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Home»Bears»Chicago Bears ownership dynamics to change as McCaskey family recons with taxes: Report
Bears

Chicago Bears ownership dynamics to change as McCaskey family recons with taxes: Report

Jordan SiglerBy Jordan SiglerMay 2, 20254 Mins Read
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Chicago Bears chairman George McCaskey walks into Soldier Field prior to a game between the Chicago Bears and Seattle Seahawks.
Dec 26, 2024; Chicago, Illinois, USA; Chicago Bears chairman George McCaskey walks into Soldier Field prior to a game between the Chicago Bears and Seattle Seahawks. Mandatory Credit: Talia Sprague-Imagn Images
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On Dec. 26, shouts for the McCaskey family to “sell the team” were loud as the Chicago Bears fell 6-3 to the Seattle Seahawks at Soldier Field during a Thursday night snoozefest. It was the tenth game in a row the Bears had lost.

Questions about the ownership of the Bears became very real when principal owner Virginia McCaskey died on Feb. 6. Chairman and owner George McCaskey and the rest of the McCaskey family are figuring out how to keep majority control of the Bears amid a heavy tax burden.

The McCaskey family is dealing with a tax burden

Chicago Bears chairman George McCaskey (C) listens as new head coach Ben Johnson answers questions during a introductory press conference at PNC Center.
Chicago Bears chairman George McCaskey (C) listens as new head coach Ben Johnson answers questions during a introductory press conference at PNC Center. Mandatory Credit: David Banks-Imagn Imagesconference

 

Per Peggy Kusinski of ESPN Chicago, the family is believed to have filed an extension on their inheritance and estate tax bill that was due April 15.

Because the family is not rich in assets besides ownership of the Bears, the family is expected to try and sell some of Virginia’s 22% ownership to pay the tax bill by next year. Patrick Ryan is expected to increase his shares of the Bears along with a group of outside investors that have no relation to the McKenna and Ryan families who own a minority share.

“They don’t have that kind of money coming in to pay those taxes,” Kusinski said on ESPN’s Waddle & Silvy this week. “Federal taxes will be due in nine months. So they have to take on new investors. So what I’ve been told is that Patrick Ryan’s been spending a lot of time at Halas Hall for the last six months.

“And he is likely going to be buying additional shares of the Bears, likely from Virginia, but it could also be from any of the other family members that just can’t financially even afford. Remember, guys, you don’t get any of that money until you pay the taxes.”

The Chicago Bears will still be owned by the McCaskeys

NFL: Chicago Bears Head Coach Ben Johnson Introductory Press Conference Chicago Bears Caleb Williams
Chicago Bears (R-L) President Kevin Warren, general manager Ryan Poles, new head coach Ben Johnson and chairman George McCaskey pose for photos after a press conference introducing Johnson at PNC Center. Mandatory Credit: David Banks-Imagn Images Introductory Press Conference

 

While Ryan and outside investors are expected to buy shares of the Bears, the McCaskey family will likely keep majority ownership.

“So they’re leaning on Patrick Ryan, who does have that, and if he doesn’t have it himself, he has access to it, because that’s the world that he is from. He understands that world,” Kusinski said. “The Andrew McKenna estate, the same way, but from what I’m told, it’s Patrick Ryan and his family that is really going to be putting together this group, and they will be minority shares.

“They will not become majority owners. So when George McCaskey says, we are not selling the team, the McCaskeys will remain the majority owners for sure.”

If the people they trust can help them pay their taxes.

NFL: Chicago Bears Head Coach Matt Eberflus Press Conference
 Bears Chairman George McCaskey speaks at a Press Conference to introduce new Chicago Bears-Head Coach Matt Eberflus and General Manager Ryan Poles Mandatory Credit: David Banks-USA TODAY Sports

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Follow me on Twitter at @JordanSig, and follow us @ChiCitySports23. You can also reach out to Jordan Sigler via email at jordanmsigler@gmail.com. To read more of our articles and keep up to date on the latest in ALL of Chicago sports, click here! Chicago Bears, Chicago Bulls, Chicago Cubs, Chicago White Sox, Chicago Blackhawks.

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BY Jordan Sigler

Jordan Sigler is a trending news writer for ChiCitySports.

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1 Comment

  1. Lens on May 2, 2025 5:39 pm

    Interesting!

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