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  5. ›Bears Permit Operating Agreement

Awarded contract·Chicago Park District (CPD)·Illinois

Bears Permit Operating Agreement

Won by Chicago Bears Football Club, Inc.$177.6MSingle Award
Contract source

Awarded vendors

  • Chicago Bears Football Club, Inc.

Description

The Bears Permit Operating Agreement is a contract between the Chicago Park District (CPD) and the Chicago Bears Football Club, Inc. for the use of Soldier Field. The contract outlines the terms and conditions of the agreement, including the use of the facility, parking, and signage. The contract also establishes the rights and obligations of both parties, including the payment of fees and the provision of services. The agreement is for a term of 32 years, with the option to renew. The contract value is not explicitly stated, but it can be estimated based on the fees and payments outlined in the agreement. Key points of the contract include: * The CPD grants the Club the right to use Soldier Field for NFL games and other events * The Club is responsible for paying fees, including a facility fee and a parking allotment fee * The CPD is responsible for providing services, including maintenance and security * The contract outlines the terms and conditions for signage and advertising at the facility * The contract establishes the rights and obligations of both parties, including the payment of fees and the provision of services

Attached files

Key dates

Starts
8/1/2001
Ends
12/31/2033Renews
Duration
32 years

Last updated

Details

Award type
Single Award
Industry
Broadcasting and Media
NAICS
711310
Solicitation №
7740

Contract value

$177,600,000

The contract value can be estimated based on the fees and payments outlined in the agreement. The facility fee is $470,000 per game, and the parking allotment fee is $20 per parking space. With 4,250 parking spaces, the total parking allotment fee is $85,000 per game. The total permit fee is the sum of the facility fee and the parking allotment fee, which is $555,000 per game. With 10 games per season, the total annual contract value is approximately $5,550,000. Over the 32-year term of the contract, the total contract value is approximately $177,600,000.

AI estimate from the award documents

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