July 10, 2019 Comments Off on MLS’ Chicago Fire Reaches Agreement to Exit Stadium Lease Views: 1294 Chicago News, Top Chicago

MLS’ Chicago Fire Reaches Agreement to Exit Stadium Lease

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The Chicago Fire Soccer Club has reached a $65.5-million agreement with the Village of Bridgeview, IL to break its 30-year lease at SeatGeek Stadium, where the Major League Soccer franchise has been based since 2006. The deal paves the way for a move to “a more centrally-located Chicago stadium,” team owner Andrew Hauptman said Tuesday.

The amended stadium lease includes a significant contribution from the Fire toward development of a multi-sport recreation and entertainment center and higher annual lease payments. It also allows the team to play future home games and conduct operations in other Chicagoland sports venues beginning in 2020.

In May, Village Board members unanimously approved a memo of understanding that would release the Fire from the lease, and help Bridgeview pay off the sizable debt it has amassed from financing SeatGeek Stadium. The village has about $260 million of general obligation, tied mainly to the stadium.

Pictured: SeatGeek Stadium

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