Would the McCaskeys ever be this bold?

JesusHalasChrist

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Except there's been attempts at a political hit job on him "Find me the man and I will find you the crime" type stuff.

So yeah - this stuff can quickly veer into politics. Especially with the majority of this stuff coming out after 2015....

If you're interested in the topic you should watch the 30 for 30 on the USFL. I know, I know. ESPN is LIBRUHL MSM DEEP STATE and so forth. But it was made several years before Trump was elected so there was no political angle.
 

Bearly

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Except there's been attempts at a political hit job on him "Find me the man and I will find you the crime" type stuff.

So yeah - this stuff can quickly veer into politics. Especially with the majority of this stuff coming out after 2015....
REPEAT! I didn't bring him up and stayed precisely on topic. Please do the same. It did not come out after 2015. Just got revamped once again in the public eye like anyone else. If you weren't aware of this before 2015 you were sleeping under a rock. Now I guess posters can claim politics whenever they don't like a post. My response had zero political implications.

Big story long before 2015. I know Salon is lefty news (didn't read and not here for that) but showing an earlier date on the net. Most coverages at the time the USFL failed were obviously other media formats. It happened in 86. It was a huge deal when it was usfl vs nfl and Trump was the vehicle. I suspect Didhereallysaythat may have actually been unaware as many younger posters may be. It was a horrible replacement owner reference.

 
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BearFanJohn

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Most of the Halas/ McCaskey clan make their living from the Bears in one way or another..They won't sell

There is a saying in family run businesses when you have too many people working.: “Too many pigs eating from the same trough“.

I think most (all) Bear fans would like the McCaskey’s to sell the team. I also think the same amount of people which they would hire a football guy to run the operation but that won’t happen as long as Virginia and Teddy are involved and alive.
 

Angry Boomer

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There is a saying in family run businesses when you have too many people working.: “Too many pigs eating from the same trough“.

I think most (all) Bear fans would like the McCaskey’s to sell the team. I also think the same amount of people which they would hire a football guy to run the operation but that won’t happen as long as Virginia and Teddy are involved and alive.
Captain Obvious
 

Mighty Joe Young

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I'd love to see that, but I wouldn't bet on it.
The family depends on that business

The kids of the McCaskeys (Michael, George, etc - their kids) - allegedly want NOTHING to do with running the Bears, and all want to cash out. That's been going strong for a very long time.

My bet is they sell once Ginny is done with this world.
 

Angry Boomer

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The kids of the McCaskeys (Michael, George, etc - their kids) - allegedly want NOTHING to do with running the Bears, and all want to cash out. That's been going strong for a very long time.

My bet is they sell once Ginny is done with this world.
I hope you're right
 

Pegger

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There is absolutely no reason to think the McCaskeys will ever be bold.

They were lucky enough to marry/be born into a successful business that makes a wack load of money every year. The only thing they know about the Chicago Bears is that it keeps them rich. Why would they get 'bold' and try to shake that up?
 

pdxbearsfan

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There is absolutely no reason to think the McCaskeys will ever be bold.

They were lucky enough to marry/be born into a successful business that makes a wack load of money every year. The only thing they know about the Chicago Bears is that it keeps them rich. Why would they get 'bold' and try to shake that up?
The answer is several billion in cash which is all a capital gain, cost was about $100.00 and no more abuse or ridicule.
 

WindyCity

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When the Bears are trending down...we get more unsubstantiated "they are going to sell the team" posts.

Why in God's name would they sell this cash cow?

If you owned an NFL team would you sell it? Or keep it in the family?
When Virginia dies there are like 20 people that will inherit and own the team.

A single McCaskey will no longer be the largest share holder.

What if a bunch want to cash out and do other things?

How are they going to pay a 2 billion dollar estate tax bill?
 

WindyCity

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When Virginia dies there will be like 14 McCaskeys who all own like 5% of the team each.

A bunch will want to take their 200 million and bounce. Fuck a dividends check every year when I can cash out 200 million right.
 

run and shoot

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Nothing about winning. Nothing about SB's. These ppl. are just interested in making money💰🤑
and keeping the generation wealth going.
 

remydat

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View attachment 15163

This is why Virginia’s death is sadly Bears fans best hope. I know they’ve said they have a plan but you can’t split the team equally under all the heirs. They have 10 kids I think.

The Bears shares controlled by VM are in testamentary trusts with the beneficiaries being the McCasky clan grandchildren. It is just that VM has been granted the right to vote on all the shares of the trusts hence she controls the voting rights of 80% of the shares despite not owning 80% of shares. The Bears were structured like this back in the 80-90s for estate tax purposes.

In addition if a beneficiary of the trust wishes to sell their shares, the trust haves have a right of first refusal. This came up in a lawsuit in the 90s when the 2 children of Halas Jr wanted to sell. Think they ended up selling at a valuatiom of 17.5m at the time and are probably pissed given their shares would be worth hundreds of millions now.

In short, when Virginia dies, one of the McCaskey's will become controlling owner able to vote the shares of the trust and thus meet the 30% requirement but the underlying beneficiaries of the trust can be any number of people. Unless all of them want to sell, more than likely any individual McCaskey member wanting out would just offer their stake back to the trust and the trust would buy it back and divy it up among the remaining McCaskey's. I believe the Trust Deed prevents the Trustee from selling against the will of the beneficiaries so VM or her replacement can't unilaterally sell.
 
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