Gov. Pritzker, D-Ill., previously said he’s ‘not sure’ that paying billions for the stadium is one of ‘the highest priorities for taxpayers’
Gov. J.B. Pritzker, D-Ill. and financial experts are expressing skepticism at the possibility of taxpayer money being used to pay for the Chicago Bears’ proposed new stadium.
There has been hesitation towards the NFL franchise’s plans to spend $4.6 billion on building a new enclosed stadium along with an improved lakefront area, half of which would be paid by the state’s taxpayers.
“The stadium itself would cost $3.2 billion to build, with another $1.4 billion in proposed infrastructure improvements,” the Chicago Tribune reported.
The Chicago Bears reportedly will pledge $2.3 billion, which includes funds from the NFL.
“But the Bears’ plan includes an additional $2.3 billion in public financing, along with refinancing outstanding debt for prior publicly financed stadium projects for the Bears and White Sox,” the Tribune reported.
Taxpayers would reportedly pay for the infrastructure improvements as well as around $1 billion in “new borrowing” to pay for the stadium.
However, considering the cost and how much debt the state already is in over similar projects, the governor, state lawmakers and finance experts believe that the money would be better spent on other priorities.
Local outlet “The Lincoln Courier” reported on Pritzker’s skepticism of the plan.
“It’s very important to me with all that the state needs to accomplish that we think about what the priorities are. There are a lot of priorities that the state has, and I’m not sure that is among the highest priorities for taxpayers,” the governor said during a recent press conference.
Who are these people??? They don’t sound like people I’ve heard speak for Ocean City?
Section 501(c)(6) of the Internal Revenue Code specifically defines professional football leagues as exempt organizations under that section. These organizations are exempt whether or not they administer a pension fund for football players. A business league is an association of persons having some common business interest, the purpose of which is to promote such common interest and not to engage in a regular business of a kind ordinarily carried on for profit. The NFL is profitable because of the positive revenue it generates from media rights, merchandising, sponsorships and stadium revenue it generates every year. Putting it into perspective, the NFL earned $12 billion in national revenue in 2022.
So the owners want the public to pay for their new stadium using tax payer money while the organization is tax exempt as a whole. With the ticket prices as they are, the cost of food and drink, the cost of parking. The average tax payer can no longer afford to go to the games.
I wish I could get tax payer money to build a new house.
if they didnt pay the Bears so much money maybe the Bears could pay for their own, dont get it patrons pay to get in pay for the food and drink and then have to pay for a place for team to play What the hell does the team pay for?
The economic benefits to the public are largely a myth.
You slaves are so pathetic. You care more about this football crap than your freedom. I predicted tax money being used for this crap long ago, because you all think football is so important that they use it to keep you enslaved. And so of course they’ll eventually get you to pay for it too. Keep watching your games while the globalists laugh at your stupidity.