White Sox/Bears Stadium Showdown

[Uncle Rico]

Every time I post on Scoop, I feel the love, admiration, and respect that comes back at me.

Even when walking down the street near my house, people shout out “We love you, sir”. Fortunately, God created me as a humble man who never lets this adoring admiration go to my head.

As an evangelical Christian, I can’t be humble

[Pakuni]

In a story full of bizarre statements, this might be my favorite:

"Heading toward the Bears sideline, Warren feels the love from fans as they yell out to him: "Let's go Mr. Warren," "Bear Down," and "Mr. Warren, we love you."

Do they really think Bears' fans fall for this stuff?

Bears fans, and football fans in general, are known for their courteousness inside the stadium.

[dgies9156]

Do they really think Bears' fans fall for this stuff?

The short answer is: They're Bears fans. They'd fall for about anything!

Their team is an operating subsidiary of the Green Bay Packers Football Club, Inc.

[DegenerateDish]

In a story full of bizarre statements, this might be my favorite:

"Heading toward the Bears sideline, Warren feels the love from fans as they yell out to him: "Let's go Mr. Warren," "Bear Down," and "Mr. Warren, we love you."

Do they really think Bears' fans fall for this stuff?

No one loves Kevin Warren like Kevin Warren.

Also, there definitely is a group of fans that exists that would do something dumb like that.

[dgies9156]

Read a report about Governor JB's reaction to a public/private partnership to build the new home of the Bears, Pritzker Stadium.

I'm betting the move  to build on public land in Chicago using public funds probably has more to do with an insurrection inside the McCaskey/Halas family than anything else. In the Heights, my understanding was the Bears sought to build the stadium themselves and have public funds only for highway and utility improvements.

Now, I'm betting the shift to Chicago suggests the family ain't ponying up for the stadium. They like living on their dividends and the idea of debt service before family dividends makes them cringe. My gosh, some of them might have to go out and, oh I don't know, earn an honest living free from the joy of large NFL-related dividends.

BEAR DOWN my backside!!!!

[🏀]

The majority of the McCaskeys work and live very normal lives.

[Dr. Blackheart]

Make Arlington an illegal alien camp?  😂

Warren tasting Illinois pols at play from both ends.

https://northcooknews.com/stories/656658737-state-rep-walker-i-d-welcome-a-plan-to-build-illegal-alien-camp-at-arlington-park

[WhiteTrash]

Make Arlington an illegal alien camp?  😂

Warren tasting Illinois pols at play from both ends.

https://northcooknews.com/stories/656658737-state-rep-walker-i-d-welcome-a-plan-to-build-illegal-alien-camp-at-arlington-park

I have no idea why people are leaving Illinois. No clue.

[Warriors4ever]

Asylum seekers aren’t illegal aliens.
That being said, that won’t happen on that piece of land in Arlington Heights.

[Plaque Lives Matter!]

Make Arlington an illegal alien camp?  😂

Warren tasting Illinois pols at play from both ends.

https://northcooknews.com/stories/656658737-state-rep-walker-i-d-welcome-a-plan-to-build-illegal-alien-camp-at-arlington-park

https://mediabiasfactcheck.com/north-cook-news/

[Pakuni]

Asylum seekers aren’t illegal aliens.
That being said, that won’t happen on that piece of land in Arlington Heights.

Yep and yep.
But the outrage machine needs outrage.

[Jockey]

The Bears will be in AH. The negotiations have been going fine. The lakefront is just part of the bargaining process.

[WellsstreetWanderer]

Yep and yep.
But the outrage machine needs outrage.

  How dare they get upset over those poor wretches   Chinese infiltrators, MS13, Hamas, ISIS, Venezuelan burglary rings, Chilean theft bands, Iranian sleeper cells . They are just here for the free stuff

[Uncle Rico]

  How dare they get upset over those poor wretches   Chinese infiltrators, MS13, Hamas, ISIS, Venezuelan burglary rings, Chilean theft bands, Iranian sleeper cells . They are just here for the free stuff

That’s the good stuff

[Pakuni]

  How dare they get upset over those poor wretches   Chinese infiltrators, MS13, Hamas, ISIS, Venezuelan burglary rings, Chilean theft bands, Iranian sleeper cells . They are just here for the free stuff

Rustlers, cut throats, murderers, bounty hunters, desperados, mugs, pugs, thugs, nitwits, halfwits, dimwits, vipers, snipers, con men, Indian agents, Mexican bandits, muggers, buggerers, bushwhackers, hornswogglers, horse thieves, bull dykes, train robbers, bank robbers, ass-kickers, sh*t-kickers and Methodists.

[Hards Alumni]

Rustlers, cut throats, murderers, bounty hunters, desperados, mugs, pugs, thugs, nitwits, halfwits, dimwits, vipers, snipers, con men, Indian agents, Mexican bandits, muggers, buggerers, bushwhackers, hornswogglers, horse thieves, bull dykes, train robbers, bank robbers, ass-kickers, sh*t-kickers and Methodists.

[MU Fan in Connecticut]

Rustlers, cut throats, murderers, bounty hunters, desperados, mugs, pugs, thugs, nitwits, halfwits, dimwits, vipers, snipers, con men, Indian agents, Mexican bandits, muggers, buggerers, bushwhackers, hornswogglers, horse thieves, bull dykes, train robbers, bank robbers, ass-kickers, sh*t-kickers and Methodists.

Always love a Blazing Saddles reference.

[88Warrior]

I still go back to the article that the Bears website posted in December on a day in the life of Kevin Warren. Everything that has happened since then has revealed itself going back to that article.

I'm all for leverage and having options, and on the surface, Warren is either an awesome poker player, or the McCaskey's made a gigantic mistake in hiring him to run the stadium show here.

Time is not the Bears friend, for many reasons. The IFSA TIF money expiring, competing against the White Sox both for that money and in the state legislature, overall construction costs being pushed up every day that there isn't a shovel in the ground somewhere.

Virginia is 101, the second she passes away, the future of the franchise is up in the air. The future value of the franchise is worth wayyyyyy more in Arlington Heights. I think ultimately they wind up in AH, but man, they are doing everything possible to make that reality as difficult as they can.

That "article" isn't an article as it was a spin piece by the Bears. My guess is it was material to allure ministers and politicians to support the Bears which creates leverage against AH. Note that Brandon appeared in video as well. Seemed like a rough day of work to me as he had to go to office to workout and then go home to wash Mercedes before driving family to game. Tough day with close in private room at Joe's Stone Crab.

The Bears should have been negotiating with AH before they closed on property. My personal opinion is they will build a new stadium and do a sale leaseback so family can capture value to put cash in family member's pockets. The property could still create long term cash flow to family if they retain some of the other real estate.Trend has been for NFL teams to move to suburban locations and Bears are no different. Travelling to a stadium along the lakefront with no access from east is a traffic nightmare even if they move to the south.

This play was setup many years ago when Bears moved offices out of Soldier Field but they still couldn't get ahead of the curve. There is more value to be created for the McCaskey family by building a team owned facility in AH than being a tenant of the City of Chicago.

[Dr. Blackheart]

That "article" isn't an article as it was a spin piece by the Bears. My guess is it was material to allure ministers and politicians to support the Bears which creates leverage against AH. Note that Brandon appeared in video as well. Seemed like a rough day of work to me as he had to go to office to workout and then go home to wash Mercedes before driving family to game. Tough day with close in private room at Joe's Stone Crab.

The Bears should have been negotiating with AH before they closed on property. My personal opinion is they will build a new stadium and do a sale leaseback so family can capture value to put cash in family member's pockets. The property could still create long term cash flow to family if they retain some of the other real estate.Trend has been for NFL teams to move to suburban locations and Bears are no different. Travelling to a stadium along the lakefront with no access from east is a traffic nightmare even if they move to the south.

This play was setup many years ago when Bears moved offices out of Soldier Field but they still couldn't get ahead of the curve. There is more value to be created for the McCaskey family by building a team owned facility in AH than being a tenant of the City of Chicago.

What you say is all true. But the Bears will be leaseholders on the lakefront. 

[Jockey]

What you say is all true. But the Bears will be leaseholders on the lakefront.

That is the Bears-iesty thing to do. But even the losers in charge know that they need to own and develop. That is where the money is.


Only the Bears can screw this up.

[The Hippie Satan of Hyperbole]

https://news.wttw.com/2024/06/03/illinois-house-speaker-emphatic-bears-sox-won-t-get-public-funding-stadiums

"Not only did the Chicago Bears and White Sox fail to win state funding for new stadiums before the General Assembly’s session ended last week, the teams shouldn’t expect to notch a legislative win later this year.

“As we’ve said to the Bears over and over again, to the White Sox, and also to the Chicago Red Stars, there’s just no appetite to use taxpayer funding to fund stadiums for billionaires,” House Speaker Emanuel “Chris” Welch told WTTW News in an interview Monday. “Even after the election.”

Those four words — “even after the election” — send a strong signal that the teams don’t stand much of a chance. That’s because the post-election period is when lawmakers traditionally take their most risky votes because they’re either lame ducks not returning to public office, or at least further away from asking voters to be reelected."

[Pakuni]

https://news.wttw.com/2024/06/03/illinois-house-speaker-emphatic-bears-sox-won-t-get-public-funding-stadiums

"Not only did the Chicago Bears and White Sox fail to win state funding for new stadiums before the General Assembly’s session ended last week, the teams shouldn’t expect to notch a legislative win later this year.

“As we’ve said to the Bears over and over again, to the White Sox, and also to the Chicago Red Stars, there’s just no appetite to use taxpayer funding to fund stadiums for billionaires,” House Speaker Emanuel “Chris” Welch told WTTW News in an interview Monday. “Even after the election.”

Those four words — “even after the election” — send a strong signal that the teams don’t stand much of a chance. That’s because the post-election period is when lawmakers traditionally take their most risky votes because they’re either lame ducks not returning to public office, or at least further away from asking voters to be reelected."

The Bears could have (and maybe still can) received some public funding for this if they had only made a reasonable request. Instead, they went public - without first consulting the governor or legislators - with a request three times more than any stadium project in history.
Just a clown show.

[dgies9156]

Here's a very "creative" idea.

The Bears are worth about $6.3 billion. They're probably worth about $9 billion or more after a new stadium.

Assuming the Bears have less than $1 billion of total operating debt (lines of credit, fixed operating loans and loans on the Halas Hall facility), why not put up about $500 million of the family's money, plus a contribution from the NFL of say $400 million.

That's $900 million of cash with the remainder secured by the franchise. Go to Goldman or some other money center lender and borrow the rest. Get a five-year lock-out against prepayment and issue bonds secured by the revenue of the franchise. Should be able to borrow pre-tax in the 6 percent to 7 percent range.

Problem solved. Get your piggy backside out of the public trough, Bears!

[Jockey]

The Bears could have (and maybe still can) received some public funding for this if they had only made a reasonable request. Instead, they went public - without first consulting the governor or legislators - with a request three times more than any stadium project in history.
Just a clown show.

I think I smell a liquidity problem with the franchise.

[dgies9156]

I think I smell a liquidity problem with the franchise.

As I said earlier, I think it's a dividend problem.

The family wants dividends. Debt service at market rates cut into the dividend paying capability of the company to investors. If that's what you mean, yes. But liquidity problems historically means an ability to meet obligations, not pay dividends.

I don't think the Bears have any problem meeting their pre-tax corporate obligations.