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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 9:02 am 
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T-Bone wrote:
Beardown wrote:

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.


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

Quote:
As a result, the Packers’ profit from operations dropped from $54.3 million a year ago to $25.6 million this year. Net income dropped from $43.1 million to $25.3 million.

“I think you have to look at the last two years together to get a sense of more normalized numbers,” Packers Board of Directors Treasurer Mark McMullen said. “Over the course of the CBA, things will even out.”

Indeed, if the last two years of operating profit are combined and averaged, the $40 million dollar figure is very close to the number reported in 2012 of $43.0 million.

So, let's say net income is around $30 million a year for the Packers.
They own their stadium (tourist destination of sorts = high ticket prices)
Stadium capacity is now 80K (home team keeps 60% of gate, away team 40%). Before renovations was low 70Ks.
Parking Lots (Not as large as Dallas, New York or Foxborough but something)
Packers Pro Shop - no sales are shared with NFL.
Playoff Games - 1 game a year is still something

Definitely lack the sponsorship opportunities the Bears have.

Would we say Bears clear $40M-$50M a year? Or does the stadium situation counter the benefits from sponsorships, luxury boxes and higher ticket prices?


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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 9:08 am 
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Just as an easy example. CHASE is their 'Partner" at $10 mill a year. You see the CHASE name everywhere for a Bears game, no other financial institution around Soldiers field

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 9:22 am 
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Pretty sure the city of Green Bay owns Lambeau, technically, but I'm also pretty sure they bend themselves over the barrel for the Packers when it comes to the master lease. For instance, how much money, if any, did the Bears make on the Hawks' Stadium Series game?

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 9:31 am 
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Curious Hair wrote:
Pretty sure the city of Green Bay owns Lambeau, technically, but I'm also pretty sure they bend themselves over the barrel for the Packers when it comes to the master lease. For instance, how much money, if any, did the Bears make on the Hawks' Stadium Series game?

You're right. I mistakenly thought the Packers owned the stadium since their recent renovations were paid soley by them.


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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 9:34 am 
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The Packers and Green Bay might as well be one and the same, really. Aren't there people from the city council or Brown County government on their board?

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:05 am 
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Curious Hair wrote:
The Packers and Green Bay might as well be one and the same, really. Aren't there people from the city council or Brown County government on their board?

Yes, I believe their management board is local business leaders and government officials.


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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:10 am 
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I wish we had that setup so that Rahm could be on the board of the Bears. We could have increased security around luxury boxes and merit pay for defensive backs.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:17 am 
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redskingreg wrote:
Peoria Matt wrote:
pittmike wrote:
redskingreg wrote:
Smug also said Coughlin is done in NY after this season, at which time Jason Garrett is your new Giants HC.


Is Dallas firing him?


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.


Hub's a douche.

If the Cowboys have another December swoon, Garrett's stock will be right up there with Trestman's,

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:20 am 
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bigfan wrote:
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.


but he has to be pushing 80 at this point as well

That's not exactly foundational strength if he makes a play for the team

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:23 am 
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good dolphin wrote:
bigfan wrote:
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.


but he has to be pushing 80 at this point as well

That's not exactly foundational strength if he makes a play for the team


Pat Ryan Jr would continue right in his dads footsteps and he isnt a McCaskeys type pussy. Would be a great fit and owner.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:24 am 
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bigfan wrote:
pittmike wrote:
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.


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.



Trade tearing down Soldier Field for building the Lucas Museum with Friends of the Park then let the Bears build on property along the river in the south loop

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:25 am 
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Peoria Matt wrote:
bigfan wrote:
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.


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.


His last name is Ryan.

His ownership will be met with ambivalence at best

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:27 am 
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bigfan wrote:
Curious Hair wrote:
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.


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


Exactly. Plus you could probably negotiate having some affiliation with the team as it would be foolish for any ownership group to separate the Bears from the Halas name

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:32 am 
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As Northwestern's most prominent donor and trustee, Pat Ryan hasn't done a very good job of running the university generally or the football program specifically.

The president he hired, Morty Schapiro, regularly embarrasses himself at faculty meetings and has been largely unable to cultivate new donors for the school's capital campaign. Thus, many of the new buildings being constructed on campus are the products of investments by long-time donors such as Ryan himself. This crowd is steadily dying off.

The football coach to whom he remains committed is a barely competent huckster who has been unable to elevate the stature of the program.

Ryan definitely spends his money freely--but not necessarily wisely. Not sure he would be an improvement over the McCaskeys.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:46 am 
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If he moved phillips back to the bean counting, he would instantly be better.


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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 10:47 am 
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Is it really breaking news if it takes a caller to ask him a question to break it?


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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 11:08 am 
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Tall Midget wrote:
As Northwestern's most prominent donor and trustee, Pat Ryan hasn't done a very good job of running the university generally or the football program specifically.

The president he hired, Morty Schapiro, regularly embarrasses himself at faculty meetings and has been largely unable to cultivate new donors for the school's capital campaign. Thus, many of the new buildings being constructed on campus are the products of investments by long-time donors such as Ryan himself. This crowd is steadily dying off.

The football coach to whom he remains committed is a barely competent huckster who has been unable to elevate the stature of the program.

Ryan definitely spends his money freely--but not necessarily wisely. Not sure he would be an improvement over the McCaskeys.


Finally some common sense in this thread.

And some of the inaccuracies here would get other posters banned if they had said them.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 11:10 am 
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Beardown wrote:
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.


Keep talking Beardown. And you forgot about their share of the TV money.

There is plenty of annual liquidity there.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 11:15 am 
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now you need them all to agree to pool their money together and do this.

I do remember Mike McCaskey making $7 M a year as the CEO.

I just dont think there is $400-$500 mill of cash between all of them, but who knows exactly what they have?

George was awfully sure that they are keeping the Bears though and my point was that if that is true, it is very different than an agreement in place for someone else to buy them.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 11:21 am 
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THE INQUISITOR wrote:
The tale begins in 1988. In order to prevent shares in the Bears from falling into unfriendly hands, .


Seacrest, please address

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 11:35 am 
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good dolphin wrote:
THE INQUISITOR wrote:
The tale begins in 1988. In order to prevent shares in the Bears from falling into unfriendly hands, .


Seacrest, please address



The Old man had a right of first refusal clause in his will when he died. Any family member, including Muggs widow, had to offer the shares back to the family if they wanted to sell them.

The relationship with his widow was incredibly contentious. She fought them in court, but still had to offer the shares back to them, or provide a competing offer to buy.

This is how Reinsdorf's group ended up making an offer. She used him as a stalking horse knowing full well that he was unlikely to actually purchase the shares. Any beef he has is with himself.

Ryan and McKenna paid more than Jerry offered. And also received the right to be first approached on any future sale.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 11:38 am 
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To call the entire McCaskey family anti-semites because of something one of them may have said, is NO different than calling the board operator a racist because of something that was inferred in a post.

It's cheap, bigoted and unsupported by anything other than hearsay.

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 8:25 pm 
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bigfan wrote:
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?


Can I help speed up this process?

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 Post subject: Re: HUB Breaking News
PostPosted: Thu Dec 04, 2014 9:26 pm 
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Country Bumpkin wrote:
bigfan wrote:
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?


Can I help speed up this process?


IS THAT A THREAT ????


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 Post subject: Re: HUB Breaking News
PostPosted: Fri Dec 05, 2014 3:53 pm 
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http://articles.chicagotribune.com/1987 ... rs-letters

Great read…explains a lot about the McCaskey family dynamic. The key takeaway is the blatant unequal distribution of money amongst the children…curious if that is still the case.

I would guess prior to the stadium deal a sale of the team to Ryan would have been likely. The stadium deal happened…given that combined with the absolute boom in the NFL, I’d have to think there’s enough money amongst the McCaskey’s to keep the team.

I don’t know anything about Pat Ryan or Pat Ryan, Jr….I’m sure they have every intention of buying the team. If they do, it will cost them a lot of money. Jerry Jones comparison seems to be a good one. Once upon a time, Jerry Jones was a good owner. He hired people to run the football time and he won multiple Super Bowls. His ego grew and he became an Al Davis wannabe. If Pat Ryan can be an earlier version of Jerry Jones, that would awesome.

This will definitely be interesting to watch.

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 Post subject: Re: HUB Breaking News
PostPosted: Fri Dec 05, 2014 3:55 pm 
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One would *think* they could pay out the malcontents & IRS and still be able to cash flow it with a Rickets-type loan.

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 Post subject: Re: HUB Breaking News
PostPosted: Fri Dec 05, 2014 4:04 pm 
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 Post subject: Re: HUB Breaking News
PostPosted: Sat Dec 06, 2014 2:45 pm 
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Seacrest wrote:
good dolphin wrote:
THE INQUISITOR wrote:
The tale begins in 1988. In order to prevent shares in the Bears from falling into unfriendly hands, .


Seacrest, please address



The Old man had a right of first refusal clause in his will when he died. Any family member, including Muggs widow, had to offer the shares back to the family if they wanted to sell them.

The relationship with his widow was incredibly contentious. She fought them in court, but still had to offer the shares back to them, or provide a competing offer to buy.

This is how Reinsdorf's group ended up making an offer. She used him as a stalking horse knowing full well that he was unlikely to actually purchase the shares. Any beef he has is with himself.

Ryan and McKenna paid more than Jerry offered. And also received the right to be first approached on any future sale.



I am not sure what "The Right to be Approached on a future sale " is. A right of first refusal? A right to match? Is that right excluding family members, because if Pat Ryan has this RIGHT, that needs further deifnition, that is a huge difference in the future of this team.

Sure seems to be a number of people who claim they know of the legal agreement that exists? No, I am not singleing out Seacrest here, but for a legal document, that I can only assume was prepared by some high priced Lawyers who should be aware of the discretion of this issue, seems to have been leaked with some sure information. If a "right " or "option" is on the table for Ryan, its then just a matter of time and I would have to admit, would be surprised the McCaskeys would even agree to that in any sale of shares.

Played Golf with a friend of mine, we run into another mutual friend and his wife "lawyer" says..."Oh, I know you, I worked on your fathers will"....she was fired that Monday from a top 5 law firm. Confidentiality

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 Post subject: Re: HUB Breaking News
PostPosted: Sat Dec 06, 2014 4:24 pm 
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The right to match offers was played out in the sale to Ryan and McKenna. And it is a matter of public record also. And McKenna was the the real lynch pin in that deal, not Ryan.

What's not a matter of public record is any mention of Reinsdorf ever offering to buy any portion of the Bears owned by a Halas.

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 Post subject: Re: HUB Breaking News
PostPosted: Sat Dec 06, 2014 9:01 pm 
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Seacrest wrote:
The right to match offers was played out in the sale to Ryan and McKenna. And it is a matter of public record also. And McKenna was the the real lynch pin in that deal, not Ryan.

What's not a matter of public record is any mention of Reinsdorf ever offering to buy any portion of the Bears owned by a Halas.


I worked with Andy in the mid 90's.... he was everywhere...boards of Notre Dame, Cubs, Tribune, Bears, AON and McDonald's ... in fact his company printed every tray liner used in every McDonald's in the USA. He was the driver of the McKenna/Ryan group that Mugg's 20% and the right of first refusal.

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