What happened: The Chicago Bears board of directors has officially voted to advance a $5 billion domed stadium and mixed-use development project in Hammond, Indiana. This decision follows the conclusion of the Illinois legislative session, where the team failed to secure the property tax certainty and infrastructure funding required for their proposed site in Arlington Heights.

Why it matters: A move to Indiana would see the franchise relocate roughly 20 miles south of Chicago's Loop to a site near Wolf Lake. The Indiana framework, supported by state lawmakers earlier this year, includes the creation of a stadium authority to issue up to $1 billion in bonds for the project that has now become the team's priority.

What to watch: The team must now finalize a specific site agreement and enter a formal lease with the Northwest Indiana Stadium Authority.