The White Sox are pursuing an intricate strategy to secure funding for a new stadium at “The 78” in Chicago’s South Loop. While obtaining public funding from the state is a major challenge, they face a more significant obstacle—the Chicago Bears.
Fred Smith, an economist and David College professor, suggests that the White Sox’s sudden interest in a new stadium is strategic. He points out that the Bears’ stadium situation is a key factor. Cities like Cincinnati and Cleveland have faced similar dilemmas with their baseball and football teams. With limited financial resources, Chicago may only be able to support one new stadium project.
The White Sox’s plan involves using various funding sources, including hotel surcharges, sales taxes from nearby developments, and private investments. This plan aims to cover the stadium’s costs and relieve previous bonds from the Illinois Sports Facilities Authority. The proposal has been swiftly presented to the state government.
The Bears also require public support for a new stadium, as they have indicated to Arlington Heights. However, given the financial constraints of Illinois, only one team is likely to receive substantial public funding. Therefore, the White Sox are positioning themselves to secure funding ahead of the Bears, recognizing the importance of being first in line for state support.
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