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The Chicago Bears are expected to draft quarterback Caleb Williams with the first overall draft pick on Thursday night. That's not the only big news coming out of the organization this week, as the Chicago Bears are on the hunt to secure funding for their new stadium.
Pro Football Talk's Mike Florio believes that the organization is using Caleb Williams as a potential bargaining chip in their quest for funding. Florio believes that showing the fans that they are committed to putting a solid team on the field will convince them to pay higher taxes to fund a new stadium.
"There's been nothing has been absolutely nothing that would counter the idea that that's who the bears are taking," Florio said.
"And coincidentally or not, today's the day that they're going to pull the sheet off the renderings for their new stadium in Chicago, where they're going to be asking for 2.3 billion, according to Chicago Tribune, in public money between the stadium and the infrastructure, 2.3 billion, the bears will pay 2.3 billion."
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"The public will pay one day before they bring potentially the first franchise quarterback to town since Sid Luckman and have another top ten pick. This is the day to build the momentum. Yeah, to pass the hat right to get 2.3 billion in taxpayer money for your new stadium." [00:01:04][41.5] PFT
The new stadium is expected to cost $4.6 billion, and the team is expected to ask the residents of Chicago to agree to a tax hike to pay $2.3 billion of the stadium's cost.
Despite buying land in Chicago suburb, Bears plan to build a new lakefront stadium
The Chicago Bears purchased land in Arlington Heights, a suburb of the city of Chicago. The land featured 326 acres and was the former home of the Arlington International Racecourse. However, in March, ESPN reported that the team had decided to change course.
The club was unhappy with the property tax on the site and concluded that it would be best to remain within municipal limits. The company has now set its sights on lakefront land and plans to present designs on Wednesday morning.
The state-of-the-art stadium is also expected to have a dome that will be more accommodating for fans who have dealt with the frigid temperatures. Before any of this can happen, though, the team will have to sell the former Arlington Heights property that was purchased and have residents vote on a tax increase.
