OT - Virginia McCaskey Died

[its_the_sauce]

102 YO

At least she got to see Bears beat the Pack one last time.

 

[mickbula]

Will they sell the Bears now?

 

[its_the_sauce]

Will they sell the Bears now?

Hopefully they got the estate planning done this time unlike when George Halas died.

 

[zbag51]

Does Pat Ryan have the opportunity to become the majority owner? I thought i remembered hearing he would be able to buy the bears when she passed away.

 

[its_the_sauce]

Does Pat Ryan have the opportunity to become the majority owner? I thought i remembered hearing he would be able to buy the bears when she passed away.

He does get first dibs IF the McCaskeys decide to sell (which I seriously doubt).

 

[Hungry Jack]

Will they sell the Bears now?

Not "now", but I certainly have the sense that the McCaskey kids don't have a lot of interest in owning an NFL franchise. And the Bears, despite their ineptitude, are a huge prize when it comes to pro sports franchises. It is arguably the most underperforming (financially) franchise in the NFL.

 

[zbag51]

He does get first dibs IF the McCaskeys decide to sell (which I seriously doubt).

Got it, thanks

 

[corbi296]

Will they sell the Bears now?

Not right away, but I think it is more likely than not in a year or two after they have finalized plans for a new stadium to be built. The Bears ownership structure is convoluted with many members of the extended Halas family owning 4-5% shares. The structure is actually grandfathered in by the NFL as it does not meet the League’s minimum equity ownership threshold by the managing partner. I believe Mrs McCaskey’s death may trigger the requirement to rectify this and unless George can figure out a way to raise the proceeds necessary to buyout some of the minority owners in the family, a sale of a controlling interest may be the only way out. Will be interesting to see if Pat Ryan exercises his long rumored right of first refusal.