McCaskey dead, is this good or bad for the Bears?

[SleeperCards]

Any Bears fans that can chime in?

[Asian62150]

RIP Virginia.

It’s a good thing for Da Bears if it leads to the family selling controlling interest.

[packman80]

I have questioned this before. Saying after Virginia had passed would the family consider to sell the team? They made there money off owning the team and would they look to cash out now that she has moved on? I would guess there will be some of her kids that will now get shares of the team that will be interested in selling.

[Grid]

RIP Mama Bear.

Patrick Ryan owns 20% of the Bears. That was Mugs Halas (Georges son) share. Mugs died before his dad, and those shares went to his kids. Mugs widow sold them 35 years ago to Ryan.

The other 80% was split between Virginia (she had 20%) and her 11 kids. And when her kids died, those shares fell to their kids.

The McCaskeys are rich. But not NFL owner rich. Since they all had to share in any revenue. And most of their wealth was tied to the team. Meaning, they wont be rich rich until they sold.

They want to sell. They would never sell Virginia's fathers team out from under her. She was the one that wouldn't sell. Now that she is gone, I expect a new owner soon. As they have had a short list of buyers for a while now.

The owners meeting is at the end of March. I would bet the McCaskeys hand over a list of potential buyers at that time. For their fellow owners to agree on.

Which is one of the reasons the team has dragged its feet building the stadium. They never had the money or intention to actually do it. But they needed the deals cut with the city or state for financing. To then sell that as well, to the next owner.

[Grid]

Originally Posted by packman80

I have questioned this before. Saying after Virginia had passed would the family consider to sell the team? They made there money off owning the team and would they look to cash out now that she has moved on? I would guess there will be some of her kids that will now get shares of the team that will be interested in selling.

The team went in to a trust the day Halas died. That way, Virginia did not have to pay the inheritance tax on the teams value. Which even in 1983, was about $75MIL. And the tax would have been a third of that. Cash she did not have.

The trust has never changed. I outlined that above. Her kids have had ownership in the team, since they day they were born.

[boxbuster7]

I thought the heel wrote that title

[packman80]

Originally Posted by Grid

RIP Mama Bear.

Patrick Ryan owns 20% of the Bears. That was Mugs Halas (Georges son) share. Mugs died before his dad, and those shares went to his kids. Mugs widow sold them 35 years ago to Ryan.

The other 80% was split between Virginia (she had 20%) and her 11 kids. And when her kids died, those shares fell to their kids.

The McCaskeys are rich. But not NFL owner rich. Since they all had to share in any revenue. And most of their wealth was tied to the team. Meaning, they wont be rich rich until they sold.

They want to sell. They would never sell Virginia's fathers team out from under her. She was the one that wouldn't sell. Now that she is gone, I expect a new owner soon. As they have had a short list of buyers for a while now.

The owners meeting is at the end of March. I would bet the McCaskeys hand over a list of potential buyers at that time. For their fellow owners to agree on.

Which is one of the reasons the team has dragged its feet building the stadium. They never had the money or intention to actually do it. But they needed the deals cut with the city or state for financing. To then sell that as well, to the next owner.

I thought I read one that the minority owner has a right of first refusal if and when they sell the team is that correct? If so could he put a group together to buy the rest of the team?

[Grid]

Originally Posted by packman80

I thought I read one that the minority owner has a right of first refusal if and when they sell the team is that correct? If so could he put a group together to buy the rest of the team?

Possibly. But Patrick Ryan is almost 90 himself. And while still a billionaire. I doubt he would want to invest all of his wealth into buying the other 80%.

The McCaskey kids, with the rule change last year, could sell their smaller shares now. Under the same rule that allowed Brady and his investment group to buy marginal shares of the Raiders.

But they know they will get more value, by selling the 80% as one chunk. Then selling their 5% shares on their own, to other groups.

Someone like Jeff Bezos would want the 80% and control of the board as an owner. And not have to deal with splitting anything amongst a bunch of other smaller share holders.

McCaskey's are good business people. Which is why they have held to sell all at once. Which i am thinking, will be very soon.

[SleeperCards]

Originally Posted by boxbuster7

I thought the heel wrote that title

Naw, just a guy scouting potential NFC team QBs.

[hairysasquatch]

Report just in that Bears have hired former Lions owner Sheila Ford Hamp to fill position of need.

[Ninotores]

The Bears will never get it together. Some things just never change.

[Grid]

Originally Posted by hairysasquatch

Report just in that Bears have hired former Lions owner Sheila Ford Hamp to fill position of need.

We are reaching out to Martha Firestone Ford. We only like it, when our woman owner is 100.

[packman80]

Would be funny if Aaron Rodgers would retire and join a group that would buy ownership of the Bears. Rodgers could actually then truly own the Bears.

[Ninotores]

Originally Posted by packman80

Would be funny if Aaron Rodgers would retire and join a group that would buy ownership of the Bears. Rodgers could actually then truly own the Bears.

His trolling skills are master level. I could see him do this.

[SleeperCards]

Originally Posted by packman80

Would be funny if Aaron Rodgers would retire and join a group that would buy ownership of the Bears. Rodgers could actually then truly own the Bears.

He has to do this, even if it's a small stake.

[Grid]

Originally Posted by packman80

Would be funny if Aaron Rodgers would retire and join a group that would buy ownership of the Bears. Rodgers could actually then truly own the Bears.

Everyone in the NFC North wants in on the Bears. The Vikings COO wanted in, so we made him President. The Lions OC wanted in, so we made him coach. Add Rodgers to the list. A better usage for his money, than blowing it all on ayahuasca.

The team has a standing offer from Jeff Bezos. And Warren Buffet's son, Howard Buffet, also wants in. Howard Buffet actually lives in Decatur IL. Where the team got started.

It will be sold to a single owner. Poor Rodge might not get the chance.

[Siberian13]

Originally Posted by boxbuster7

I thought the heel wrote that title