White Sox seeking $1 billion subsidy for ‘The 78’ stadium project

Today, Chicago White Sox owner Jerry Reinsdorf is appealing the Illinois Governor's office for $1 billion in public funding for the team’s proposed new stadium at the site of the “The 78” development in the South Loop.

According to Crain’s, Gov. Pritzker has been dismissive of using tax dollars to fund the stadium but has yet to officially rule against the team’s efforts. Critics of the team’s subsidy request note that the White Sox are currently valued at over $2 billion according to Forbes.

The White Sox chairman and developers of the project, Related Midwest, have reportedly met with local leaders and business owners to garner support for the new stadium.

Reinsdorf and Related Midwest are aiming to gain support by arguing that the new stadium will pave the way for additional lucrative private investment at the 78 site. Other private investments could include mixed-use buildings, affordable housing, retail, bars and restaurants, and parks.