"White Sox Owner Jerry Reinsdorf Pushes for New Stadium Funding Amid Taxpayer Concerns"
The Chicago White Sox and owner Jerry Reinsdorf are seeking $1 billion in public funding for a new stadium at "The 78," with plans to use private investment funds from housing, bars, restaurants, and parking to create funding back to the state. Reinsdorf is confident in winning state approval for the complex financial plan, but faces skepticism from Illinois Gov. J.B. Pritzker and other state politicians who are hesitant to use public funding on stadiums. The plan also involves extending the Illinois Sports Facilities Authority's bonds by 30 years and using a 2% hotel occupancy fee to pay for the stadium and Bears' 2003 renovations to Soldier Field. If approved, it could be a significant development in Chicago's history.