The Chicago Bears are still focused on the city’s lakefront for a nearly $5 billion stadium development project, team president Kevin Warren said on Wednesday.
Warren spoke at a news conference at the team’s hotel outside London before Chicago’s game against the Jacksonville Jaguars at Tottenham Hotspur Stadium on Sunday.
A proposal presented earlier this year suggests building an enclosed stadium next to their current home at Soldier Field as part of a big project that would change the lakefront area. The Bears are seeking public funding to help support this plan.
Although the Bears also own land in Arlington Heights, Warren insisted that their preference is to stay in Chicago.
“That Museum Campus is fantastic, and especially with the backdrop of Chicago and the architecture of that city,” he said. “That remains our focus at this point in time.”
The plan includes $3.2 billion for the new stadium and an additional $1.5 billion for infrastructure, which could involve a publicly owned hotel.
“The status is we’re continuing to make progress. We stay focused still to be able to be in the ground, start construction sometime in 2025,” Warren said. “We’re having regular meetings with key business leaders, key politicians, just staying focused and on course.
“This is a long journey. This takes time,” he added. “I’ve been there before. We’re exactly where I thought we would be at this point in time.”
When asked if the Chicago site is “imminent or inevitable,” Warren replied: “I don’t know (about) saying imminent or inevitable. I think it’s the best site as of now.”
The proposal outlines that the Bears would contribute just over $2 billion, with $300 million coming from an NFL loan and $900 million in bonds from the Illinois Sports Facilities Authority.
Warren mentioned that the next step is to “get approval from a political standpoint.”
Chicago mayor Brandon Johnson supported the project when it was announced in April. However, Illinois Governor J.B. Pritzker and state legislators are cautious about committing public funds for a privately owned team to build a new stadium.
Warren also pointed out that the plans for the new stadium will be flexible enough to work for more than one location.
“You want to build a stadium where it really becomes agnostic from a location standpoint, because it takes so much time from a planning standpoint,” he said.
One way to raise money could be to look for private equity investment, which the league recently made easier with new rules about team ownership. However, Warren mentioned that the team is not pursuing this option.
“At this point in time it’s not something that we’re focused on and exploring in Chicago,” he said.
In his previous role with the Minnesota Vikings, Warren was in charge of plans and development for U.S. Bank Stadium.
“Anything that’s great in life, anything that lasts 50 years, takes a lot of energy and effort,” he said Wednesday.
“I’m confident in the political leadership, the business leadership, our fan base, that we’ll be able to figure this out,” he added. “It will become a crown jewel for the National Football League.”
