Whether the Chicago Bears leave or not,
taxpayers are on the hook for growing
Soldier Field debt payments
Chicago Tribune,
by
Robert McCoppin
Original Article
Posted By: AltaD,
3/14/2023 11:07:29 AM
As the Chicago Bears make plans to build a new stadium, taxpayers still are on the hook for the old one. A big bill is coming soon —and the primary method of paying for it may not be enough. Whether or not the team leaves for its newly acquired site in Arlington Heights, the public is obligated to pay for the 2003 renovation of Soldier Field that was meant to keep the team there. Due to refinancing and years of primarily paying interest instead of principal, the debt owed for Soldier Field has ballooned from the original $399 million to $631 million
Reply 1 - Posted by:
WhamDBambam 3/14/2023 11:16:25 AM (No. 1424750)
Sounds like the folks who make interest only payments on their mortgages.
15 people like this.
Reply 2 - Posted by:
itsonlyme 3/14/2023 11:19:45 AM (No. 1424756)
BTW, March 14, 2023.....
"The Bears signed linebackers Tremaine Edmunds (four years, $71 million) and T.J. Edwards (three years, $19.5 million), as well as offensive guard Nate Davis (three years, $30 million)."
Don't forget to qualify for a loan before taking the family to the game and enjoy the $10+ popcorn while you wait 15 minutes to go to the bathroom. Da Bears! PS Let's not discuss parking fee and the walk.
9 people like this.
Reply 3 - Posted by:
FunOne 3/14/2023 11:22:44 AM (No. 1424760)
Chicago is a 100% democrat city. Democrat management for generations. Grin and BEAR it.
18 people like this.
Reply 4 - Posted by:
privateer 3/14/2023 11:26:46 AM (No. 1424768)
Paying only the interest on a loan is like having your chains neatly polished once a year.
13 people like this.
Reply 5 - Posted by:
Daisymay 3/14/2023 11:47:50 AM (No. 1424791)
Love the Bears! Hate the Stadium. Coldest Place on the Earth to sit and watch a Game!!!
10 people like this.
Reply 6 - Posted by:
john56 3/14/2023 11:53:16 AM (No. 1424795)
The Packers and the people of Green Bay have renovated Lambeau Field, paid it off, and done additional expansions-all paid in full. And we not only lead the all time series vs Da Bears, we passed them in the all time NFL victory category this year as well.
11 people like this.
Reply 7 - Posted by:
voxpopuli 3/14/2023 12:16:05 PM (No. 1424815)
no problem..
but a top on it and turn it into a homeless shelter
7 people like this.
Reply 8 - Posted by:
Bur Oak 3/14/2023 12:20:30 PM (No. 1424822)
Maybe taxpayers shouldn't be building stadiums and arenas for rich team owners and rich players.
19 people like this.
Reply 9 - Posted by:
PostAway 3/14/2023 12:44:33 PM (No. 1424849)
Big American to sports leagues are like politics: a racket. Why should the taxpayers of Chicago or Cook County or even Chicagoland be on the hook for a rich woman’s hobby? Primary owner Patricia McClaskey is reportedly worth $2B but her business is subsidized in very large part by taxpayers through the Chicago City Council including residents who couldn’t care less about football. Soldier Field is managed by ASM, an LA based international venue management company, partly owned by an international Dutch semiconductor firm. Players come from everywhere from the U. of Washington to ASU to Houston and NC. Only two players on the team even went to college in Illinois, none in Chicago but one from Northwestern. A young kid can live, breathe and sleep football and idolize any one of these players but sure-as-shooting never ever meet one in person or even sit in a stadium and watch them play. They can, however, read about their various drug busts, weapons violations, assaults, rape accusations, adulterers, etc. online along with their stats. It is a rotten business with a loyal following of mostly good people. I long for the days when the best boys from Chicago or Wheaton or DeKalb played the best boys from Rockford or Galena or Peoria for a beer and anyone could come and watch for a song AND bring their own food.
7 people like this.
Reply 10 - Posted by:
wilarrbie 3/14/2023 12:59:37 PM (No. 1424864)
Did taxpayers agree to all that refinancing and interest only payments? Seems like they got a bit of a bait and switch after the ink was dry. I'm sure it was all legal tho.
6 people like this.
Reply 11 - Posted by:
smokincol 3/14/2023 1:15:20 PM (No. 1424888)
make sure it's only the "taxpayers" from Chicago cuz I sure as hell don't want my tax money to go there, my tax money already goes to people, places and things I care not a damn about
6 people like this.
Reply 12 - Posted by:
MindMadeUp 3/14/2023 1:17:58 PM (No. 1424893)
Sounds like the stadium renovation was a typical Democrat tactic: Do something showy and expensive that ingratiates them with voters (in this case Bears fans) and push the cost down the road to somebody else.
8 people like this.
Reply 13 - Posted by:
hershey 3/14/2023 1:31:25 PM (No. 1424913)
Hmmm, paying interest instead of principal...sounds just like our National Debt...a city run by dumbocraps, a nation run by dumbocraps...
7 people like this.
Reply 14 - Posted by:
MickTurn 3/14/2023 2:38:50 PM (No. 1424992)
The Bears could likely find a new home in about 40 nanoseconds...
3 people like this.
Reply 15 - Posted by:
john56 3/14/2023 5:51:38 PM (No. 1425133)
Heck, the crooks in Chicago aren't even paying the interest in the debt. Otherwise, how do you turn a $399 really large debt into $631 really large over 20 years later. I'm sure that the "re-financing" of the debt meant incurring new debt to cover pet projects or to cover shortfalls in everyday spending and patronage jobs.
4 people like this.
Reply 16 - Posted by:
Dodge Boy 3/14/2023 6:11:05 PM (No. 1425149)
As a former north sider from Libertyville, enjoy the suck Chicagoans. You have been had bigly by your deep state.
5 people like this.
Reply 17 - Posted by:
learner 3/14/2023 6:18:17 PM (No. 1425158)
Just call it the 0bama pResidential library and let his donors pay for it.
2 people like this.
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