MANICA/BEARS
Private equity funding “may be one way the Bears can bridge the gap needed to fund their lakefront stadium project,” although it is “not something the franchise is currently exploring,” according to Phil Rogers of FORBES. Bears President & CEO Kevin Warren, however, confirmed that he is studying the possibility. Under the new NFL policy changes approved by owners, teams can sell limited shares of ownership to private equity firms, up to 10%. Forbes currently values the franchise at $6.4B, making a 10% investment from private equity worth $640M. That infusion of cash could “help Warren get closer to achieving his dream stadium,” but “even with it there would be more work to do.” The franchise has the support of Chicago Mayor Brandon Johnson but Illinois Gov. J.P. Pritzker “hasn’t budged from his position” that public financing is “a non-starter” for the state. The Bear tried unsuccessfully to get a funding bill introduced into last spring’s session of the legislature. The Bears previously purchased land in Arlington Heights as a potential stadium site, but Warren, who was hired away from a job as Big Ten commissioner in 2023, is “intent on building adjacent to Soldier Field” (FORBES, 10/14).
