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Chicago Bears say they will proceed with plans for a stadium in Hammond
The team would keep stadium revenue and could buy the venue back after 40 years under the Indiana financing plan, officials said.
On Thursday, the Chicago Bears' Board of Directors voted to advance a stadium development project in Hammond, Indiana, positioning the NFL franchise to play home games out of state for the first time in its 106-year history.
The move follows the Illinois legislature's failure to approve a stadium incentive bill for the Arlington Heights site earlier this week, forcing the team to exhaust all viable options within Chicago.
Indiana lawmakers previously approved a $1 billion taxpayer-backed financing package for the project near Wolf Lake, allowing the Bears to construct a stadium without paying property taxes for decades.
Hammond Mayor Tom McDermott expressed confidence the franchise would select his city, while Indiana Governor Mike Braun welcomed the team, calling the project a massive regional economic boost.
Despite the vote, team officials cautioned that Hammond is not a guaranteed final destination; ESPN Senior NFL Insider Adam Schefter reported one source called it a "done deal.