Soldier Field slated for $630m renovation as Chicago admit defeat and Bears face huge financial penalty

Feb 23, 2026 - 13:15

The Chicago Bears are leaving Soldier Field after over five decades.

“I think now there’s a common understanding by most of the General Assembly that they’re not going to be able to build in the city of Chicago,” admitted Illinois Governor J.B. Pritzker Friday.

Soldier Field will have a life post-Bears should they relocate to Indiana

With options on the table at the site of the former Arlington International Racecourse and across state lines in Indiana, the franchise has a lot to mull over.

Wherever the team ends up, the NFL‘s oldest stadium will still be standing on Chicago’s waterfront, leaving local lawmakers with a decision to make.

Plans for Soldier Field to receive $630m transformation, Bears risk penalty

Fox 32 Chicago has revealed a plan by the Chicago Park District to transform the 102-year-old arena and ensure the public isn’t left short changed.

It would create a massive concert and event venue at a cost of $630 million.

Per the report, $130 million would be spent on renovations from a sound system to dressing rooms, with the rest allocated to improve the surrounding infrastructure.

However, the Bears could end up footing some of the bill with a $90 million payment should they break their lease before 2033.

“Our responsibility is to ensure that Chicago’s lakefront stadium continues to serve as a strong public asset that supports park programming and maintenance across the city, vital public services, and the broader tourism economy anchored by the Museum Campus,” Chicago Park District spokesperson Michelle Lemons told Fox 32.

The Bears reportedly account for less than 20 percent of the stadium’s revenue.

“The future of Soldier Field is very bright, with or without the Bears,” said former Chicago Park District CEO David Doig.

“There’s an opportunity for more concerts, special events, and the additional concerts will more than cover that revenue loss.

The NFL is a major draw but there are plenty of other events to make up the shortfall

“One of the missed opportunities we had in the early 2000s was to make it more of a central War Memorial, as it was originally built.

“So I think there are ways to open it up to the public to make it more of a destination for people coming to the Museum Campus, which could also generate more revenue.”

A Veterans Memorial and a Chicago Sports Hall of Fame could be created at the site, which will now be available for more regular use during the football season.

The city is still half a billion in debt after funding a 2003 renovation, which is paid by a hotel tax.

More concerts would drive hotel occupancy and help pay for the new project as well as existing debt with one weekend of Beyoncé concerts raking in around $85 million in 2025.

Indiana’s bid to poach the Bears away from Illinois appeared to gather pace as the Northwest Indiana Stadium Authority was approved by the Indiana House Ways and Means Committee Thursday.

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The body is intended to help facilitate the creation of a new stadium around the shore of Lake Michigan — around 20 miles south of Soldier Field.

It was a bold move in a high-stakes chess match, but don’t rule out Illinois just yet.

The Bears have never owned their own stadium and the major motivation for the relocation is money.

Hammond, Indiana, offers a scenic location, but Arlington Heights has plenty of space to create a mixed-use development that NFL teams crave in order to create year-round income.

The Bears bought the 326-acre site three years ago and are most likely using the rival interest as a bargaining chip to get the best deal possible.

Arlington Heights has a huge, affluent catchment area with over 3 million potential fans, per The Athletic.

The Bears wanted to begin construction in 2025 and with two states scrambling to secure the team, a decision could be coming soon.

One NFL team has already agreed to cross state lines with the Kansas City Chiefs leaving Missouri. When billions are involved, anything is possible.

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