Chicago Bears focus for long-term development exclusively on Arlington Park, says President Ted Phillips

CHICAGO (WBBM NEWSRADIO) -- In their first public comments since the Chicago Bears agreed to buy the Arlington International Racecourse property, Chairman George McCaskey and President Ted Phillips said they have big plans.

George McCaskey said while they don’t own the property yet, they’re “exploring the viability of building a football stadium on that property. We’re excited. It can be an entertainment destination, with multiple facets to it that I think could really help put Arlington Heights on the map as a destination spot.”

He went on to say, “we saw this as an outstanding, long-term proposition with high potential for the Bears."

Closing wouldn’t be expected until early next year.

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"I think the best way to explain it is like anybody who’s bought a house, or a lot to build a house. There’s a time between when the property is under contract and closing, and during that time, there are a number of things that need to be done in terms of due diligence, (and) there’s a lot of due diligence that needs to be performed before we close," McCaskey said.

Of course, Mayor Lightfoot is intent on keeping the Chicago Bears in the city.

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Ted Phillips reiterated that the club is moving forward with the purchase of the Arlington International Racecourse property, adding again that the process could take "the rest of the year."

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“The closing on the land is probably going to take the rest of this year, maybe into the first quarter of 2023. And at that point in time, we will decide whether it’s financially feasible to try to develop it further,” he said. “I think what’s important now is that our focus for long-term development is exclusively on that property in Arlington Park.”

McCaskey said Phillips' main focus will be on the Arlington property, rather than assisting in finding replacements for Matt Nagy and Ryan Pace.

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