Gov. George Ryan today signed a bill authorizing funds to help finance the $587 million remodeling of Soldier Field, which is scheduled for completion in time for the Chicago Bears’ 2003 season.
“For years we’ve seen stadium proposals fall by the wayside, but Mayor (Richard) Daley and the Bears came up with a plan that worked,” Ryan said at a news conference this morning at Soldier Field.
The bill signed by Ryan authorizes the Illinois Sports Facilities Authority to issue $387 million in bonds to pay for the project. The remaining $200 million will be split evenly by the Bears and the National Football League, which is making a loan to the team.
More Top Picks Best Outdoor String Lights For Patio
State lawmakers approved the bill during the General Assembly’s fall veto session in late November.
Under the plan, the Bears will pay $5.7 million a year in rent, about $1 million more than the team pays now.
The renovations include a new 2,500-space underground parking garage, a veterans’ memorial and improvements to McFetridge Drive.
The project is scheduled to begin at the end of the Bears 2001 season. Team President Ted Phillips said he is considering several options for alternative stadiums where the Bears would play the 2002 season during the renovations.
Phillips said the football stadiums of the University of Illinois in Urbana-Champaign or Northwestern University are possibilities.
“We are hoping to get an arrangement by spring,” he said.
And with improvements of Soldier Field, state officials said they are now hoping to see improvements in the Bears’ play.
“If you need help in building some kind of team,” Ryan joked to Phillips, “we’d be glad to help you out.”