Virginia McCaskey Health Rumors

Bust

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“VIRGINIA MCCASKEY IS NOT WELL. AND THINGS INSIDE THE MCCASKEYS ARE NOT EITHER. THE FAMILY HAS RARELY BEEN IN THIS MUCH TURMOIL OVER THE LAST THIRTY YEARS AND THERE ARE SOME CLOSE TO THE ORGANIZATION WHO BELIEVE A SALE MIGHT ACTUALLY BE ON THE TABLE ONCE VIRGINIA PASSES.”

That's what will's are for, duh
 

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“VIRGINIA MCCASKEY IS NOT WELL. AND THINGS INSIDE THE MCCASKEYS ARE NOT EITHER. THE FAMILY HAS RARELY BEEN IN THIS MUCH TURMOIL OVER THE LAST THIRTY YEARS AND THERE ARE SOME CLOSE TO THE ORGANIZATION WHO BELIEVE A SALE MIGHT ACTUALLY BE ON THE TABLE ONCE VIRGINIA PASSES.”

That's what will's are for, duh
Kind of sounds like what I've been telling you guys for the past 5 years.
 

Bust

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Kind of sounds like what I've been telling you guys for the past 5 years.

Preaching what? The will already has stipulations in fine print who is going to take main ownership and if a sale is allowed or not.
 

Gustavus Adolphus

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Preaching what? The will already has stipulations in fine print who is going to take main ownership and if a sale is allowed or not.
I know someone who knows George and he's said that of the 125 (or thereabouts) McCaskey's who have ownership a majority of them want to cash out once Ginny kicks the bucket.
 

gobullschi

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I know someone who knows George and he's said that of the 125 (or thereabouts) McCaskey's who have ownership a majority of them want to cash out once Ginny kicks the bucket.
It only takes a couple of the McCaskeys to get the money to buy-out the family members who want to cash out.

There is an entire financial industry that specializes in these situations. There would need to be some serious bad-blood in the family to complicate this situation.

People who want to cash out doesn’t necessarily mean anything.

It has more to do with paying taxes. There’s a giant transfer of wealth happening here.
 

Midwaymonster75

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Battle? Shes 99 years old! Its been time for her to go and i dont mean that in a mean way. When your that old it hurts to do anything. YOu think you feel like shit when you get up in the morning at 50? Try it in your 90s. Youll be begging for the sweet release of death. My grandmother passed a few months ago at 96 and she was miserable over the last several years. Her skin would rip, her bones ached and peeing felt like she was passing razor blades through pudding. No thanks! I dont think any of us will see 90 with nuclear war about to pop off any minute now so no worries. We`ll die young, tanned and sexy.
 

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Wish the lady the best as a human being.


Yet, it would be a TOTAL BEARS ORG move to NOT have their plan figured out BY NOW on what will happen once she passes. Sounds about right that the kiddos may be squabbling.
 

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Battle? Shes 99 years old! Its been time for her to go and i dont mean that in a mean way. When your that old it hurts to do anything. YOu think you feel like shit when you get up in the morning at 50? Try it in your 90s. Youll be begging for the sweet release of death. My grandmother passed a few months ago at 96 and she was miserable over the last several years. Her skin would rip, her bones ached and peeing felt like she was passing razor blades through pudding. No thanks! I dont think any of us will see 90 with nuclear war about to pop off any minute now so no worries. We`ll die young, tanned and sexy.
A very poignant post......my mom past at 95 in 2020 and the last couple of years were tough on her. I'm 30 years YOUNGER than Mrs. McCaskey and the first 10 minutes after I wake in the morning can be a chore. Can't imagine at 99! One of the things that I pray for, is The Lord call me "home" when I can't take care of myself any longer. I don't want to burden anyone. Life's tough enough on all of us. I don't want to be the cause of taking up someone's time. BTW......your quote "We'll die young, tanned & sexy".......... I don't fall into ANY of those categories!.........lol......
 

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Battle? Shes 99 years old! Its been time for her to go and i dont mean that in a mean way. When your that old it hurts to do anything. YOu think you feel like shit when you get up in the morning at 50? Try it in your 90s. Youll be begging for the sweet release of death. My grandmother passed a few months ago at 96 and she was miserable over the last several years. Her skin would rip, her bones ached and peeing felt like she was passing razor blades through pudding. No thanks! I dont think any of us will see 90 with nuclear war about to pop off any minute now so no worries. We`ll die young, tanned and sexy.
If we get nuked...we won't be very sexy but we will all definitely be tanned.
 

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A very poignant post......my mom past at 95 in 2020 and the last couple of years were tough on her. I'm 30 years YOUNGER than Mrs. McCaskey and the first 10 minutes after I wake in the morning can be a chore. Can't imagine at 99! One of the things that I pray for, is The Lord call me "home" when I can't take care of myself any longer. I don't want to burden anyone. Life's tough enough on all of us. I don't want to be the cause of taking up someone's time. BTW......your quote "We'll die young, tanned & sexy".......... I don't fall into ANY of those categories!.........lol......

God isn't real.
 

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Preaching what? The will already has stipulations in fine print who is going to take main ownership and if a sale is allowed or not.
Can you show us said will and the fine print. I can’t find it anywhere on the internet
 

vanavyman

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It only takes a couple of the McCaskeys to get the money to buy-out the family members who want to cash out.

There is an entire financial industry that specializes in these situations. There would need to be some serious bad-blood in the family to complicate this situation.

People who want to cash out doesn’t necessarily mean anything.

It has more to do with paying taxes. There’s a giant transfer of wealth happening here.
Problem with that theory is there is not that much real cash on hand that one member will have. The NFL only allows so much of the Franchise to be held in debt. You can't just borrow 4 Billion and buy out the rest of the family. One member of the family might be able to stay on as a minority owner but why. They should cash out. With the land purchased for the new stadium it makes the Bears one of the most valuable franchises in the NFL. Should sell for 3-5 Billion, maybe more if a bidding war.
 

gobullschi

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Problem with that theory is there is not that much real cash on hand that one member will have. The NFL only allows so much of the Franchise to be held in debt. You can't just borrow 4 Billion and buy out the rest of the family. One member of the family might be able to stay on as a minority owner but why. They should cash out. With the land purchased for the new stadium it makes the Bears one of the most valuable franchises in the NFL. Should sell for 3-5 Billion, maybe more if a bidding war.

I'm not a tax expert, but it is my understanding that the McCaskey's will need to come up with the cash to pay the 30% estate tax on the franchise when she passes away. I believe the land becoming available was a blessing for the McCaskeys because they can use the debt from purchasing all the land to offset some of the tax penalty. Again, I'm not exactly sure how this all works and I could be butchering this explanation.

They'll also be able to parcel some of the land and resell or lease it for capital or an additional revenue stream to help get the financing required to buy-out any family members that want to cash-out. It just makes it all complicated and I believe it would be best for the McCaskey family to have all this worked out before she passes.

As for the NFL setting limits about how owners can manage their asset - I'm not aware of any of those rules - so I can't speak to that. It sounds unlikely.
 

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