The Chicago Bears have signed a purchase agreement for Arlington International Racecourse, a move that takes the team a step closer toward securing property for a new stadium and leaving their longtime home at Soldier Field.

       On June 17, the Bears submitted one of multiple bids to purchase the Arlington Heights property, which Churchill Downs Inc. announced would be up for sale for redevelopment last winter.

       Bears President and CEO Ted Phillips said in a statement at the time that having a bid selected would allow the Bears “to further evaluate the property and its potential.”

       Soldier Field, which is owned by the Chicago Park District, holds 61,500 fans, the smallest capacity in the NFL. The Bears also would be able to develop the 326-acre land around the stadium with shopping, dining and entertainment.

       “It’s our obligation to explore every possible option to ensure we’re doing what’s best for our organization and its future,” Phillips said then.

       The Bears have called Soldier Field home since 1971 — but they have flirted with leaving the downtown stadium several times since ？

       A Bears official didn’t immediately return a request for comment early Wednesday morning on the purchase agreement, which was first reported by the Athletic.

       The Bears have played at Soldier Field since moving from Wrigley Field in 1971. They played the 2002 season at Champaign’s Memorial Stadium while Soldier Field underwent a $690 million renovation.

       The Bears’ lease at the stadium runs through 2033, and a Tribune investigation this summer found the team would have to pay $84 million in damages to the city if it breaks the lease in five years. The two sides likely would enter into negotiations to reach a financial settlement, Park District officials said.

       Chicago Mayor Lori Lightfoot said in a tweet Tuesday night that her administration “remains committed to continuing the work to keep the team in Chicago.”

       Lightfoot’s office released a separate statement from her saying she had been informed Tuesday night of the purchase agreement.

       “We are not surprised by this move. We remain committed to continuing the work to keep the team in Chicago and have advised the Bears that we remain open to discussions,” the statement said.

       “However, just as the Bears view this as a business decision so does the City. This season, Soldier Field signed a major contract with the Chicago Fire and just last weekend Soldier Field hosted the Shamrock Series - both of which are lucrative for the Chicago Park District and local economy. These examples and others demonstrate that Soldier Field remains a very sought-after venue, and, as the Mayor has said many times, overall, the City and Park District must explore all options to both enhance the visitor and fan experience at Soldier Field year-round and maximize revenues. Therefore, we must do what’s in the best economic interests of our taxpayers and maximize the financial benefits at the important asset that is Soldier Field. As for the Bears, the Mayor has said numerous times, our door in City Hall remains open to engage the Bears.”

       When the Bears first announced the bid, Lightfoot called it “a negotiating tactic” as the Bears sought improvements to Soldier Field.

       “And like most Bears fans, we want the organization to focus on putting a winning team on the field, beating the Packers finally and being relevant past October,” she added then. “Everything else is noise.”

       In 2020, the Park District entered into an agreement for Major League Soccer’s Chicago Fire to play at Soldier Field. The venue also is used for concerts and other major events.

       Arlington International closed its gates to horse racing for possibly the last time Saturday.

       Roy Arnold, former Arlington president and CEO of Endeavor Properties, told the Tribune earlier this month his group was one of three finalists in the running to purchase the property. That group intended to keep horse racing there, but Arnold suggested Churchill Downs was interested in limiting competition for Rivers Casino, the Des Plaines gambling venue in which Churchill Downs has ownership.

       Churchill Downs kept the bidding process quiet, declining to disclose what groups were among their multiple bidders.

       Large anchor tenant (the Bears?) and mix of other uses would work best on Arlington site, developers say ？

       But Arlington Heights mayor Tom Hayes expressed excitement in June about the team’s interest in exploring a move to the suburbs.

       “We welcome the Chicago Bears’ interest in the Arlington Park site,” Hayes said in a statement. “It is a one-of-a-kind location, and we are glad that the Bears ownership sees its tremendous potential. ... Whether the final purchaser is the Chicago Bears or someone else, our goal is to determine which concept will be most beneficial to Arlington Heights from a long-term economic and community-development perspective.”

       As that exploration continues, questions loom as to how the stadium would be funded. When Soldier Field was last renovated, taxpayers covered $432 million — a number that will grow when debt and interest are paid off.

       But building their own stadium and entertainment complex also would bring in new revenue streams. The Bears are playing at two of the NFL’s newest stadiums this season — the Los Angeles Rams’ and Chargers’ SoFi Stadium and the Las Vegas Raiders’ Allegiant Stadium — where they can get a closer look at what their future could hold.

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