Bears vow to STAY in Chicago: Team president announces plans to contribute $2 billion for a publicly-owned stadium after '$6.8billion' NFL franchise threatened to relocate

The Chicago Bears stopped short of singing Frank Sinatra's 'My Kind of Town,' but the NFL franchise valued at $6.3 billion has finally decided to stay in the Windy City after threatening to leave for the suburbs.

Bears CEO and President Kevin Warren revealed plans on Monday for a new publicly-owned Stadium within Chicago's city limits following years of difficult negotiations. The Bears plan to contribute $2 billion to the stadium.

Chicago's NBC affiliate spoke to an unnamed legislator familiar with the plans, who told the network that the stadium would be domed and come with a park space. It remains unclear if the proposed stadium will be near the Bears' century-old home, Soldier Field, but Crain's previously reported that construction could occur just south of the stadium along Lake Michigan. 

'The Chicago Bears are committed to contributing over $2 billion to build a stadium and improve open spaces for all families, fans and the general public to enjoy in the City of Chicago,' Warren, the former Big Ten commissioner, said in the statement.

'The future stadium of the Chicago Bears will bring a transformative opportunity to our region—boosting the economy, creating jobs, facilitating mega events and generating millions in tax revenue. We look forward to sharing more information when our plans are finalized.'

A general view of the exterior of Chicago's Soldier Field before a preseason game in 2021

Bears CEO Kevin Warren revealed plans on Monday for a new publicly-owned Stadium

A year ago, the Bears closed on a 326-acre property in the Chicago suburb of Arlington Heights, but city officials never gave up hope that they could retain the Bears.

Mayor Brandon Johnson has also expressed optimism that a new stadium can be built in Chicago for the city's American League baseball team, the White Sox.

But while Warren has offered $2 billion for a publicly-owned stadium in Chicago, some of that cost will inevitably fall on the fans, who will see ticket prices surge by an average of 8 percent next season.

The team previously planned to move to a 326-acre property in suburban Arlington Heights 

Announcing the price increase last month, Warren cited 'market considerations that factor into our business decisions.'

The Bears currently play at the iconic Soldier Field, which can hold up to 61,500 people, making it one of the NFL's smaller venues.

And due to Soldier Field's limited capacity, Chicago's average game attendance ranked next-to-last in 2022 (59,823) and dead last in 2023 (61,769). 

The Bears are coming off a 7-10 season, but do have the top pick in next month's NFL draft, where they are expected to take a quarterback to replace Justin Fields.