loading stock data...
Wednesday, May 15, 2024

Bears, White Sox Could Consider ‘Financing Partnership’ for Stadiums

  • The White Sox’ partner developer looks to fold the NFL team into a bigger plan.
  • Shared stadium financing plans have a sports industry precedent.
Patrick Gorski-USA TODAY Sports

Why should two neighboring pro teams compete for the same pot of public money if they don’t need to? Such is the theory underpinning a potentially transformative partnership developing in Chicago between the Bears and White Sox. 

The Bears’ long-running effort to build a new, domed stadium has more recently been joined by an announced plan by the White Sox to construct a ballpark near Chicago’s downtown. Since both teams could be drawing from the same hotel tax funds to build their respective stadiums, city officials have encouraged a more collaborative approach to help ensure both projects ultimately get done. 

Related Midwest—the developer working with the White Sox on their project on a spot of land located near Chicago’s South Loop and called “The 78”—said to the Chicago Sun-Times that the company is working on a “financing partnership” with the teams that would link the two stadium projects.  

“Wouldn’t it be unbelievable for our city if you were to see two amazing facilities for these great sports teams built at once?” Curt Bailey, Related Midwest president, told the Sun-Times.

Many details are still undetermined in the potential deal, perhaps most notably where the Bears intend to build their venue. There also isn’t anything close to a final economic framework. But there does exist an ongoing dialogue to create a shared framework, with those talks also extending to potentially relocating either the MLS’s Fire or NWSL’s Red Stars, or both, to a retrofitted Guaranteed Rate Field after the White Sox leave that ballpark.

Civic Precedent

Several other U.S. cities in recent decades have tackled public financing for more than one pro sports facility at the same time. But perhaps the most notable example occurred a quarter century ago when Pennsylvania state officials approved funding to help build what became PNC Park and Acrisure Stadium in Pittsburgh as well as Philadelphia’s Citizens Bank Park and Lincoln Financial Field. 

Though highly controversial then—and also many years later—given the always-divided opinions around using taxpayer funds for private sports teams, the approach in Pennsylvania was then seen by state leaders as an efficient way to manage several converging desires for stadium upgrades. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NFL’s Schedule Points to Network Strategies: Chiefs Lead, Texans Rise

The two-time defending champions are a fixture across many of the league’s tentpole events.

PGA Championship Setting Revenue Records, but LIV Drama Still Looms

The PGA Championship tees off Thursday morning at Valhalla Golf Club.

Caitlin Clark Debuts With WNBA’s Most-Watched Game in Decades

The game averaged 2.12 million viewers, the WNBA’s highest since 2001.

NFL-Netflix Deal Could Set Stage for Mother of All Cash Grabs

The NFL’s leverage with streamers and broadcasters is only increasing.
podcast thumbnail mobile
Front Office Sports Today

Paramount Sale at Major Fork in the Road

0:00

Featured Today

The WNBA Was Forged in Houston. Why Won’t It Go Back There?

Houston’s a perfect fit for expansion. The league isn’t considering it yet.
May 9, 2024; Indianapolis, IN, USA; Indiana Fever guard Caitlin Clark (22) stands with the team during the national anthem on Thursday, May 9, 2024, during the preseason game against the Atlanta Dream at Gainbridge Fieldhouse in Indianapolis.
May 12, 2024

‘Perfect Storm’: The Rise of Local WNBA Broadcast Pacts

With national attention reaching new heights, regional coverage could dictate the future.
Mar 29, 2023; New York, New York, USA; American actors and comedians Chris Rock (left) and Ben Stiller sit court side during the third quarter between the New York Knicks and the Miami Heat at Madison Square Garden.
May 11, 2024

The Haves and Have-Nots: How the Knicks’ Celebrity Row Works

Unwritten rules, an expectation of quid pro quo, and nothing is free.
May 6, 2023; Miami Gardens, Florida, USA; Red Bull driver Max Verstappen (1) of the Netherlands walks through the garage area following qualifying for the Miami Grand Prix at Miami International Autodrome.
May 5, 2024

Max Verstappen Is Unstoppable. Is That Hurting F1 With New American Fans?

Formula One could be facing an inevitable plateau in the United States.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers
Jaguars rendering 2024

Jags’ Latest Stadium Plan: $1.4B in Upgrades, Relocate for ’27 Season

The NFL team and Jacksonville mayor Donna Deegan presented a new stadium renovation agreement.
May 3, 2024

RFK’s Demolition Could Fast-Track Commanders’ Return to D.C.

The National Park Service gives the official green light to demolish the vacant facility.
May 9, 2024

Meet the … Utah Yeti? NHL Franchise Polling 20 Options for New Team Name

Jerseys will say ‘Utah’ for next season.
Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.
May 2, 2024

Bears’ $4.7 Billion Stadium Pitch Caught in a Game of Political Football

The office of Illinois Gov. J.B. Pritzker brands the team’s stadium proposal as a ‘nonstarter.’
May 1, 2024

Chiefs, Browns’ Stadium Renderings: Familiar Looking and … Premature?

New renderings and funding proposals begin to take shape long before any stadium deals are finalized.
April 30, 2024

Not a Done Deal: Arlington Heights Keeps Its Bears Stadium Hopes Alive

Arlington Heights’ mayor says the village is ready to restart stadium talks with the NFL team.
April 30, 2024

The A’s Still Have a $1.5B Question: Where’s the Money Coming From?

Team owner John Fisher reportedly looks to raise $500 million to help fund a new ballpark.