Chicago is pouring $424 million into a $195bn stadium project that will be the first of its kind in the US
The Chicago Bears were forced to leave the Windy City for public funding, but the Fire was very lucky.
NFL fans may soon spread across the board to Indiana as the franchise packs its bags and leaves Soldier Field for the dome.
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The ball is still standing, however, with the MLS Fire picking a place in the city to put down roots.
Brian J. Rogal of the Chicago Tribune reports that the Chicago City Council’s Finance Committee voted to spend $424 million in property tax revenue on infrastructure.
Pending full council approval, the money will help pay for new roads and pedestrian crossings.
The $750 million stadium, which was built at The 78, was privately financed.
According to the report, the Midwest-related developer will be reimbursed “for the construction of new roads that connect the empty rail yard to nearby areas, as well as a river walk and other pedestrian routes.”
A “city-owned garage, with 1,200 spaces and a public arena above it” is reportedly the most expensive, accounting for nearly half of the cost.
The fire broke out in March and is hoping to enter the 2028 season.
The infrastructure work is not expected to be completed for another three years after the stadium opens.
Chicago Fire and McDonald’s announce stadium partnership
This 22,000 capacity stadium will be called McDonald’s Park.
It’s the first time the fast-food giant, which boasts a market capitalization of $191 billion per Yahoo Finance, has become an intellectual property partner for a US sports business.
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A permanent flagship location will be established within the concourse.
“As we take the next step in our journey to build a world-class club, our commitment to Chicago is at the center of everything we do,” Fire owner Joe Mansueto said in a statement. “That’s why McDonald’s is the perfect partner – a global brand with deep Chicago roots and shared values in supporting our community.
“McDonald’s Park will be the perfect stadium for Chicago.”
The Fire currently play at Soldier Field, which is in need of renovations.
A whopping $630 million has been proposed to transform the old stadium into a world-class entertainment venue.
“It’s time for a new audiovisual. And, when the Bears leave, we have to fix the back of the house spaces that they use for their offices, their locker rooms,” Chicago Park District manager Carlos Ramirez-Rosa told NBC5 Chicago.
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“$500 million of the $630 million is for ingress and egress, improving the way people get in and out of Soldier Field, making it easier for people to enjoy concerts there.”
“Soldier Field is a public asset, so we want to make sure we take care of that asset because it brings in a lot of money,” Ramirez-Rosa added. “It creates good job opportunities, it is the engine of the country’s tourism economy.
“Ultimately, we want to keep the Bears in Chicago, but we have to be ready for any eventuality.”
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