McCaskey Family’s Endgame? How New Stadium Is A Setup For Massive Bears Sale
We’ve long surmised that the reason George McCaskey and his family kick-started their efforts to get a new stadium built was that they were tired of residing in the smallest, most low-tech building in the NFL. Soldier Field might be an iconic landmark, but it has few of the amenities (and money-making opportunities) that more modern stadiums enjoy today. After the Chicago Park District rebuffed their attempts to upgrade Soldier Field in 2021, they placed a bid on Arlington Racecourse in Arlington Heights, starting their pursuit of a new home.
Apparently, there was a far bigger conspiracy at play. It has been rumored for the past few years that the McCaskey family might consider selling the team after Virginia’s death. Many of the younger generation aren’t interested in continued ownership and have been pushing to sell. Publicly, George has made it clear this is not the plan. However, Bears insider Jeff Hughes of Sports Mockery has heard differently. Many high-level people in the NFL think the McCaskeys will sell. Other owners want them to wait, though.
Why? They want to push the valuation of the franchise north of $9 billion. Last year, it sat at around $8.2 billion according to Forbes. Imagine what a brand new stadium will do for that number.
The McCaskey push for a new stadium now makes way more sense.
Remember, the family is among the NFL’s poorest owners. All of their worth is wrapped up in the Bears. A sale could have them walk away with maybe $10 billion and never have to deal with the headache of running the franchise again. George turns 70 years old this year. His brother Patrick is 76. They’re both reaching a point where they don’t have the mental energy to handle owning the team, and we’ve already established that many in the younger generations aren’t interested. History shows family-owned businesses are almost always sold by the third generation.
A new stadium is a common page in the playbook of owners looking to sell. It enhances a franchise’s appeal because state-of-the-art complexes have proven effective for long-term revenue generation. Younger owners can reap the rewards, while departing owners receive a golden nest egg for retirement. George may continue to insist there will be no sale, but all the warning signs are there. Why the sense of urgency to get started on construction unless you’re anxious to start the sale process before age catches up?
| Year | Team | Buyer | Sale Price |
|---|---|---|---|
| 2023 | Washington Commanders | Josh Harris Group | $6.05 Billion |
| 2022 | Denver Broncos | Walton-Penner Group | $4.65 Billion |
| 2018 | Carolina Panthers | David Tepper | $2.275 Billion |
| 2014 | Buffalo Bills | Terry & Kim Pegula | $1.4 Billion |
Finding a seller won’t be difficult at all.
The Chicago Bears are one of the most recognized sports brands in the world. They’ve existed for 125 years and carved out a legacy that every football fan knows. They reside in the third-largest media market in the country, with one of the largest fan bases in the sport. On top of all that, it now appears they have a head coach and quarterback combination prepared to bring them newfound success over the next several years. There is no way a prospective owner wouldn’t want to buy into that immediately.
Obviously, the question becomes who will make the purchase. There have been many rumors about big names like Jeff Bezos, Mark Cuban, and even Elon Musk. It’s worth noting that Pat Ryan, who has been a part-owner for decades, has the right of first refusal on any sale. He doesn’t have the money it would take alone ($8.1 billion net worth), but it wouldn’t be difficult for him to put together a collection of investors if that is what he wants.
It’s worth noting that Lukas Walton, the nephew of Walmart magnate Rob Walton, is based in Chicago and is estimated to hold $39 billion. His uncle already owns the Denver Broncos. Maybe that is one to watch as well.