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The team released a statement Tuesday updating the status of its
proposed purchase of the former Arlington Park horse racing
track.
"We envision a multi-purpose entertainment district anchored by
a new, best-in-class enclosed stadium, providing Chicagoland
with a new home worthy of hosting global events such as the
Super Bowl, College Football Playoffs, and Final Four," read the
statement, in part.
The team cautioned that "much remains to be decided," including
the exploration of alternative stadium sites as well as
renovations to Soldier Field.
The Bears signed a purchase agreement last September for the
326-acre property in Arlington Heights, located about 30 miles
northwest of Soldier Field.
"We remain under contract to purchase the property, but there
are conditions that must be met in order to be in a position to
close," the statement said. "If we do close on the property, it
does not guarantee we will develop it."
Construction of the proposed project would create 48,000 jobs
and make a $9.4 billion economic impact on the region, according
to the team.
The Bears have planned a community meeting on Thursday in
Arlington Heights to discuss their plans.
The team said it will honor the terms of its lease with Soldier
Field, which runs through 2033. The Bears have an option to
break the lease with the Chicago Park District as soon as 2026
at a penalty of $84 million.
Soldier Field is the NFL's oldest stadium and has been the
Bears' full-time home since 1971. The facility opened in 1924.
The conditions of the playing surface at Soldier Field were
sharply criticized by NFL Players Association president JC
Tretter during the preseason. The field had patches of missing
grass and big divots following a rock concert.
--Field Level Media
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