Chicago Bears nearing landmark deal to build new $2 billion stadium after publicly threatening to leave state

The Chicago Bears are reportedly close to a landmark agreement to construct a new $2 billion stadium in Arlington Heights, Illinois, according to Crain's Chicago Business. The potential deal comes following recent threats from franchise executives to relocate the NFL team across state lines to Hammond, Indiana. A vote in the Illinois legislature regarding the project could take place as early as November.

Under the proposed legislation, a municipal authority would own and operate the venue without paying property taxes, leaving taxpayers responsible only for surrounding infrastructure. Minority owner Pat Ryan reportedly helped drive negotiations forward, while majority owner George McCaskey and CEO Kevin Warren had previously led relocation discussions before the recent progress.