The Dugout - General Topics, Chat, Random Photos and Memes.......No Politics

#73,332
#73,332
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#73,341
#73,341
W.TN.Orange Blood said:
All for $6 Billion no less. Fun times for a city that's broke.
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Actually, they already have a plan in place where they won’t need money directly from the people. This seems like the best way for a professional sports team to operate whenever it comes to new stadiums. Hopefully other states take notice.

“The Bears have pledged to contribute more than $2 billion to the project—over 70% of the total stadium cost. The remaining stadium funds are proposed to come from the Illinois Sports Facilities Authority (ISFA), a government entity that was created by the Illinois General Assembly in 1987 for the purpose of constructing and renovating sports stadiums for professional teams in the state of Illinois. The Bears' proposal can be accomplished with the existing 2% hotel tax used to back ISFA bonds.”
 
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#73,343
#73,343
VolPack22 said:
Actually, they already have a plan in place where they won’t need money directly from the people. This seems like the best way for a professional sports team to operate whenever it comes to new stadiums. Hopefully other states take notice.

“The Bears have pledged to contribute more than $2 billion to the project—over 70% of the total stadium cost. The remaining stadium funds are proposed to come from the Illinois Sports Facilities Authority (ISFA), a government entity that was created by the Illinois General Assembly in 1987 for the purpose of constructing and renovating sports stadiums for professional teams in the state of Illinois. The Bears' proposal can be accomplished with the existing 2% hotel tax used to back ISFA bonds.”
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And you believe that hogwash? Somehow, taxpayers are always left holding the bill.
 
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#73,345
#73,345
W.TN.Orange Blood said:
And you believe that hogwash? Somehow, taxpayers are always left holding the bill.
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Increased ticket and concessions prices more than likely. Additionally, there is a reason these pro teams are building entertainment districts instead of stand alone stadiums. It allows the team to recoup money in other ways than before. The Braves did the exact same thing with The Battery. They made $59M from The Battery just last season. Truist Park cost is a separate issue because taxpayers are having to pay for that and that is unfortunate. All pro teams should fund their own projects imo but it seems Illinois did it right from outside looking in.
 
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