Bears Remain Focused on Lakefront Stadium
Bears President and CEO Kevin Warren says his focus for a new stadium project remains on the Museum Campus in Chicago, intending to break ground on construction next year. The McCaskey family has proposed spending $2.3 billion to build an enclosed stadium just south of Soldier Field. They are seeking an additional$1.5 billion in taxpayer financing and up to another $1.5 billion in public infrastructure. Governor J.B. Pritzker has stated that no public money will be made available for a new stadium.
Warren remains undeterred that a resolution can be reached.
“Me worn down?” he said at his London presser. “Never. These stadium projects … that’s why you do them once every 30, 40, 50 years. I’m energized by it because anything great in life… anything that lasts 50 years, takes a lot of energy and effort.
“I’m confident in the political leadership, the business leadership, [and] our fan base… that we’ll be able to figure this out and so it will become a crown jewel for the [NFL].”
A domed stadium would allow Chicago to host the Super Bowl, as well as other nationally relevant events, such as the NCAA tournament. The stadium could also be used to host concerts all year round, as well as political events. With that in mind, Warren is confident a deal exists that will benefit the city, the state, and Pritzker specifically.
“I’m focused on making sure that we structure the best financial deal for all parties involved,” Warren said. “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.”
Warren said he is keeping an eye on lowering interest rates and manufacturing costs. The executive is also investigating more organic financing options. Teams are now allowed to sell stakes to select private equity firms — up to 10% — a move that could inject cash into the Bears organization as it pursues the stadium project. The NFL approved that type of funding in August. The devil is in the details, however.
“I want to make sure any decisions we make don’t create any unintended consequences,” Warren said. “At this point, (selling stakes is) not something that we’re focused on and exploring in Chicago. My focus will be to make sure I truly understand how the private equity system would work.”
The Bears still own 326 acres in Arlington Heights. Most thought the team intended to move out of Chicago once that deal was finalized. Warren replaced Ted Phillips after that deal was finalized and has turned his focus toward remaining on Chicago’s lakefront. His construction timeline remains breaking ground in 2025 and opening for the ’28 season. The suburban site is now viewed as a fallback option.
“That Museum Campus is fantastic, and especially with the backdrop of Chicago and the architecture of that city,” he said. “The status is we’re continuing to make progress. We stay focused still to be able to be in the ground and start construction sometime in 2025. We’re having regular meetings with key business leaders and key politicians, just staying focused and on course.”
“This is a long journey,” he added. This takes time. I’ve been there before. We’re exactly where I thought we would be at this point.”
