Bears Sign Purchase Agreement for Arlington

[Wandering Eyes]

The Chicago Bears have officially signed a purchase agreement for Arlington International Race Course in Arlington Heights, Illinois, according to a press release from the Village of Arlington Heights.

“The Chicago Bears and Churchill Downs Incorporated signed a purchase and Sale Agreement (PSA) this week for the entire Arlington Park land parcel in the Village of Arlington Heights,” the release reads. “The Bears, Churchill Downs Incorporated and the Village of Arlington Heights released the following statements regarding the latest step in the sale of the property:

“We are excited to have executed a Purchase and Sale Agreement (PSA) for the Arlington Park property,” the release quotes Bears President and CEO Ted Phillips as saying. “We are grateful to Churchill Downs Incorporated for their efforts to reach this point. We also appreciate the support of Mayor Tom Hayes and the Village of Arlington Heights. Finalizing the PSA was the critical next step in continuing our exploration of the property and its potential. Much work remains to be completed, including working closely with the Village of Arlington Heights and surrounding communities, before we can close on this transaction. Our goal is to chart a path forward that allows our team to thrive on the field, Chicagoland to prosper from this endeavor, and the Bears organization to be ensured a strong future. We will never stop working toward delivering Bears fans the very best experience. We will continue to provide updates on our progress at the appropriate time.”

“This has been an extraordinarily competitive bid process,” said Churchill Downs Incorporated CEO Bill Carstanjen. “Congratulations to the Chicago Bears for their professionalism and perseverance. It is clear they are committed to an exciting vision for their team and their fans. We wish them the greatest success and are excited for the opportunity this brings to the Village of Arlington Heights and the future economic development of this unique property.”

According to WGN-TV, Chicago city officials say that the Bears may not necessary leave their current home at Soldier Field, where they still have several years remaining on their lease.

“We remain committed to continuing the work to keep the team in Chicago and have advised the Bears that we remain open to discussions. However, just as the Bears view this as a business decision, so does the City,” a mayoral spokesperson said in a statement to WGN News.

After nearly a century of horse racing, racing at Arlington Park come to a close on Saturday.

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