The Bears still intend to close on their deal to purchase Arlington Park this quarter, but there are still a few major things that need to happen before they do. Bears outgoing president/CEO Ted Phillips shared an update on the team’s proceedings in the suburbs on Tuesday and said the team is still working on two big things before they close on the property: getting property tax certainty and locking down infrastructure funding.
“Those are the heavy lifts,” said Phillips.
Now that Kevin Warren is officially on board as the next Bears president/CEO, a Bears move to the suburbs feels like even more of a foregone conclusion. The Bears cast a wide net of more than 20 candidates when searching for Ted Phillips replacement and stadium construction experience wasn’t a prerequisite, but it’s clear the Bears saw Warren’s experience building U.S. Bank Stadium as COO of the Vikings as a big bonus.
“The fact that he has been in the Chicago area for the last almost four years, he has made a lot of connections,” said Phillips. “And you can feel his energy and passion just listening to him. I’m excited about him infusing that energy and passion into the club and into everything we do.”
The Bears reiterated that closing this deal is the team’s sole focus in terms of a new stadium project. They’re not considering renovations to Soldier Field.
“The analogy I offer to people is if you’re closing on a piece of land or a house, it’s a quarter-acre lot, the title process is fairly straightforward,” said Bears chairman George McCaskey. “Usually it takes a couple of months. This site is massive. And there’s a lot to go through, both in terms of physical due diligence, entitlement due diligence and financial due diligence. That takes a long time. We want to make sure we get it right. We want to be methodical about it. We don’t want any surprises along the way.”
“You need to plan before you start digging,” said Warren. “I think what makes U.S. Bank Stadium so special, we spent almost a year planning, and planning is critical. That’s what I appreciate about the McCaskeys, they support the planning process. I think that will be really critical from that standpoint and I know we’re focused on Arlington Park and that stadium development project, I looked forward to leaning in to the stadium development project. But I think the biggest thing we can do is to make sure we’re methodical and detailed and we take the time to plan it properly.”
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Which leads to the No. 1 question: when will the new home of the Chicago Bears be open and ready to host football games, concerts and more?
“I’ll be able to answer that question to you in about six months when I’m able to sit down and really review things,” said Warren. “It wouldn’t be proper for me to say it. I’ve got to really sit down and get the information downloaded. I’ll be able to answer that (in six months). I’d be guessing right now.”