BroBible
Professional sports franchises have become accustomed to getting loads of money from government coffers when they want to upgrade the venues they call home. However, one politician in Illinois is pushing back against that trend with a new bill that would require teams to be good if they want to land public funds while firing a not-so-subtle shot at the Bears.
Anyone who’s pregame a sporting event at a packed bar in the vicinity of a stadium or arena can probably understand why franchises attempt to argue their mere presence provides a boom to the local economy thanks to the dining establishments, hotels, and other businesses that benefit from the fans they’re able to attract.
That argument is the primary one franchises turn to when attempting to justify the use of taxpayer money, government bonds, and other subsidies that are frequently harnessed to facilitate the construction or renovation of a stadium or arena, although there’s a boatload of research that strongly suggests those supposed investments rarely pay off in the long run.
In 2024, the Chicago Bears revealed their plans for a new $3.2 billion stadium situated on the shore of Lake Michigan while pledging $2 billion to fund the project along with a $300 million loan provided by the NFL.
That still leaves $900 million unaccounted for, and you probably won’t be shocked to learn the team is hoping the public will front the rest of the cost with the help of bonds issued through the Illinois Sports Facilities Authority (which generates money with the help of a 2% hotel tax).
As things currently stand, none of that public funding has been officially allotted, and the Bears could be facing an uphill battle thanks to Da Bears Stadium Oversight Act, a bill that’s been introduced to the state’s legislature by Representative Bob Morgan, a Democrat representing the Chicago suburbs that comprise the 58th District.
The bill would essentially require the Bears and other franchises seeking public funding to be good in the years leading up to their request, as “to be eligible for public financing, a professional sports team must have achieved a 0.500 record in at least 3 out of the last 5 regular seasons” in order to get money for stadium construction, renovations or maintenance.
The Bears have not come close to sniffing the .500 mark over the past three seasons (they’ve gone 15-36 for a winning percentage of .294), and based on those stipulations, the end of the 2020 campaign marks the last time they would have been eligible.
The bill is still in the very early stages of the legislation process (it was introduced to the Rules Committee on Thursday), but it’ll certainly be worth keeping an eye on.
The post Illinois Lawmaker Proposes Bill To Prohibit Bears From Getting Public Funds For New Stadium Until They’re Good Again appeared first on BroBible.
