The Bears have confirmed what has long been suspected: If they move to the suburbs, the bill for a new stadium almost certainly would have to be footed privately.
But what the team was unwilling to say Thursday was how it would raise the $200 million to $300 million needed for such a project. Usual financing proposals, such as stadium naming rights, advertising and controversial prepaid “seat licenses,” almost certainly would be part of such a plan.
But would the team go so far as to sell ownership through a public offering of stock? Or could a financier come out of the woodwork and be a benefactor to team President Michael McCaskey?
The Bears would not comment beyond a prepared statement that also confirmed what team officials have already said: They are engaged in talks with Elk Grove Village.
Those talks were disclosed in February, but only recently has interest in them reached a fever pitch. Village trustees have been bombarded with telephone calls from constituents, most of whom, they say, are skeptical of a Bears move.
And Mayor Craig Johnson repeated Thursday that talks between the team and the village are only exploratory at this point.
“I don’t know how many times I have to say it, and I don’t know why everybody’s calling now,” Johnson said. “These talks are preliminary. And I know for a fact that they are talking to other suburbs too.”
Still, Elk Grove Village has taken some steps that no other potential Bears suitor has done: In March, it hired an attorney with big-time development experience to negotiate with the Bears. Lawyer Mary Riordan has met several times a week with team officials.
With less than two years left on its lease at Soldier Field, the team has sought a two-year extension at the Chicago Park District facility.
But city negotiators, who said Thursday they haven’t heard from the team for months, are standing firm on an offer of a five-year extension.
