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Yogi da Bear
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dplank wrote: Mon May 24, 2021 7:28 pm
Grizzled wrote: Mon May 24, 2021 5:41 pm Back when I was living in Seattle, Safeco was constructed. It cost approximately $517 million to build. The team kicked apprximately $145 million. The rest was publicly financed publicly through the issuing of bonds, which have been retired. There is a tax on each ticket sold to any event at the stadium and a tax on parking at the garage which was used until the bonds were paid off and is now used for maintenance. There was a tax instituted on hotel/motel rooms and rental cars also to retire the bonds. The stadium is publicly owned and the Mariners pay annually on a lease. With the amount of land at AH, much could be sold/leased to businesses for stores, restaurants, bars etc. which can operate year-round.
I happened to be in town the day they imploded the old Kingdome, that was pretty wild.
I saw a Bear game in Seattle when the Kingdom came down and they were building a new stadium. I had seats schedule for the Kingdom along the fifty yard line. They switched the game to Huskie Stadium (Washington's college stadium) and stuck us in the last few rows behind the pillars. I looked around the stadium and saw nobody in the first thirty rows all along the stadium. They must have messed up transferring the tickets. So we all went down and sat about 25 rows up on the fifty yard line. :headbang:

Only Bear game I saw in Seattle where the Bears won. Experienced a lot of losses up there sad to say. I'll be up there again this year. We'll change that trend!
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The new Huskies stadium is beautifully situated - Saw my Illini get destroyed there
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RichH55 wrote: Tue May 25, 2021 2:18 pm The new Huskies stadium is beautifully situated - Saw my Illini get destroyed there
Right on Puget Sound, truly gorgeous. There’s a couple of “booze cruise” boats to ferry people there from downtown Seattle.
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Yogi da Bear
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Grizzled wrote: Wed May 26, 2021 10:41 am
RichH55 wrote: Tue May 25, 2021 2:18 pm The new Huskies stadium is beautifully situated - Saw my Illini get destroyed there
Right on Puget Sound, truly gorgeous. There’s a couple of “booze cruise” boats to ferry people there from downtown Seattle.
For a second there, I thought that they built an entirely new stadium off campus. Husky stadium is on Lake Washington, not Puget Sound. lol Still gorgeous though. Seattle is truly a beautiful city. Shame what's happening there. Portland too. And I don't mean to be political at all. It's just sad that you now have to be so ambivalent about going into either of those truly beautiful cities. :(
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Grizzled
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Yogi da Bear wrote: Wed May 26, 2021 11:53 am
Grizzled wrote: Wed May 26, 2021 10:41 am

Right on Puget Sound, truly gorgeous. There’s a couple of “booze cruise” boats to ferry people there from downtown Seattle.
Husky stadium is on Lake Washington, not Puget Sound. lol Still gorgeous though.
You are correct, mea culpa. One gets to the stadium through the locks.
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IotaNet
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I haven't lived in Chicago for a while although I have family there and stay as connected as I can under the circumstances. Is it me or is this "Bears to Arlington Heights" story something that writers are regurgitating just to generate clicks/eyeballs?

https://www.sportsmockery.com/chicago-b ... rs-moving/

"Smoke gets thicker?" Really? As if Sports Mockery is anything besides smoke anyway. :flick:

I'm old enough to remember George Halas Sr. dancing this dance back in 1975 and it never went anywhere. I get why it made sense then and in some ways, even more now but I'm not reading anything substantive that points to real talks or interest. There are a LOT of things that need to happen before this could even be remotely considered and I don't see those things happening anytime soon.

The current Mayor of AH is making a lot of veiled remarks but I don't trust that to be anything besides politician wishful thinking.

Ultimately, it reads like a bunch of "post-draft/pre-training camp" space filler to get folks all riled up.
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The Marshall Plan
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I think it would be a transformative move if it were to happen. It SHOULD happen.

But the likelihood is extremely small.
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Thye bidding process ended, there was only 1 and the Bears didn't make it.
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Grizzled wrote: Thu Jun 17, 2021 7:23 am Thye bidding process ended, there was only 1 and the Bears didn't make it.
The Bears have a lease at Soldier Field until 2033, so to buy their way out of that AND participate in the cost of a new stadium seems unlikely. If the Bears are smart, they leverage the threat to upgrade SF to a more state of the art stadium. Biggest problem is the size and I'm not sure that can be fixed as long as the colonnades remain in place, especially on the east side ... not much room to go on the west side.

Here's a pretty comprehensive article on the latest:
https://www.dailyherald.com/news/202106 ... ngton-park
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My guess of what the actual parcel of property they'd buy would be:

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wulfy wrote: Thu Jun 17, 2021 8:54 am
Grizzled wrote: Thu Jun 17, 2021 7:23 am Thye bidding process ended, there was only 1 and the Bears didn't make it.
Here's a pretty comprehensive article on the latest:
https://www.dailyherald.com/news/202106 ... ngton-park
The article says "numerous" parties submitted bids, but only 1 (at publication time) went public about it (a group looking to mostly maintain it, with some additions).

It appears the Bears were another bidder.

The first party said that they expect to be the highest bidder, or close to it.
No word on that, and wouldn't really expect it anytime soon.

The Bears could conceivably be chosen, then decide the land + the development + SF buyout is too much, then lease or resell the property.
I'm not sure how they would come up with so much $$$ up front, if they're as cash poor as they are always portrayed.
Last edited by Moriarty on Thu Jun 17, 2021 2:24 pm, edited 1 time in total.
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Wow, I honestly never thought anything would materialize out of this. Thanks for posting this!
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Actually pretty shocked about this - this is about a bold of a move that this team has ever made on the business side.
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The lease runs through 2033, but it would take about 5 years to design and build the stadium. So really the Bears would only have to buy out 5-6 years of the current lease. Also, from reading the interwebs the lease is only $6.3M per year. So the Bears could conceivably keep paying the lease and still be in the new stadium. I am sure the city would agree to a buyout when the other stadium is done....but an extra $36M is not much when compared of the $2B cost of the new stadium.
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Z Bear wrote: Thu Jun 17, 2021 3:12 pm The lease runs through 2033, but it would take about 5 years to design and build the stadium. So really the Bears would only have to buy out 5-6 years of the current lease. Also, from reading the interwebs the lease is only $6.3M per year. So the Bears could conceivably keep paying the lease and still be in the new stadium. I am sure the city would agree to a buyout when the other stadium is done....but an extra $36M is not much when compared of the $2B cost of the new stadium.
If it's not merely a negotiating tactic. That said, if the Bears moved, there'd be far more money in it for them in the long run.
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Is it possible for this offseason to get any better?

I was in an enraged manic state after they signed Andy Dalton. Since then, the Packers have entered a death spiral, we drafted Fields and Jenkins, and now this.

It's going to take forever for this to come to fruition, if it even is possible, but it will look gorgeous when its done.
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I hate the idea, but I'm an out of towner who comes in for 1 game a year so my opinion matters little. I love staying downtown, hitting Geno's East and hanging out at Mother Hubbards for college gameday, chilling at the pier for a bit then riding the ferry over to the game. I suppose I can still do most of those things.
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This will take a while. Any offer will have big financing contingencies and very likely public financing which could be a no go right now in IL.
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Xee wrote: Thu Jun 17, 2021 2:23 pm Wow, I honestly never thought anything would materialize out of this. Thanks for posting this!
Count me Gobsmacked as well. I really didn't believe all of the smoke that was swirling but I also believe that if they are serious, the "MacCaskey's not-so-deep pockets" won't be an inhibitor.

There is was a very good article in the Daily Herald last month that laid out how a potential stadium deal could get done. Their take was that in today's world, "a $5 billion stadium can't be financed by eight football games a year and the random big-name concert." They go on to say that "mixed-use" is the key and they pointed to some of the recent stadiums that have been built.

If you make the area into a destination beyond football to include movie theaters, arcades, restaurants maybe some residential and/or a hotel complex, or even <gasp> a CASINO, there becomes some real potential.

This will be fascinating to watch but as Tony Kornheiser (quoting Don Ohlmeyer), likes to say, "The answer to all of your questions is money."
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If this ends with the Bears no longer having the smallest stadium in the NFL (seating capacity), color me thrilled.
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UOK wrote: Thu Jun 17, 2021 3:40 pm
Z Bear wrote: Thu Jun 17, 2021 3:12 pm The lease runs through 2033, but it would take about 5 years to design and build the stadium. So really the Bears would only have to buy out 5-6 years of the current lease. Also, from reading the interwebs the lease is only $6.3M per year. So the Bears could conceivably keep paying the lease and still be in the new stadium. I am sure the city would agree to a buyout when the other stadium is done....but an extra $36M is not much when compared of the $2B cost of the new stadium.
If it's not merely a negotiating tactic. That said, if the Bears moved, there'd be far more money in it for them in the long run.
Looks like Lightfoot thinks the same thing and was pretty harsh in calling them out on it:

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Not sure what the leverage ploy for the Bears is. Maybe there's a few more seats they can squeeze in. Is more suites a possibility? More space for parking? What's actually able to drive significant more revenue from Soldier Field (assuming a complete tear down isn't in the table).
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The Cooler King wrote: Thu Jun 17, 2021 7:10 pm Not sure what the leverage ploy for the Bears is. Maybe there's a few more seats they can squeeze in. Is more suites a possibility? More space for parking? What's actually able to drive significant more revenue from Soldier Field (assuming a complete tear down isn't in the table).
I think they are trying to increase seating. It's unbelievably pathetic to be the Founding Franchise of the NFL and have the smallest stadium in the League.
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Xee wrote: Thu Jun 17, 2021 6:43 pm
UOK wrote: Thu Jun 17, 2021 3:40 pm

If it's not merely a negotiating tactic. That said, if the Bears moved, there'd be far more money in it for them in the long run.
Looks like Lightfoot thinks the same thing and was pretty harsh in calling them out on it:

This statement is truly embarrassing. She misspelled Soldier once, and insults the Bears as not being relevant past October but the Bears have made the playoffs two of the past three years, so were relevant in January.

If this was just a negotiating tactic, hopefully such an antagonistic and unprofessional statement pushes them out and into a state of the art stadium.

With respect to the lease going until 2033 I don’t think they’re necessarily looking to build a stadium as soon as possible. Given the reports of some in the McCaskey family wanting to sell the team, buying the property (assuming they win the bid) could also be a part of that process as it would make the team more valuable down the road.
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The 2033 lease would give the team plenty of time to not only build a stadium, but to do the more laborious tedium of permits, buying further surrounding property, raising money/grift to lubricate the process, pay a few bribes, build a pile of hotels, negotiate Super Bowl/final four/wrestlemania shit, etc. By the time 2027 or so rolls around they may be able to borrow against the value enough to buy their way out of Chicago politics.
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G08 wrote: Thu Jun 17, 2021 7:47 pm
The Cooler King wrote: Thu Jun 17, 2021 7:10 pm Not sure what the leverage ploy for the Bears is. Maybe there's a few more seats they can squeeze in. Is more suites a possibility? More space for parking? What's actually able to drive significant more revenue from Soldier Field (assuming a complete tear down isn't in the table).
I think they are trying to increase seating. It's unbelievably pathetic to be the Founding Franchise of the NFL and have the smallest stadium in the League.
I know Rahm had some plan to add seats, but it sounds like that was always a bit pie in the sky. Without tearing town the columnades and totally redoing the west side of thr stadium, it doesn't look like they really could.
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I keep reading how the Bear ownership is not able to leverage money. I am certain over the years they have a very well diversified portfolio. This is NOT some penniless family..think how much they made on all things owned..endorsed or otherwise secured.

I didn't check their REAL net worth..but as a group I am guessing this would not be a problem.
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docc wrote: Thu Jun 17, 2021 8:27 pm I keep reading how the Bear ownership is not able to leverage money. I am certain over the years they have a very well diversified portfolio. This is NOT some penniless family..think how much they made on all things owned..endorsed or otherwise secured.

I didn't check their REAL net worth..but as a group I am guessing this would not be a problem.
I'd imagine they'd need significant help. Perhaps a backer who's understanding is that an immenent sale could follow and realize the investment to pay that debt...
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I just want something done for competitive purposes, it's a passionate fanbase that loves defense, let them have an impact on the game.
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