Chicago Alderman Suggests A Top 5 Ridiculous Plan In The History Of Illinois Politics
Don't ask me to list the other 4 in the top 5 but this has to be on that list.
George Cardenas is the Alderman for the 12th Ward in Chicago and also Mayor Lori Lightfoot's City Council Floor Leader. Now I don't know what a City Council Floor Leader is but hopefully it doesn't include critical thinking.
Alderman Cardenas really wants the Chicago Bears to stay in Chicago and not move to Arlington Heights where they will build their own stadium on the Arlington Heights Racetrack property. This is a move that is supported by pretty much everyone in Illinois. It is truly one of the only bi-partisan fully-backed opinions in the state.
Mayor Lightfoot has been very vocal about keeping the Bears in Chicago. No one is really listening to her about it but it hasn't stopped her from being vocal. Maybe that is why Alderman Cardenas decided to throw out his idea of the city buying the Bears and selling "shares" of the team to the city.
There are a number of things wrong with this idea but one of the more embarrassing things is the part where he wants to sell shares of the team to fans. This is exactly what the Green Bay Packers have done and just began selling shares again earlier this week. It's like Alderman Cardenas saw that headline and just added it to his plan. Like the kid copying answers off his neighbor for the History test. It's not only a bad idea, but it's a bad unoriginal idea.
But let's get back to the city buying the team.
SunTimes - Ald. George Cardenas (12th) was undaunted by the fact that Forbes Magazine has said the Bears are worth more than $4 billion, a valuation 16% higher than last year.
That's right 4 billion with the proverbial "b" to buy the team. Last time I checked, I don't think the city of Chicago has (at least) 4 billion dollars to buy a football team. Also, I wouldn't trust this city to run a flag football rec league, let alone a professional sports franchise worth billions.
Which brings us to the next point. It's against the NFL bylaws.
The resolution notes that there “may be financial or legal barriers to the city acquiring an ownership stake in an NFL franchise — including NFL bylaws regarding ownership and potential issues regarding the city having a stake in a for-profit enterprise or in a gaming position.”
So it's an idea that no one wants, that the city can't afford, and is contractually not allowed?
Cue the music!