Tag

Stadium Financing

All articles tagged with #stadium financing

business16 hours ago•13 min saved

Indiana signs framework to finance Bears stadium in Hammond

Indiana Gov. Mike Braun signed Senate Bill 27 to establish the financial framework for a Chicago Bears stadium in Hammond, including roughly $1 billion in state-bond financing repaid by revenues from Hammond’s 12% admissions tax and a stadium development district, plus proposed local taxes and a renegotiated toll-road lease. The Bears would invest over $2 billion; Illinois lawmakers are weighing incentives to keep the team, but no deal yet as competing measures and local concerns unfold.

via Chicago Tribune|

#bears #business #hammond

local3 days ago•17 min saved

Park District pitches $630M Soldier Field revamp amid Bears move talks

The Chicago Park District unveiled a $630 million plan to convert Soldier Field into a year‑round venue for concerts and major events, including sound upgrades and surrounding infrastructure improvements; the proposal would add to existing stadium debt funded in part by hotel‑tax revenue that has fallen short, as state lawmakers in Illinois and Indiana weigh Bears relocation options to Arlington Heights or other sites.

via Chicago Tribune|

#chicago-bears #chicago-park-district #hotel-tax-revenue

politics4 days ago•3 min saved

Indiana tax plan eyed to back Bears stadium financing in Hammond

A fiscal note for Senate Bill 27 shows Northwest Indiana could be taxed to fund a Chicago Bears stadium in Hammond, using bonds backed by new taxes (1% food-and-beverage in Lake and Porter counties, a Lake County hotel tax increase, and a Hammond admissions tax) plus potential toll-road lease proceeds; revenue estimates exist but total figures are uncertain as lawmakers mover toward a second reading.

via Indiana Capital Chronicle|

#bears-stadium #indiana #northwest-indiana

politics7 days ago•3 min saved

Illinois braces for cross-border Bears stadium bid as Indiana advances

Illinois lawmakers say there’s no deal yet as the Chicago Bears weigh a new stadium in Hammond, Indiana, where Indiana is moving forward with a bill to finance the project via bonds supported by an admission tax and an entertainment district. The Bears would invest about $2 billion, Indiana would contribute over $1 billion, and the stadium would be owned by a state authority. Governor Pritzker says progress is being made on an Illinois framework, but lawmakers warn the Illinois bill isn’t dead and tweaks may be needed. Indiana’s bill is expected to pass soon, while Illinois considers its own path; construction could start this year if a deal materializes. The proposed site near Wolf Lake sits roughly 20 miles from downtown Chicago and would require environmental and NFL approvals, keeping the plan in flux.

via Axios|

#arlington-heights #chicago-bears #illinois-politics

sports8 days ago•8 min saved

Bears eye Hammond site as Indiana advances stadium plan

Indiana lawmakers moved forward with a plan to bring the Chicago Bears’ stadium to Hammond by approving an amendment to Senate Bill 27 to create a Northwest Indiana Stadium Authority with bond and land-acquisition powers to finance the project near Wolf Lake, signaling momentum for a Hammond site as Bears officials voiced a vision and Illinois debated tax-incentive proposals for Arlington Heights.

via CBS News|

#chicago-bears #hammond-indiana #sb-27

business24 days ago•5 min saved

Tampa Bay Rays push for public-backed ballpark on college campus

Gov. Ron DeSantis, MLB Commissioner Rob Manfred and other officials voiced support for the Rays' plan to build a ballpark on Hillsborough College's Dale Mabry campus, but financing remains contentious as the team seeks public funds up to roughly $2.3 billion; Rays say they will cover at least 50% and rely on public sources like tourism taxes, sales taxes, and property taxes. Local leaders, including Mayor Castor, remain skeptical about using taxpayer money; a 180-day exclusive negotiation window has begun, with the target opening around 2029 and past financing efforts having stalled.

via Tampa Bay Times|

#business #desantis #manfred

education1 month ago•8 min saved

Rays eye stadium and campus revamp at Hillsborough College site

The Tampa Bay Rays are proposing a new baseball stadium on Hillsborough College’s Dale Mabry campus, part of a broader redevelopment that would add college facilities and a mixed-use development. A non-binding memorandum of understanding outlines a long-term lease of most property to the Rays, with the college retaining control of its campus facilities and the master plan requiring the college’s approval; ownership of any publicly funded stadium components could transfer to the county. The Hillsborough College District Board will meet to discuss and vote on the MOU.

via Tampa Bay Times|

#dale-mabry-campus #education #hillsborough-college

politics1 month ago•5 min saved

Arlington Heights press for state action on Bears stadium deal

Arlington Heights officials urge Illinois lawmakers to pass a 'Mega Projects' bill to let the Bears negotiate long-term property taxes for a potential stadium, warning the team could relocate to Indiana where lawmakers have proposed a northwest Indiana stadium authority; Indiana leaders, including Gov. Braun, are pushing the plan, while the Bears say it advances talks. The project is estimated to require about $855 million in infrastructure funding and could create thousands of jobs and billions in activity, though stadium subsidies remain controversial and often debated as good public policy.

via Chicago Tribune|

#arlington-heights #chicago-bears #mega-projects-bill

local-government8 months ago•2 min saved

Missouri Governor Approves Stadium Funding for Chiefs and Royals

Missouri Governor Mike Kehoe signed legislation to help finance stadium projects for the Kansas City Chiefs and Royals, including bonds and tax credits, in an effort to persuade the teams to stay in Missouri amid ongoing stadium discussions and previous failed voter initiatives.

via The New York Times|

#chiefs #legislation #local-government

local-news1 year ago•3 min saved

St. Pete Delays Tropicana Field Repairs Amid Rays Stadium Uncertainty

The St. Petersburg City Council voted to delay a decision on issuing bonds for a new $1.3 billion stadium for the Tampa Bay Rays, aligning with Pinellas County's earlier decision to postpone its financing vote. The delay, pushed to no later than January 9, allows newly elected council members critical of the deal to participate. The Rays have indicated they may terminate the agreement under current terms, casting doubt on the future of the project. The council also reversed a decision to fund repairs to Tropicana Field's roof, further complicating the situation.

via Tampa Bay Times|

#city-council #local-news #pinellas-county

sports1 year ago•3 min saved

Rays' Stadium Plans Stalled as Funding Vote Delayed Again

The Tampa Bay Rays' plans for a new stadium in St. Petersburg face uncertainty after the Pinellas County Board postponed a vote on bond financing for the second time, potentially delaying or jeopardizing the project. The delay follows comments by Rays owner Stu Sternberg, which frustrated commissioners. The Rays, currently displaced from Tropicana Field due to hurricane damage, may play 2025 home games at Steinbrenner Field in Tampa. The future of the Rays in the Tampa Bay area remains unclear as the team and county officials navigate financial and logistical challenges.

via The Athletic|

#hurricane-milton #pinellas-county #sports

sports1 year ago•2 min saved

Kansas Governor Signs Bill to Attract Chiefs and Royals

Kansas Governor Laura Kelly signed legislation to help finance new stadiums for the Kansas City Chiefs and Royals, aiming to lure the teams from Missouri. The measure, effective July 1, allows bonds to cover 70% of stadium costs, repayable over 30 years with revenues from sports betting, lottery sales, and new taxes. This move follows Missouri voters' refusal to extend a sales tax for the current stadium complex, prompting Kansas to act swiftly. Critics argue the teams are leveraging both states for better subsidies, while supporters warn of potential relocation if neither state acts.

via ESPN|

#kansas #kansas-city-chiefs #kansas-city-royals

sports1 year ago•3 min saved

A's Plan to Split Home Games Threatens Las Vegas Stadium Finances

The Oakland Athletics are planning to move to Las Vegas by 2028 but have requested to play up to eight home games per season outside of Las Vegas, potentially impacting financial projections and raising questions about the team's commitment to the city. The Las Vegas Stadium Authority Board will vote on the agreement on July 18.

via Bleed Cubbie Blue|

#las-vegas #mlb #oakland-athletics

sports1 year ago•12 min saved

"Bills and Texans Take Different Paths After Stefon Diggs Trade"

The Buffalo Bills are parting ways with star receiver Stefon Diggs and facing a significant roster overhaul, while the Houston Texans are making bold moves to strengthen their team, including acquiring Diggs. Meanwhile, the Arizona Cardinals' owner, Michael Bidwill, is facing legal and financial troubles after losing an arbitration case, and the NFL is seeing stadium financing issues in both Kansas City and Buffalo.

via The Boston Globe|

#buffalo-bills #houston-texans #nfl

sports1 year ago•2 min saved

"Chiefs and Royals Propose $270 Million Community Benefits Plan for Jackson County Vote"

The Kansas City Chiefs and the Kansas City Royals have pledged $266 million in "Community Benefits Agreements" to Jackson County, Missouri, contingent on the extension of a sales tax through a vote on April 2. Critics view this as a form of bribery, arguing that not extending the tax would benefit the county more than the promised funds. The teams' tactics, including threats of relocation and promises of free money, may further galvanize opposition to the tax extension.

via NBC Sports|

#jackson-county #kansas-city-chiefs #kansas-city-royals