Things are not going smoothly at all for the Chicago White Sox and Bears stadium plans, with White Sox owner Jerry Reinsdorf facing criticism not just for his record-shattering $2 billion public subsidy demand but for his ties to a guy who did jail time in Iraq for trying to assassinate the prime minister, while pretty much everyone hates on Bears owner Virginia Halas McCaskey’s lakefront domed stadium plan. Time for the billionaires to seize control of the narrative! Which means splashy stadium announcements — but first, to prime the pump and maximize air time, announcements of those announcements:
- Bears officials issued a statement yesterday that they plan to issue a statement on Wednesday presenting a “state-of-the-art, publicly owned enclosed stadium” near Soldier Field on the Lake Michigan lakefront. The Chicago Tribune reports that “the team has pledged to spend $2 billion in private money” while “the cost of the stadium is estimated at $2.5 billion to $3 billion, plus $1 billion for associated roads and other infrastructure.” For the math-challenged, that leaves $1.5 billion to $2 billion to be covered by taxpayers — not including the presumed exemption from property taxes that would come with a publicly owned stadium, and assuming the team’s $2 billion is really $2 billion.
- Reinsdorf had “a source close to” him, which could easily be Reinsdorf himself, tell Crain’s Chicago Business that he is totally willing to put in some of his own money toward a $1.25 billion stadium, which would be part of a massive South Loop redevelopment project on land owned by Nadhmi Shakir Auchi, the aforementioned ex-con Iraqi real estate baron. Reinsdorf’s avatar didn’t specify how much money, mind you, but different sock puppets “close to negotiations” told Crain’s that “Reinsdorf has mentioned a figure of $200 million or more.” This earned the ur–savvy negotiator the Crain’s headline “Reinsdorf offers to open wallet for new Sox stadium.”
Let’s take the Bears first. While we’ll have to wait till tomorrow to see whatever renderings and other distractions the team throws at the public, the intended framing here is clear: McCaskey, or whoever actually controls the 101-year-old owner’s bank account, plans on spending two billion dollars on a new stadium not in the suburbs, and all that’s left is for someone to figure out how to raise maybe another $2 billion, no problemo. While unlikely to immediately sway skeptical state officials, it’s the necessary first step to change the narrative from “you and Reinsdorf need to get together and figure out something that doesn’t cost taxpayers billions of dollars” to “oh, well, if you’re offering to pay for at least half of your insanely expensive stadium project, then maybe we can talk.”
As for the comparatively youthful Reinsdorf (he’s 88), offering $200 million while demanding $2 billion in public funds might seem like chump change. But his reality distortion field is strong, and he’s effectively managed to anchor people’s expectations to where him putting up any money at all might just feel like a win. (To Crain’s headline writers, anyway.) As with his Chicago NFL frenemies, Reinsdorf doesn’t need a winning argument just yet, he just needs to get the conversation off of his ten-digit subsidy demands and partner’s shooty past and onto what he’s willing to do for you, which is to generously pay for maybe 20% of his own stadium’s construction cost, something he should easily get back in property tax exemptions alone.
Tl;dr: The Bears and White Sox owners are still asking for close to $2 billion in tax money each to help pay for new stadiums so they can make more money, but they want it to seem like a bargain. There’s a ways to go to get there, but the payoff would be lucrative enough that it’s worth throwing rhetoric against the wall to see what sticks.
Is this like how we have teaser trailers for movie trailers now? And fanbases compete based on how many views they get, and how fast? I bet da Bearz’ vaporware will hit 10 million in a week! I just wonder if either team will go edgy with the F-bombs like Deadpool & Wolverine.
As a Chicago resident & tax payer, I am fine with the city paying $1.5 billion to buy the 3-19 White Sox and keep them in Guaranteed Rate Field at the current rent of $1.5 million per year.
Bears announcement a day before the draft and their 1st pick of a new franchise quarterback. “Hey Chicago we’ve had a string of crappy quarterbacks for 40 years because we don’t know how to build a winning team, and now we got a chance for a good one, so whaddya say about giving us $2 billion. “
100 something year old Virginia McCaskey will draft Jay Cutler again. Now, that’s a really wasted draft choice. Chicago teams draft skills tanked in 1985. As for the White Sox, look out 1962 Mets.
The Bears make plenty of stupid draft picks, but Cutler wasn’t one of them. He was Denver’s mistake. Bears traded a bunch of randos for Cutler. Only one, Mike Wallace, ever made a pro bowl. And, sadly enough, Cutler is the Bears all-time yards and TD leader. But hey, this’t a football chat site.
Drafting J Cutlor was a mistake. He was a bust, don’t care about how many yards he threw. He never took us to the Superbowl
One of the IL politics blogs shares your skepticism.
https://capitolfax.com/2024/04/23/you-gotta-be-kidding-me-13/
‘presenting a state of the art publicly owned (enclosed) stadium near the lakefront’
OMG! OMG! People! It worked! All that derision directed at the Bears and now they are going to GIVE a state of the art stadium to the people of Chicago!
Isn’t that wonderful?
And the stadium will be enclosed so that wolves, and sasquatches and aliens from Zepton and things can’t just randomly wander in during games!
All we have to do is give them lakefront land, which isn’t a gift as it will totally be OUR stadium and we can go there and do anything we want any time we want FOR FREE!
And some tax breaks and other stuff plus demolition of the existing former landmark stadium that was supposed to be a memorial to war dead. But who cares about that crap IT’S ALL ALL FREE!!!!! because the Bears are great people and love Chicago so much that even though they threatened to move to Arlington (what Schaumburg was full?) they are now coming back and all they need is as much of the lakefront land as we can possibly give them and $2-3Bn.
Speaking of Schaumburg, I’m kinda surprised the McCaskeys didn’t eye the old Motorola campus out there as a potential site for a new stadium. Seems cheap and hair-brained enough for them to entertain it.
The enclosed part is actually kind of a big deal in the PR wars. Chicago has long lost out on the premier sporting events like the Super Bowl and Final Four as well as major conventions because the city didn’t have an enclosed stadium. Now, are those events worth spending billions in public money? Absolutely not, but it allows the Bears to get into the game of “the Super Bowl will generate $90 quintillion dollars for the local economy if y’all chip in taxpayer money, don’t look at the details too closely.” Bank on it being a major part of their pitch to the city and Cook County.
I’m curious to see if we’ll get any details about the ‘other infrastructure’ for the Bears project. There’s a Crosstown Connector plan that would run tracks from Union Station to McCormick Place and offers a variety of benefits, from improving transportation to SF/McCormick Place to increasing high speed rail possibilities in the region. If this stadium project can jumpstart some infrastructure projects to improve overall transportation in the area that would at least be intriguing.
When the state of Illinois and the City of Chicago give ALL taxpayers half of the money they each need to build a home or business, then, if there is any money left over, they can consider helping out poor billionaire sports team owners.
Are we sure the Bears are actually planning on sinking $2 Billion into this project, and not just fronting $2 Billion, which they expect the city, county, and state to pay back to the team?
I’m thinking of the proposed One Central project that would have built new parking for Soldier Field, as well as a massive entertainment, retail, and transit complex, over the Metra Electric District tracks. The developer’s plans called for him to finance the project upfront, with the city and state reimbursing him, at which time the facility would become publicly owned.
Also waiting for Friends of the Parks’ reaction. They killed the Lucas Museum’s plans to build along the lakefront. Can’t see them not wanting to take on this one as well.
The Sox should leave Chicago, but of course, nobody would want them. Reinsdorf is a con man. He has single handedely wrecked two franchises in this city. If anyone should move it’s Reinsdorf, out of the city. Good riddance, Jerry.
There’s no available market close to the size of the south side and the southern suburbs. New market might provide a new stadium and fans, but not the TV dollars they get in Chicago.
What destroys more franchise value, moving the Sox to Nashville or moving the As to Vegas?
What really destroys franchise value? A ballclub whose team batting average is under .200.
Not to mention, I imagine the Cardinals would throw a colossal fit if their biggest rival suddenly had a city with over 2.5 million residents and the #3 DMA all to themselves. Probably the Dodgers too, since they’ve got 2 other clubs within 90 miles of their ballpark. Nothing makes owners more mad than seeing another owner get access to a fountain of money they can’t touch.
One would think, yet it wasn’t enough to get the Dodgers to vote against the Giants getting the A’s out of town.
Oh Reinsdorf is ‘moving’, don’t you worry about that. And maybe sooner than anyone thinks.
Let them move. I think soon after mlb will realize the market potential for an expansion or relocation team on the south side.
I would not count on that.
I cannot imagine the Cubs and the Cardinals would be in favor of bringing the White Sox back if they leave.
And if the owners were willing to consider putting another team in a big market that already has one – rather than moving into a smaller city that does not – the White Sox will likely be in competition with the Bay Area (assuming the A’s leave) and, maybe, putting a third team in the New York tri-state.
It’s all very hard to predict. We don’t know what local sports TV is going to look like in 10 years and we don’t know if baseball can maintain anything resembling its current popularity. It is still very popular, but it sure does not feel like it.
https://wgntv.com/sports/gallery-chicago-bears-proposed-domed-lakefront-stadium/
These renderings do look pretty cool. It’s a much better use of the space than the parking lots they have now. I’ve only ever been there to see the museum and to attend conventions, but as far as I can tell, it’s a poor use of that prime waterfront space because it’s mostly parking. The convention center serves its purpose, but it’s ugly.
I assume it will be called something like Soldier Field @ United Airlines Stadium or something.
That doesn’t mean the public should pay $2bn for it. Unless the Bears are willing to pay much higher rent than they’re probably proposing to pay. Why is that never an option?
But if they get rid of that parking, they will probably have to massively upgrade the transit, which they probably should anyway.
It’s also going to make it difficult for the Bears to play there while they’re building it. I suspect they’d have to play at U of I. That could be mutually beneficial depending on what the Bears are willing and able to pay.
It looks like they can squeeze in the new stadium right next to the old one, and build out all the new ballfields and whatever once the old stadium is torn down. Parking will be a mess, but they should be able to keep playing there.
How this is worth $4 billion, for the Bears or the public or passing space aliens who may be asked to chip in, baffles me.
“Jerry, all these big companies, they write-off everything.”