Billionaire Joe Mansueto is using his fortune to build a new stadium for his Chicago soccer team.

oe Mansueto commits $650 million to build a new soccer stadium for Chicago Fire FC at The 78, enhancing Chicago’s sports landscape and community investment.

The founder of Morningstar Inc. and owner of Chicago Fire FC said Tuesday he will personally fund a \$650 million stadium to be built at a 62-acre development south of downtown called The 78. Set to open in 2028, the stadium will be able to accommodate 22,000 spectators.

The move comes as several of Chicago’s sports teams, including the Bears, have requested state funds to build new stadiums. Governor JB Pritzker, who is facing growing budget pressures amid potential federal funding cuts from the Trump administration, has stated that teams must show a clear benefit to taxpayers in order to be considered for any public funding.

“While I never set out to own a professional sports team, when the chance came to purchase the Chicago Fire in 2018, I couldn’t pass it up,” Mansueto said in an open letter to Chicago residents. “Soccer is the world’s game and a world-class city like ours deserves a world-class club — with a world-class home to match.”

Chicago Fire’s new stadium, funded by owner Joe Mansueto, will break ground by 2026 and open in 2028, addressing scheduling challenges at Soldier Field and boosting local development.

In 2019, Mansueto completed the full purchase of the Fire of Major League Soccer in a deal that valued the team at about \$400 million. He then spent \$65 million to move the club back to Soldier Field, where the Bears play, from a stadium in Bridgeview. However, playing at a National Football League stadium has proven difficult, with the Fire having to move several games each year to accommodate the Bears’ schedule.

Construction of the new open-air stadium is scheduled to begin later this year or in early 2026.

“This project is more than just a stadium,” Mansueto said. “It’s about investing in Chicago, not just on match days, but every day as a committed community partner.”

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