Posted May 14, 2013

Report: Chicago mayor to announce $300 million DePaul stadium plan

Plans are in the works for a $300 million, 12,000-seat arena for DePaul University’s basketball teams to be built near downtown Chicago, reports the Chicago Sun-Times.

Chicago mayor Rahm Emanuel is expected to announce plans this week for DePaul University at McCormick Place – a proposal that will call on $100 million in taxpayer dollars. The team currently plays in the 17,500 seat AllState Arena, which opened in 1980.

There are also plans to build two mega hotels on the property in the hopes of aggressively growing convention and meeting business in Chicago.

The men’s basketball team finished 11-21 this season, have just six conference wins in the past three season and have not been to the NCAA Tournament since 2004.

More from the Sun-Times:

The tentative plan is for DePaul to commit $100 million to the project, for taxpayers to contribute another $100 million and for a naming rights sponsor to pick up the rest of the cost, a source with knowledge of the plan told the Chicago Sun-Times.

“The plans will pimp Chicago Bulls owner Jerry Reinsdorf’s attempt to lure the Blue Demons to the United Center and the new training facility he is building near the United Center,” one source told the Chicago Sun-Times. “This really ups the competition.”


4 comments
Park_Ridge_Boy
Park_Ridge_Boy

Why would the taxpayers want to pay $100 million for a place for De Paul to play basketball. Can't they play at Horner Park or maybe Lane Tech? Geeezzz, who wants to go see a college team win 1 and lose 2. De Paul's glory days were 35 years ago. Let the Catholic church pay for it since it's their school.

MRK
MRK

Awesome...um...I guess there's no plan about the astronomical murder rate in Chicago....thanks Rahm....

Huffy1680
Huffy1680

Since when do 12,000 seat arenas cost 300 million? That is a third of what the Vikings stadium is going to cost or is the 300 million for all of what they are going to build down there?

Milkywaygalaxy1
Milkywaygalaxy1

DePaul is joining the American Athletic Conference? I bet that's news to everyone at DePaul. Check your notes, boys.