(The Center Square) – Even with the city facing a budget deficit of nearly $1 billion, Chicago Mayor Brandon Johnson says he still favors a new lakefront stadium for the Bears.
Johnson said he remains committed to keeping the National Football League club in the city.
“The $600 million debt that’s owed on the old stadium is a depreciating asset,” the mayor said.
Johnson explained to the City Club of Chicago last week that billionaires and visitors would pay for the stadium with Illinois Sports Facilities Authority hotel tax revenue.
“Billionaires and visitors would pay for a stadium, as well as eliminate the debt from the old stadium, that the city of Chicago would own,” Johnson proposed.
The Bears have played in Chicago since 1921, when the team, then called the Staleys, moved from Decatur.
The Bears agreed to a property-tax deal with Arlington Heights last month but said they remain focused on a new lakefront stadium in Chicago.
Johnson suggested that Bears ownership could kick in $2 billion.
“If someone has a better plan than eliminating the debt, building a stadium with visitors and billionaires that the city of Chicago would own while creating more space and creating jobs for the young Black men who are signed up at community colleges, if you have a better plan than that, see my senior adviser, Jason Lee,” the mayor said.
Reporters questioned Johnson about Lee at the Northside Housing and Supportive Services ribbon-cutting event on Monday.
Election records show that Jason Lee voted in Texas in last month’s presidential election, despite a residency requirement for city of Chicago employees.
The mayor said that the reports involving his senior adviser are “being looked into.” He said he would respond further once a “full diagnostic” is done.