Per Hub

He believes a Buy/Sell agreement is in place as to when Ginny dies Pat Ryan will be buying the majority of the shares of the Chicago Bears. he already owns 15%.

Hub believes estate taxes are estimated at $400 M, which is what they would need to be paid out.

OK, I kind of assumed this was going to happen, but did not think an agreement is in place as Hub claims and if this agreement is in place, why not just transact the sale now?

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

stepped up basis to the peeps who inherit--they won't have to pay any capital gains tax if they immediately flip after inheriting.

Hub has mentioned this before. Didn't say Ryan was gonna get it. Just that the McCaskey's can't afford that tax.

1. Really? They don't have 400 million between all of the McCaskey's. I don't believe that.

2. If they don't, wouldn't any bank give them a loan for the amount that they are short. Of course. I mean they own a 2 billion dollar franchise. That's what you call good collateral.

No doubt Ryan was going to make a run at it. he didnt buy 15% just for an investment.

The fact an agreement would be in place is really contrary to George mcCaskey comments about keeping this team for years and years and acknowledging they might need to take on some debt , as they have none.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Right. I know for a fact that the Packers cleared 40 million in profit last year as they have to make that public.

So if they're clearing 40 million, the Bears have to be close to double that. Maybe triple. I think they can afford the tax.

The NFL has blown up. It's a cash cow. You'd be stupid to sell it.

I know nothing about Pat Ryan. Would he be the anti-McCaskey?

Here's and article from 2013 where George McCaskey says they're keeping the team when Virginia dies.

http://articles.chicagotribune.com/2013-07-28/sports/ct-spt-0728-bears-chicago-sports-20130728_1_mccaskeys-bears-many-family-businesses

OLD NEWS and how some things never change:

Jan 30,1999 Crains

Virginia there isn't a Santa Claus.

To Virginia McCaskey -- daughter of Chicago Bears founder George Halas, mother of team President Michael McCaskey and controlling shareholder of the football franchise -- it only seems that way.

That's because, in a time of need for her -- and son, Michael -- two of Chicago's most-skilled businessmen came to her aid and made a deal few others would.

The tale begins in 1988. In order to prevent shares in the Bears from falling into unfriendly hands, the team purchased a 20% stake in the Bears from the estate of Virginia's late brother, George Halas Jr., better known as Mugs.

The deal strained Bears finances. Despite the fact that the team is a high-profile asset, it isn't a liquid one, and the McCaskeys needed cash. So, in 1990, they flipped the one-fifth stake to Patrick Ryan, chairman and CEO of insurer Aon Corp., and Andrew J. McKenna Sr., a prominent corporate director and CEO of Schwarz, a packaging and promotion company.

Over the next nine years -- culminating in last month's debacle over the hiring of a new head coach -- the McCaskeys have engaged in the ultimate insult: taking someone's money, but not taking their advice.

How else can one explain the decade-long mismanagement of one of the National Football League's prized franchises? One bungled attempt after another to get a new stadium. A systematic alienation of Bears fans and season ticket holders. And then the ultimate disaster -- Mike McCaskey's announcement that he had hired a new head coach, Arizona defensive coordinator Dave McGinnis, before the coach had accepted the offer.

Mr. McGinnis walked. The Bears and the McCaskey family looked like fools.

Messrs. Ryan and McKenna are no doubt as appalled as the average fan. They have both common sense and business sense. And they know the McCaskeys don't. These men know how to negotiate a big deal, how to hire right and how to run an organization. The McCaskey clan clearly doesn't, but refuses to accept counsel from the Ryan-McKenna ownership bloc.

That's why it's time the two businessmen get the McCaskeys' attention. It may be the only way there will ever be a fundamental change at Halas Hall. It's time for Messrs. Ryan and McKenna to give the McCaskeys an ultimatum: Sell to us, or buy back our shares.

The McCaskeys are unlikely sellers. But even the threat of Messrs. Ryan and McKenna peddling their 20% stake could force the Bears' ruling family to act. The McCaskeys would be forced to come up with at least $100 million to buy out the businessmen -- money they don't have and would need to borrow. And what banker is going to lend money on a business run by Mike McCaskey -- a nice man in the wrong job? What new investor will put up with the powerless equity position that Messrs. Ryan and McKenna have?

It's just bad business. Mr. McCaskey's inability to strike a stadium deal, for instance, has arguably trimmed $250 million off the team's value.

The McCaskeys have been lucky. They've had benevolent minority shareholders willing to wait for something good to happen. But nothing has. And it won't unless the Bears undergo a wholesale change.

Sports writers can't make that happen. Columnists can't. Nor can Bears fans. But Messrs. Ryan and McKenna can. It's time they stop playing Santa to the McCaskeys and start making the family realize that their investment isn't about charity. It's about business.

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Fucking hell, another mult?

Smug also said Coughlin is done in NY after this season, at which time Jason Garrett is your new Giants HC.

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-- source

Is Dallas firing him?

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Elections have consequences.

It seems like they might have it together. He's had plenty of chances to fire him before this year.

I believe Smug said Garrett's contract is up. He claims Jerry will offer him a new contract. Garrett will tell Jones to "go pound sand," then fly off to NY.

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-- source

Not to mention, when Ginny dies, they're also gonna get her money. You don't think the old lady doesn't have at least 100 million in a trust for all of her kids/grandkids? That would help to pay the tax.

NO WAY THAT ALL OF THE McCaskey's don't have 400 million combined. No way. Their money might be tied up and it would be smarter to get a loan, but Hub is an idiot. They can afford the tax.

The fact Ryan owns the 20% is old news and yes, it was always was assumed he will try and buy them.

I will google up some comments from George mcCaskey within this past year, where he made some very strong comments about his family holding the Bears for generations to come. That is about as opposite as one could be from the McCaskeys holding.

Additionally, for those who dont know, Pat Ryan owns AON insurance and the guy loves sports. he attends Bulls and Hawks games and maybe you have heard of Welsh Ryan arena at Northwestern. Yes his name. Wont even get into the fact he was among a very select few who showed up at 8 AM to see the New Trier Freshman bball team suit up, as I played hoop with his son Pat jr. Been to their house (or Mansion) and they are the people you want owning the Bears.

Fitz is his guy though.....take that for what it is worth.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Cant find George McLaskey stuff, it was one of those Joniak fluff interviews, so probably not written up, but George even mentioned that they would need to look at taking on some debt. Something they have never done and the issue is when you take on the debt, you cant keep paying everyone the annual payments they have been getting.

She is now 91, so this is going to be an issue one day sooner rather than later.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

IDK the Wirtz's found a way to hold Hawks with all their troubles back then when the old man died. Granted their aren't 100 Wirtz children running around that I know of. Seems the older football families have to sell upon death. See Baltimore, Miami, Cleveland and Tennessee? Somehow to their detriment the Davis family kept the Raiders.

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Elections have consequences.

Shut up and go back to the other board, PITTMIKE.

Shots fired from the white knight.

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Elections have consequences.

Do you know what kind of cash flow the Wirtz family has from Alcohol distribution, Apartment buildings, Equipment rental, etc. They could easily afford the inheretance tax. Plus they are smart enough to have an excellent estate planner. Its the essence of the issue with the Mccaskeys, they dont no any better.

I think in the book Halas, they talk about him buying floors of condos at the building on LSD and Hollywood to insure his privacy. Granted the building had small floor plates to start, but that was his objective to keep the family in hiding from the public, its what they always did and all they knew.

I saw when george took over as CEO he said he then reached out to other owners in town just for feedback on running an organization.

WTF? The guy who has been part of the Bears for 40 years calls the 45 year old President of the Bulls whose dad just gave him the gig to ask for advice? or then he said he called Tom Ricketts? the guy who now owned a team for 2 years? How do you work for the Bears for 40 years and not know what to do when given the reigns?

It is what it is! I feel very good in saying if Pat Ryan gets them, you will see a Jerry Jones, no expense sparred in order to win. That includes a new place to play. I dont know where that would be, it will happen and will be in the city.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

That sounds like a nice change.

Probably means it never happens.

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"He is a loathsome, offensive brute
--yet I can't look away."

That's what I wanted to hear.

That gives me more hope than any draft pick or FA signing. Now I really hope he gets the team. The only downside would be a reference to "big boy football" by Bernsie.

The difference between the Wirtzes retaining the Blackhawks and the McCaskeys retaining or not retaining the Bears may have to do with the NFL's rules about non-Packers team ownership being in one person's name. The Blackhawks are a subsidiary of the Wirtz Corporation of which Bill was the chairman. The NFL is much stricter about "corporate" ownership.

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That is info I did not know. Why did they exempt Packers? Or was it always that way and so grandfathered?

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Elections have consequences.

Because if the Packers weren't a community-based foundation, someone would have bought them and moved them years ago.

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Pat Ryan, I think is worth $3 Bill, or more.

This is not a corporate purchase and has has more than enough goodwill and pull to get this done.

I believe Ginny and Ed had 6 kids, who all have kids....so, that means there is probably about 15-20 Mccaskeys that get a check and own shares of the Bears.

I will just assume there is a few people named Halas or on that side of the family with shares as well. Maybe another 5?

Thats a good number of people willing to buy in v GET THE MONEY NOW.

Look at it from your own view. if you are a cousin of the Mccaskeys twice removed, and get a check each year for $400K, plus your 2 season tickets, would you rather have that or a one time payment of $40 mill? I am taking the $40 M

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Right, I agree with that.

I'm just saying that I think the NFL has rules about it being Pat Ryan the man himself and not Aon buying the Bears. I don't know all the details on this, just that you can't have situations like the other leagues have where teams are owned by corporations, private equity firms, and murky holding companies. The Tribune Company couldn't have owned the Bears, for instance. So it's a good thing Pat Ryan has all this money and will one day deliver us from the incompetence of the McClaskeys.

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well it's obvious its his plan, wondering about the Mccaskey plan.

Like I said, someone did touch on it with George recently and he gave that answer about them owning the bears for a long long time. Not that I expected him to say "yes, we are selling", but was surprised at how sure he was about them retaining ownerhsip.

Now, I know they can sell shares and retain voting rights. dont think Ryan goes for that,.

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

I understand that their are a lot of McCaskey's drawing from the well. But I also know how the NFL money has blown up OVER the last 10-15 years.

So I know we're guessing. But if we were to pick up each McCaskey, flip them over, shake them down, how much money falls out of their pockets.

I have to believe that it's in excess of 500 million dollars of combined McCaskey money. That's a low estimate. Might be close to a billion. For christ sake, they inherited the team, and have been making yearly profits since the George Halas died in 1983. Over the last few years this team must have cleared 80 million per year. With the TV money and every seat being sold at the 3rd highest ticket price in the NFL. Not to mention their local sponsors.

There's no way the Bears are doubling or tripling the Packers profit.

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Flew too close to the sun on wings of pastrami