The team finalized its purchase of 326 acres of land in the Chicago suburbs. That's only the beginning. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Real Estate

Bears Finalize Arlington Heights Land Deal for Potential Future Stadium

Chicago Bears

The Chicago Bears are one step closer to building a flashy new stadium. 

This week, the team announced that it’s finalized its purchase of Arlington Park, a 326-acre enclave in suburban Arlington Heights. 

The construction of a new stadium is one of the main priorities for incoming Bears president and CEO Kevin Warren, who will begin official duties in the spring. The franchise is worth $5.8 billion — the fifth-most-valuable team in the NFL, per Forbes.

The Bears said in a letter that there’s still no guarantee the land will be used for a new stadium.

If the plans do go forward, the Bears hope to build a stadium as well as “a regional hub for entertainment, shopping, and community events.”

It’s unclear who will fund the project, however. “If we construct a state-of-the-art stadium, we will not seek taxpayer funds, locally or otherwise, for the structure,” the letter said. But the team does expect public funding assistance for infrastructure related to the project, like roads.

Illinois Gov. JB Pritzker said he isn’t in favor of a stadium development plan that would provide tax relief for the team. The Bears suggest the project will bring $9.4 billion in economic impact to the area.

Teams

Tottenham Owners Reportedly Not Interested in Selling

THFC

It looks like Tottenham Hotspur is not on the market after all.

Following reports earlier this week that MPS Sports Capital was preparing a $3.75 billion bid for the Premier League club, the BBC reported that Tottenham owner ENIC Group isn’t interested in selling and is committed to the club’s long-term plans.

Tottenham is, however, thought to be in discussions with investors about stadium redevelopment.

Sky Sports reported that MPS, which has stakes in the X Games, McLaren Racing, and several other soccer teams, has not even approached Tottenham.

ENIC Group, which is owned by British billionaire Joe Lewis, controls 86.58% of the club.

Despite injecting $187 million into the team in May 2022, the owners have faced criticism for a lack of investment.

“Since opening in the stadium in April 2019, we have spent more than [$600.4 million], putting us in the top quartile of spending in the Premier League — and we have made significant investments in the women’s team, too,” the Spurs said earlier this month in response to a letter from the Tottenham Hotspur Supporters’ Trust.

Real Estate

MLB Commissioner: Las Vegas the ‘Focus’ for A’s

Stan Szeto-USA TODAY Sports

MLB commissioner Rob Manfred revealed that the Oakland A’s have used the transition period in Oakland’s government to further explore their options in Las Vegas.

“The focus [since December] has been on Las Vegas,” Manfred said at a press conference Wednesday, noting that new Oakland mayor Sheng Thao — who was sworn in on Jan. 9 — needed “time to get settled” before fully engaging on the stadium negotiations with the team.

The A’s are in talks on two potential stadium sites in Las Vegas: the Bally’s-owned Tropicana site and billionaire Phil Ruffin’s Las Vegas Festival Grounds. 

Manfred referred to Oakland’s infrastructure funding as a “threshold issue.”

The team and city have negotiated a framework in which the A’s would pay for a new ballpark and surrounding housing, parks, retail, and office — which would cost an estimated $12 billion. The city would pay for infrastructure improvements in the surrounding area.

Oakland officials have said that they have already been granted $375 million in funds toward the project and outstanding grants for another $100 million. The city could also issue a limited-obligation bond for $150 million. 

Leagues

Chinese Super League Requires Women’s Club Teams For Entry

FIFA

Chinese Super League clubs are now required by the Chinese Football Association to establish a women’s soccer team in order to participate in the upcoming season, start date to be determined.

“This women’s team should take part in the Chinese Women’s Super League or the second- and third-tier league,” Xinhua News Agency reported.

A similar requirement was implemented during the 2019 season, when the CSL had 16 teams. It now has 18, though four folded over the last four seasons.

In October, the General Administration of Sport — China’s national sports agency — announced ambitions to host the FIFA Women’s World Cup in 2031.

China is the current AFC Women’s Asian Cup Champion, a title the country has won nine times since 1986. Its women’s team is ranked 14th in the world and will participate in the Women’s World Cup later this year.

Earlier this week, the CSL renewed its title sponsorship agreement with insurance company Ping An in a reported one-season, $14.7 million deal. Ping An has been the title sponsor of the league since 2014.

Conversation Starters

  • A judge has ruled that Saudi Arabia’s Public Investment Fund and PIF’s governor, Yasir Al-Rumayyan, are subject to subpoena requests from the PGA Tour.
  • The most viewed NBA All-Star Game ever was in 1993 in Salt Lake city, pulling in 22.91 million viewers on NBC.
  • ESPN+ offered subscribers exclusive coverage of Tiger Woods’s first-round play at the Genesis Invitational on Wednesday and will do so for most or all of Woods’ round on Friday.
  • The New York Red Bulls are set to build the “premier training complex in all of Major League Soccer.” Take a look.
Front Office Sports Today

They Said What?

MLB Commissioner Rob Manfred speaks to the press.

Patrick Breen/USA TODAY NETWORK

“We are prepared no matter what happens … to make sure that games are available to fans in their local markets.”

-MLB commissioner Rob Manfred on the league potentially taking over broadcasts if Diamond Sports Group goes bankrupt and cannot afford to pay MLB teams for local media rights.

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