April 23, 2024

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The Bears are pushing forward on ambitious designs for a domed stadium built along the downtown Chicago shores of Lake Michigan. … Patrick Mahomes is a link to every stadium development story unfolding in Kansas City. … The Drone Racing League makes a big deal regarding its ownership. … Plus: More on Andy Reid, the Pac-12, Mark Wahlberg, and the NBA draft.

— Eric Fisher [[link removed]] and David Rumsey [[link removed]]

Bears Set to Forge Ahead With Domed Lakefront Stadium Plans [[link removed]]

Quinn Harris-USA TODAY Sports

The Bears know a thing or two about timing and are set to make a big announcement a day before Thursday’s NFL draft, where they hold the No. 1 pick.

Chicago is advancing its efforts to build a lakefront stadium just south of Soldier Field (above), showing some initial progress in the face of opposition to the team’s plans.

The NFL team has called a Wednesday press conference to detail its plans for a “state-of-the-art, publicly owned enclosed stadium” on the city’s Museum Campus near Lake Michigan. The move builds materially on the Bears’ announced intent [[link removed]] last month to stay in the city of Chicago after a lengthy tour of alternate options across the area suburbs.

Reading Between the Lines

Like any other stadium project, there is still a very long way to go between an event like this press conference and an actual opening. But this latest step does show the depth of the Bears’ desire to hone in on this particular location after initial resistance surfaced [[link removed]] from two local preservation groups as well as in Arlington Heights, where the Bears previously intended to build the stadium.

And also like many other stadium developments, there are still significant questions about financing of the Bears’ project. The venue itself is projected to cost between $2.5 billion and $3 billion, with perhaps another $1 billion going toward roads and infrastructure improvements. The Bears have pledged $2 billion toward the effort. There have been talks about a potential “financing partnership” [[link removed]] with the White Sox in which both teams would take a more collaborative approach to help ensure their respective efforts to build new stadiums get done.

But how that remaining funding gap is filled, presumably with some form of taxpayer assistance, will be a critical factor—particularly given that there is no deal in place with either the city of Chicago or the state of Illinois.

“If we’re going to build 21st-century stadiums, we have to make sure that that investment is activating the entire city of Chicago, and these conversations, particularly with the Bears, have been quite positive,” Chicago mayor Brandon Johnson said last week. “I appreciate the leadership of [team president] Kevin Warren. … But no, we have not made any commitments to any new forms of revenue.”

The Bears’ stadium saga remains one of the most closely watched issues across the NFL, as well as the rest of the sports industry. Despite being the country’s third-largest media market, Chicago, for years, has been shut out of hosting major events such as the Super Bowl and Final Four, as it does not have a large-scale domed stadium.

South Side Shift

The White Sox, meanwhile, are facing some resistance in their efforts to build [[link removed]] a successor facility to Guaranteed Rate Field, and do so closer to downtown Chicago. Johnson recently vetoed [[link removed]] an idea of using the city’s amusement tax for either the Bears’ stadium project or the one advanced by White Sox owner Jerry Reinsdorf, and added that the MLB team owner needs to “put some skin in the game.”

To that end, Crain’s Chicago Business [[link removed]] reported that Reinsdorf is prepared to pay at least $200 million toward the project. But with initial cost estimates for the White Sox stadium hovering around $1.2 billion—a figure likely to escalate—a significant funding gap remains there, too.

K.C. Current’s Stadium Success Highlights Chiefs’ and Royals’ Failures [[link removed]]

Jay Biggerstaff-USA TODAY Sports

There is an expensive and complicated situation playing out around sports venues in Kansas City, and, in a weird way, Patrick Mahomes (above, second from left) is connected to all of them.

Beyond his full-time job as quarterback of the Chiefs, the two-time NFL MVP has minority ownership stakes in the Royals and K.C. Current, as part of his portfolio that also includes an investment in Sporting KC and Major League Pickleball. Mahomes joined the MLB team’s ownership group in 2020 and is one of the founders, along with his wife, Brittany Mahomes (above, far left), of the NWSL club that launched in ’21 and is currently atop that league’s standings.

How We Got Here

So, what’s at the heart of the stadium drama? Leaders of the NFL’s back-to-back Super Bowl champions are not-so-subtly threatening [[link removed]] to leave Kansas City if they don’t end up getting their desired public funding for renovations to the 51-year-old Arrowhead Stadium. The Royals, in the midst of planning a new $2 billion ballpark, have also put out similar messaging after voters in Jackson County, Mo., nixed a tax proposal [[link removed]] for stadium funding that Mahomes and star teammate Travis Kelce openly helped campaign for.

The Current, however, recently announced more development around their historic downtown venue [[link removed]] that was privately financed at a cost of $117 million and was the first stadium purpose-built for a pro women’s team. The next phase will see the construction of a mixed-use riverfront district at a cost of at least $200 million in private funds. That entire project is forecast to exceed $800 million—coincidentally the same amount of money that the Port Authority of Kansas City last year approved in bonds to help the Current finance the development.

Public Versus Private

While local officials are involved in both situations, the difference is that the Chiefs and Royals are asking for public money while the Current will simply get a friendlier interest rate on the bonds than they would on a private loan. Sure, the roughly $800 million the Current will be spending is far less than the $2 billion the Chiefs and Royals’ failed tax proposal could have generated. But the NWSL franchise is still getting things done in a way that its local counterparts have not yet been able to.

For the Chiefs and Royals, both have leases at their current homes through early 2031, at which point they could theoretically find new homes—in the greater K.C. area or elsewhere—if they are serious about moving.

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For Chop Robinson, his Dreammate is his father, John Robinson.

Watch [[link removed]] A Dreammate Story to learn more [[link removed]] about Chop’s story as he prepares to realize his dream.

ONE BIG FIG Ready for Takeoff

Drone Racing League

$250 million

Amount of money that Infinite Reality, a technology company active in developing experiences for the metaverse, is paying for the Drone Racing League. The DRL in recent years has amassed an operation that includes national broadcast exposure on NBC Sports, investment from the likes of Liberty Media and RSE Ventures controlled by Dolphins owner Stephen Ross, a highly engaged social following, and sponsorship from major companies like T-Mobile, Allianz, and Google Cloud. The league has also staged events at or near major sports ventures such as T-Mobile Arena in Las Vegas and Miami’s LoanDepot Park. The agreement, which values Infinite Reality at $3.5 billion and is slated for a closing later this quarter, is aimed at furthering the DRL’s presence as a technology-driven sport.

STATUS REPORT One Up, Two Down, One Push

USA TODAY

Andy Reid ⬆ He is now the highest-paid coach in the league, according to NFL.com [[link removed]], thanks to a five-year contract extension keeping him in Kansas City through 2029. It’s unclear exactly what Reid’s salary will be, but Bill Belichick was said to be making $25 million a year with the Patriots, and Sean Payton is believed to be earning roughly $20 million annually. Chiefs general manager Brett Veach and president Mark Donovan also received contract extensions.

Pac-12 ⬇ The NCAA Division I Board of Directors officially moved the league from an autonomy Football Bowl Subdivision conference to a nonautonomy FBS conference, which negatively impacts the weight of its vote at the council level and participation in the autonomy legislative process.

Mark Wahlberg ⬇ The actor’s F45 Training fitness chain is being sued [[link removed]] by David Beckham’s company, DB Ventures, with the former soccer star and current co-owner of Inter Miami claiming he was “duped” into signing an endorsement deal, and he is seeking $10 million.

NBA draft ⬆⬇ The league broke [[link removed]] six ties among 15 teams to determine the order of next month’s lottery and the selection of picks in June. The Hornets and Kings, which saw their odds of landing the top pick slightly improve, were among the bigger winners, while the Trail Blazers and Warriors were among the notable losers. The draft will be held June 26 and 27.

FRONT OFFICE SPORTS AWARDS

One Day Left for Early Nominations

Rising 25 is back and it’s time to nominate an up-and-coming young professional changing the game in the business of sports.

The Front Office Sports Rising 25 Award [[link removed]] celebrates the careers of the brightest young stars in the business of sports. To date, we’ve honored 175 individuals and we’re looking for our next group of young stars.

Nominations are open now through Friday, May 17. Winners will be announced in June.

There’s only one day left in the early-bird pricing window. Don’t wait— nominate today [[link removed]].

Conversation Starters Downtown Detroit is gearing up to host the NFL draft, which kicks off Thursday night. The draft stage and theater for the big event is taking shape. Take a look [[link removed]]. Former Ohio State star Marvin Harrison Jr. has signed a multiyear deal [[link removed]] with New Balance, where he’ll play a key role in launching its inaugural American football cleats at the NFL draft. From ice rinks made of rainwater to solar panels in the desert, more and more stadiums are embracing sustainable practices. Check out [[link removed]] some of the most notable “green” venues in sports. Editors’ Picks Caitlin Clark’s Nike Deal Reportedly Worth $28 Million Over Eight Years [[link removed]]by Margaret Fleming [[link removed]]The deal would become the largest for a women’s basketball player. Long Saga of Botched Timberwolves Sale Heads to Mediation [[link removed]]by Alex Schiffer [[link removed]]The battle for the team could be resolved before next season, an expert says. The WNBA Boom Goes Beyond Caitlin Clark [[link removed]]by Margaret Fleming [[link removed]]Ticket sales and prices are way up from last year. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Sports Careers [[link removed]] Written by Eric Fisher [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Catherine Chen [[link removed]]

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