Bears make offer to buy Arlington Park

[fenderpfunk]

Just showed this thread to sweaty teddy and after reading through it they have now decided to build a stadium in Dyer, Indiana to capitalize on our rabid and extremely geographically delicate northwest Indiana fanbase.

BEAR DOWN

 

[Bearly]

Why Bears Future Needs to Be the Great Northwest

Analysis: The Rams, Chargers, Giants, Jets and Washington Football Team don't play in the city they're named for and the Bears should join the crowd by making every attempt to build a new retractable dome stadium in the northwest surburb of Arlington Heights.

www.si.com

 

[Bearly]

How are the Bears gonna be way up on the financials on a 100% privately financed stadium when they don't have that type of money ?

The families entire fortune comes directly from owning the team so they dont have anywhere near the personal accumulated wealth of the leagues other owners .

Because they'd own it and will have more than enough increase revenue once built to support it. They will get help and cheap loans that only increase the team value when the sale ultimately happens. It's a sound financial strategy.

It's given that the team will be sold when Virginia is no longer around due to the tax situation and this will substantially increase the teams value, to the point they could rival the Cowboys once paid off. The value increase would be far greater than the outlay and the sales draw far more appealing with guaranteed stable income and since the 3rd party dependance/interference would be removed.

Here's their current situation: They make 1/2 the revenue of the top markets.
Despite playing in the third biggest market, the Bears continue to underperform financially. Their revenue of $477 million ranks 10th overall, behind even small market Green Bay, and was exactly the league average in 2019. Soldier Field’s capacity of 61,500 is the smallest of any current NFL stadium, and the team's sponsorship revenue also significantly trails the league's top teams.

With a new venue the Bear could double that revenue. They could build a $5B stadium complex and pay for it in a dozen years while maintaining their current profit structure, even if they continue paying the current lease (they'll make at least 3 times their current lease payment just on naming rights). We also know they'll get favors so it will cost them less than that.

I get that the original nut would be somewhat of a burden but it's not prohibitive when you have the sort of guaranteed income generated.

 

[Bearly]

If they do this and not put a roof on it, they're financial Neanderthals.

 

[Anytime23]

Until Fields works his way up to QB1, this team is horseshit, D is trending downhill, O will be crap with Dalton starting

At least we can watch them and picture what it would be like with fields

 

[CHIBEAR]

Because they'd own it and will have more than enough increase revenue once built to support it. They will get help and cheap loans that only increase the team value when the sale ultimately happens. It's a sound financial strategy.

It's given that the team will be sold when Virginia is no longer around due to the tax situation and this will substantially increase the teams value, to the point they could rival the Cowboys once paid off. The value increase would be far greater than the outlay and the sales draw far more appealing with guaranteed stable income and since the 3rd party dependance/interference would be removed.

Here's their current situation: They make 1/2 the revenue of the top markets.
Despite playing in the third biggest market, the Bears continue to underperform financially. Their revenue of $477 million ranks 10th overall, behind even small market Green Bay, and was exactly the league average in 2019. Soldier Field’s capacity of 61,500 is the smallest of any current NFL stadium, and the team's sponsorship revenue also significantly trails the league's top teams.

With a new venue the Bear could double that revenue. They could build a $5B stadium complex and pay for it in a dozen years while maintaining their current profit structure, even if they continue paying the current lease (they'll make at least 3 times their current lease payment just on naming rights). We also know they'll get favors so it will cost them less than that.

I get that the original nut would be somewhat of a burden but it's not prohibitive when you have the sort of guaranteed income generated.

So they are gonna put up the team AS COLLATERAL for a new stadium ? because thats essentially what you are saying .

I don't even know where to start

The Cowboys do not own AT&T stadium the city of Arlington Texas does

Arlington put up 350 million
NFL loaned Jones 150 million
Jerry Jones put up the rest and covered all cost over runs

He pays the city rent and they get a percentage of the naming rights

buts thats a deal from over 10 years ago so lets go to Vegas

They offered Oakland the same deal but Oakland could not get 750 million in taxpayers dollars

Las Vegas Stadium Authority, run by a nine-member Board of Directors, owns Allegiant Stadium
Nevada gave Marc Davis 750 million in taxpayer money (by raising the hotel tax)
Davis paid a 350 million relocation fee
Had to get a 750 million dollar loan from Bank of America
The NFL loaned Davis 200 million and he put 300+ million himself


So yeah the Bears can raise money from naming rights and they would have to raise ticket prices and the price of seat licenses. They would still have strong endorsements deals and maybe could add some more but they wouldn't be DOUBLING THERE REVENUE.

From Forbes

Bears

REVENUE $477M
OPERATING INCOME $136M
DEBT/VALUE 4%
PLAYER EXPENSES $222M
GATE RECEIPTS $75M
WINS-TO-PLAYER COST RATIO 97
REVENUE PER FAN $19


Cowboys

REVENUE $980M
OPERATING INCOME $425M
DEBT/VALUE 6%
PLAYER EXPENSES $231M
GATE RECEIPTS $96M
WINS-TO-PLAYER COST RATIO 94
REVENUE PER FAN $90

The difference in these teams are not that the Cowboys simply have a new stadium and the Bears dont . Its that the Jerry Jones is a just a flat out better businessman than Ted Phillips


I just dont see where the Bears get the private funding for this stadium in the current climate

 

[Icculus]

Yep. Woodfield and all the other businesses would love for the Bears to be there and vice versa.

On a side note I was watching the dead mall series on Youtube the other day. Stratford Square, Yorktown, Charlestown mall, Northpark Mall all can be found. Barren like walking in a ghost town with all the closed shops. All taken down by online shopping at Amazon. Woodfield seems unaffected, they still booming.

R.I.P. Randhurst

 

[WestCoastBearsFan]

 

[Bearly]

So they are gonna put up the team AS COLLATERAL for a new stadium ? because thats essentially what you are saying .

I don't even know where to start

The Cowboys do not own AT&T stadium the city of Arlington Texas does

Arlington put up 350 million
NFL loaned Jones 150 million
Jerry Jones put up the rest and covered all cost over runs

He pays the city rent and they get a percentage of the naming rights

buts thats a deal from over 10 years ago so lets go to Vegas

They offered Oakland the same deal but Oakland could not get 750 million in taxpayers dollars

Las Vegas Stadium Authority, run by a nine-member Board of Directors, owns Allegiant Stadium
Nevada gave Marc Davis 750 million in taxpayer money (by raising the hotel tax)
Davis paid a 350 million relocation fee
Had to get a 750 million dollar loan from Bank of America
The NFL loaned Davis 200 million and he put 300+ million himself


So yeah the Bears can raise money from naming rights and they would have to raise ticket prices and the price of seat licenses. They would still have strong endorsements deals and maybe could add some more but they wouldn't be DOUBLING THERE REVENUE.

From Forbes

Bears

REVENUE $477M
OPERATING INCOME $136M
DEBT/VALUE 4%
PLAYER EXPENSES $222M
GATE RECEIPTS $75M
WINS-TO-PLAYER COST RATIO 97
REVENUE PER FAN $19


Cowboys

REVENUE $980M
OPERATING INCOME $425M
DEBT/VALUE 6%
PLAYER EXPENSES $231M
GATE RECEIPTS $96M
WINS-TO-PLAYER COST RATIO 94
REVENUE PER FAN $90

The difference in these teams are not that the Cowboys simply have a new stadium and the Bears dont . Its that the Jerry Jones is a just a flat out better businessman than Ted Phillips


I just dont see where the Bears get the private funding for this stadium in the current climate

And you're suggesting that the Bear remain that way. Where do you think all that extra Cowboys income comes from? The revenue the Bear currently can't collect from extra (premium) seating, naming rights, concessions, parking, other events, etc, etc. and if you don't think that stadium has increased the Cowboys value by something around $2B, your fooling yourself. Full ownership would increase it that much more and may make the Bear the most valuable team in the league.

Jerry gets all the perks and rent is only 2m a year. He effectively owns it since he makes twice as much as the rent and naming rights payment to the city from just the remainder of the naming rights which are his. He controlled the architecture and effectively still controls improvements and everything else related to the stadium. The city is getting it payed back well ahead of schedule.

The point was that it's quite profitable and the Bear could easily do it on their own IF THEY HAD TO which is unlikely. Why wouldn't they use the team as collateral on a slam dunk like that. It instantly increases the team's value as much as the nut as soon as the ground is broken.

It's a far better deal than they have now... even if they pay for it.

 

[Novoitus]

They will still be The Chicago Bears! so who fucking cares
The only ones that would be butt hurt are the ones that live near by Soldier Field...poor babies, you can't walk to the games or it'll be a longer drive now! cry us a river

as a former South Loop resident please do not talk down to those superior to you

 

[hyatt151]

At least we can watch them and picture what it would be like with fields

YEP, hope at the end of the tunnel

 

[TheWinman]

Hes right on the time, at least from springfield. But a new team down south isn't going to change any real fans allegiance. The drive makes for a nice weekend trip a few times a year

It does not take 7 hours to get from Springfield to Arlington Heights. I've done it enough times in my life.

 

[Chicagosports89]

It does not take 7 hours to get from Springfield to Arlington Heights. I've done it enough times in my life.

Yeah i wasn't saying that. I would assume he was talking about round trip since people also have to drive back

 

[number51]

Yeah i wasn't saying that. I would assume he was talking about round trip since people also have to drive back

Not true, they could just relocate.

 

[Chicagosports89]

Not true, they could just relocate.

True. Drive up for the game, stay for life.

 

[shoez90]

Smallest stadium drumroll soldier field. Much like our run first run often logic when the QB is practically in bubble wrap the times they are a changing. GB those bastards have looooong learned that lesson and rub our fukin face in it every year. Call the stadium whatever you want it will be hyphenated anyway but that is the least of our problems. Legacy is only cool if you can brag about it after 1963 and of course 1985.

 

[shoez90]

because Soldier Field is owned by the city and ran by the Chicago Park District and its about maximizing that space. Now they could say that just tearing it doing and starting over may be feasible but the the reality is the city actually needs a multiuse stadium adjacent to McCormick place and the Casino to really maximize those tourism dollars .

Imagine

Huge Multi-use stadium
Casino
Sportsbook
E-Sports Facility
McCormick place for displays and exhibits

all within walking or people move distances . Its gonna come to that its all about how do you bring everyone else to that realization

When your car is thirty years old, on its last leg do you get a new one or put in a new engine and basically rebuild it?

 

[JoJoBoxer]

How are the Bears gonna be way up on the financials on a 100% privately financed stadium when they don't have that type of money ?

The families entire fortune comes directly from owning the team so they dont have anywhere near the personal accumulated wealth of the leagues other owners .

But Bezos does. Just saying.

 

[Leomaz]

https://twitter.com/i/web/status/1407059454701576198

 

[run and shoot]

Build out Meigs Field and put the stadium there. Boom done.