Lolla Founder Says Music Fest Will be Around for Another Decade in Chicago

Lollapalooza kicked off yesterday and the massive events future in Chicago seemed to be in question as this is the last year of their official contract.  Well it seems like the fest isn't going anywhere anytime soon (via WGN):

Lollapalooza will call Chicago home for another decade. 

The festival’s creator, Perry Farrell, spoke with WGN’s Dean Richards on Thursday, the first day of the four-day festival. 

“The mayor has given us a 10-year extension in the park,” Farrell said. “So we’ll be around here for another decade.”

According to other news sources the deal hasn't been officially inked, but seems like there is mutual interest to keep one of the summers signature events in Grant Park.

While (likely) losing the Bears to Arlington Heights probably isn't closely linked to negotiations with Lollapalooza, it would be another black mark to Mayor Lightfoot if she lost Lollapalooza.  It's a huge boon for the downtown core - hotels, restaurants, events, etc - and it's to keep money flowing into downtown.