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The team’s lease at Guaranteed Rate Field,
where they have played since 1991, expires after the 2029
season. The White Sox struck a deal with the state after there
were rumblings they would relocate to Florida. Illinois
taxpayers still owe $50 million on the bonds used to construct
the current stadium, and those funds still need to be retired.
The team may be looking to stay on the South Side, at a parcel
of land in the South Loop known as “The 78.” There are also
rumors of a possible move to Tennessee after White Sox Chairman
Jerry Reinsdorf met with Nashville Mayor Freddie O’Connell
during the baseball winter meetings. White Sox
developer Related Midwest has not asked for state money, but
Crain's Chicago Business reports they want the Illinois Sports
Facilities Authority to rearrange bonds that are backed by a
hotel tax, a similar way that Soldier Field was renovated for
the Bears.
As for using taxpayer funds for a new stadium, Gov. J.B.
Pritzker said the state needs to be careful with public dollars.
“Taxpayer dollars are precious and so the question really is
what benefit financially are they bringing fiscally to the
state, the city and the county,” said Pritzker.
House Minority Leader Tony McCombie, R-Savanna, said it is
unlikely the state of Illinois could afford to pitch in.
“It certainly would drive some economic development for sure,
build it and they will come, but I don’t know if today and with
this budget that we can be helpful,” said McCombie.
Related Midwest released a statement when revealing the
renderings of a new stadium.
“The development would be a catalyst for the creation of
Chicago’s next great neighborhood, create tens of thousands of
permanent and construction jobs and bring a state-of-the-art
White Sox ballpark to the South Loop riverfront,” said the
statement.
The Sox and Related Midwest are hoping to engage Springfield for
a massive financing package this spring, the Chicago Sun-times
reports. |
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