As reported by multiple media sources, the Chicago Bears signed a purchase agreement on for the Arlington International Racecourse property in a deal valued at $197.2 million, according to The Athletic. The property is a potential site for a new stadium.
The Bears have called Soldier Field home since 1971, but the lure of Arlington includes a larger stadium, an option for a closed stadium, and a sports betting lounge.
- The team would be forced to pay $84 million to the city if the lease is broken in 2026.
- After 2026, the financial penalty decreases.
- The sale of the Arlington site is expected to close between 2022 and 2023.
The Bears are in talks for renovations at Soldier Field with the Chicago Park District, owner of the historic stadium. Its 2001-2003 renovation cost a reported $733 million, including $432 million in taxpayer dollars.
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