Indebted Chicago Suburb Catches a Break With Naming Rights Deal
- Home of MLS’s Chicago Fire will be called SeatGeek Stadium
- Village of Bridgeview owes $260 million, largely due to venue
Fans watch as the Chicago Fire open their new stadium, Toyota Park, with a game between the Fire and the New York Red Bulls June 25, 2006 in Bridgeview, Illinois.
Photographer: Jonathan Daniel/Getty Images North AmericaThis article is for subscribers only.
SeatGeek is buying the naming rights to the 20,000-seat stadium that’s home to Major League Soccer’s Chicago Fire, a much-needed boost for a surrounding suburb that’s been crippled by debt related to the 12-year-old venue.
The village of Bridgeview, which owns the venue, had about $260 million of general obligation debt as of February, much of it tied to the stadium. It has doubled property taxes on its 17,000 residents and recently took on added debt to help cover revenue shortfalls from the venue.