We Finally Know Real Reason The Chicago Bears Stadium Has Stalled

The Chicago Bears know what they want for a new stadium. Team president Kevin Warren has made that clear for months. It centers on the downtown museum campus south of Soldier Field along the lakefront. They’ve put together a presentation and everything. However, the state government has offered little wiggle room for negotiations. They’ve made it clear that what the Bears want, which likely includes $1 billion in public funding, is a non-starter. Governor J.B. Pritzker has insisted his government has more pressing issues to worry about.

Part of that might be true, but it was never likely the whole story. Danny Ecker of Chicago Business finally revealed a new wrinkle that explains a lot. According to what he’s gathered, one reason the state is dragging its feet is the uncertainty surrounding Bears ownership. It stems from the McCaskeys giving so many shares to family members rather than just a concentrated group. That has led to reservations about whether they can finance the project as planned. Virginia McCaskey’s recent death probably won’t help matters.

The team’s proposal unveiled in April for a new $3.2 billion stadium just south of Soldier Field calls for $2 billion of that to come from the Bears. While the team hasn’t specified the sources of that funding — large portions could come from things like personal seat license and naming rights revenue, for example — splintered ownership stakes could factor into their ability to finance the project. Nuances of ownership would matter to state lawmakers if they were to sign off on a large public subsidy to help, as taxpayers will need to know with whom they are doing business.

The Chicago Bears have lots of convincing to do.

George Halas himself had nightmares dealing with Illinois politicians trying to get his own stadium built. There were never any questions about his ownership. The McCaskeys have dealt with nothing but questions for 40 years. Now, their primary shareholder is gone, and nobody knows the succession plan. There is no way the state will throw that much money into a stadium project without a clear understanding of how stable the situation at Halas Hall is. This creates issues for Warren, who has repeatedly stated that he hopes to start laying the foundation in 2025. Unless some progress is made in the next few months, the Chicago Bears will either have to push back the timeline or pivot to Arlington Heights. Neither seems appetizing to them at this stage.