Chicago Bears to acquire Arlington Park in PSA with Churchill Downs
Churchill Downs expects the deal to close in late 2022 or early 2023.
The NFL’s Chicago Bears announced a purchase and sale agreement with Churchill Downs Inc. (CDI) to acquire Arlington Park for $197m.
Arlington Park is a historic thoroughbred horse-racing track in Arlington Heights, Illinois, a suburb northwest of Chicago.
The Bears’ acquisition of Arlington Park indicates they intend to leave Soldier Field in Chicago and develop the 326-arce property.
Arlington Park held its final races last weekend, ending 94 years of horse racing at the facility after CDI did not apply to run new races in 2022.
CDI put Arlington Park for sale in February and concluded bidding for the property in June.
“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.”
Bears president and CEO Ted Phillips said, “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.”
He added, “”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.”
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
