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Bears sign purchase agreement for Arlington International Racecourse

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Bears sign purchase agreement for Arlington International Racecourse

Following a rough couple of days involving Matt Nagy’s putrid offense and the usage of rookie quarterback Justin Fields, Bears fans finally got some good news that should make for a bright future for the franchise.

According to The Athletic, the Bears have signed a purchase agreement for the Arlington International Racecourse property in Arlington Heights. The move is expected to be officially announced Wednesday morning.

Early Newspaper

Now, it could just be a negotiating tactic. But it could also mean the development of a new state-of-the-art stadium.

“We are not surprised by this move. We remain committed to continuing the work to keep the team in Chicago and have advised the Bears that we remain open to discussions,” a spokesperson for the mayor’s office told The Athletic. “However, just as the Bears view this as a business decision so does the City. This season, Soldier Field signed a major contract with the Chicago Fire and just last weekend Soldier Field hosted the Shamrock Series — both of which are lucrative for the Chicago Park District and local economy.

“These examples and others demonstrate that Soldier Field remains a very sought-after venue, and, as the Mayor has said many times, overall, the City and Park District must explore all options to both enhance the visitor and fan experience at Soldier Field year-round and maximize revenues. Therefore, we must do what’s in the best economic interests of our taxpayers and maximize the financial benefits at the important asset that is Soldier Field. As for the Bears, the Mayor has said numerous times, our door in City Hall remains open to engage the Bears.”

The Bears’ lease at Soldier Field runs through 2033. But the Bears would have to pay $84 million to the city if they break the lease in 2026. That would decrease after 2026.

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Bears sign purchase agreement for Arlington International Racecourse