The city is meeting tomorrow to discuss buying the chicago bears

Tee

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What a dumb ass idea. Who elected this idiot. Why would he think the Bears are for sale. This franchise has been in the same family for 100+ years. Sun-Times has lost all credibility with me from another bonehead article.

Hey I got a idea for you Chicago Politicians. Why not go buy the Cardinals and move them back to Chicqgo....lol stupid ass aldermen should be worried about how they can reduce the crime and murders taking place in their neighborhoods.
 

Zion

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This is a tough one. On the one hand you have state ownership of a business, and we know how that goes. On the other hand, we have the McCaskeys.

Yeah wow. That's tough.
 

Canth

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Everyone is missing the obvious.

The city of Chicago CAN'T AFFORD to buy the Bears. They don't have the money....

Actually, the more obvious point is that the NFL wouldn't allow the sale anyway. They changed the ownership rules back in the 1980's. Green Bay's ownership model was grandfathered in as a special case. No other franchise would be allowed to be a publicly owned situation. There has to be at least one person that has to own a minimum of 30% of the team.

There are a couple of other franchises in a weird place right now on the ownership front where they are trying to establish that 30% stake. The Broncos are one with which Bowlen, if any, can get the ok to buy that much and whether they have the funds to do so anyway. Tennessee had a bit of deal that finally got resolved just last year.

What will be interesting for the Bears when Virginia eventually dies is: Did she designate a family member to inherit the franchise? Will it stand up in court? Can they afford the estate taxes?
 

Angry Boomer

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BringBackDitka54

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Spartan

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If you though the Bears were run badly you'd be surprised how bad the City of Chicago is run.
Surprised? Not so much

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jsu34

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That's the funny thing when I read it. They said hey, you don't know how to run the team...let us take it off your hands and do all the work. Bitches please. We all see how well you do running the city. Stay away from my Bears.
What? For reals? Bears are being run well now?
 

Hawkeye.

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I think the Bears should sell the team via raffle.

5k to get a ticket, buy as many as you want. One winner takes all.
Let's say they want $5B for the team. That's only 1,000,000 entries. I'd take those odds lol

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Mighty Joe Young

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At this point, I am going to guess that the Alderman knew that the City can't afford it and the NFL won't allow it - and he just wanted the press attention, or had some other ulterior motive.
 

Ares

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Everyone is missing the obvious.

The city of Chicago CAN'T AFFORD to buy the Bears. They don't have the money....

Yeah cause our local/State/Federal govts never figure out how to spend money they don't have to do something stupid they shouldn't be doing.

Never happens.
 

Pegger

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Seriously? Let's walk through this logically.

You want the city of Chicago to pay ~$4.08 Billion to own the Bears, just so they can resell it to Bears fans?

The population of Chicago is ~2.71 Million, so each person would pay an extra ~$1500 in taxes just so they can later have the opportunity to buy shares of the team? Sure the city will recoup it's original ~$4.08B, but that would still be a lot of money reallocated and locked up for what is a useless move.

After all that is done what have you accomplished? You'll end up having a ownership structure like the Packers and probably have a GM you guys like just about as much as Brian Gutekunst.

Almost all NFL teams' fans hate their leadership including the city owned Packers.

Just keep it the way it is.
 

Ares

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Seriously? Let's walk through this logically.

You want the city of Chicago to pay ~$4.08 Billion to own the Bears, just so they can resell it to Bears fans?

The population of Chicago is ~2.71 Million, so each person would pay an extra ~$1500 in taxes just so they can later have the opportunity to buy shares of the team? Sure the city will recoup it's original ~$4.08B, but that would still be a lot of money reallocated and locked up for what is a useless move.

After all that is done what have you accomplished? You'll end up having a ownership structure like the Packers and probably have a GM you guys like just about as much as Brian Gutekunst.

Almost all NFL teams' fans hate their leadership including the city owned Packers.

Just keep it the way it is.

It makes zero sense why this would happen.

So I feel confident saying, they will figure out some really fucked up financing, but they may well force it to happen.

And Cook County residents will pay for it.
 

gocbears

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This whole thing seems to be political grandstanding & extremist speculation. I don't recall hearing the majority owners (McCaskey's) have put their share of the team up for sale. Additionally, without having personal knowledge of the partnership details, wouldn't the minority share holders have first right to purchase any potential available share of the team?

In short, just political click bait to distract from poor elected governance?
 

Robocop 80

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Hmmmmmm.........that would be interesting. To afford/maintain the team, city residents would have to pay $150 a month for trash and recycling, $300 fines on red light and speeding cameras, a 100% tax on cigarettes.......... I didn't even click to look at that shitty idea.
 

NCChiFan

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I would be shocked if the Bears Halas children are not locked into a very tax favorable trust that completely avoids death taxes like the trusts the Rockefeller and Kennedy clans have.
 

Mighty Joe Young

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I would be shocked if the Bears Halas children are not locked into a very tax favorable trust that completely avoids death taxes like the trusts the Rockefeller and Kennedy clans have.

Here's the thing - I would be. Because as much as the McCaskeys come off like that level of rich, they really aren't, despite owning a football team. Most NFL owners were super rich before buying an NFL team, and therefore many run it as cutthroat as they would their businesses. This is their rich people's toy, and they want to win to stroke their own ego.

The McCaskeys are upper-middle class, who yes, have profited off the Bears, but take all 32 teams away from all 32 owners (actually 31, since Green Bay doesn't have an "owner" per se), and you would find the McCaskeys at the bottom of everyone in terms of net worth - FAR below.

And it shows in how they manage the Bears as well - the knock on the McCaskeys since forever is that they run the Bears like a small business mom and pop shop. Frankly, it's why they likely are so enamored with Pace - he helped modernize them to a large extent.

But the thing of it is, the type of generational weath you associate with owning a football team - the McCaskey's don't have it. And the kids want it. Its why I believe that ultimately, they WILL sell the team - the kids don't want to run the Bears and would rather have the cash, because then that IS generational weath because it is finally liquid, and not tied to assets.

The kids want to cash out and let the next uber-rich guy make the Bears his own toy....
 

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