Pro Football Rumors
A minority ownership stake in the Bears could soon be up for sale. The team is giving thought to a sale of the shares previously owned by Andrew McKenna Sr., Bloomberg’s Randall Williams and Miranda Davis report.
McKenna died in 2023, and a sale would bring an end to questions about how his stake would be dealt with following his passing. Per the report, it is unclear how large McKenna’s stake was in the franchise. Even a small portion and non-controlling stake would nevertheless be quite valuable, of course.
NFL franchise values have soared in recent years, and there have been a number of instances of teams selling off minority stakes for an influx of cash. A select number of private equity firms are now eligible to purchase shares of up to 10% in NFL teams. It will be interesting to see if the Bears go that route presuming McKenna’s stake winds up being sold.
Prior to the start of the 2024 campaign, the Bears were valued by Forbes at $6.4 billion. That figure – which placed the team ninth in the NFL – could change if/when a decision is made to sell the minority shares, but in any case a notable price tag will be in store for any new members of Chicago’s ownership group. The team’s efforts to build a new stadium in Arlington Heights could be aided by the revenue brought about by a sale.
Bears matriarch Virginia McCaskey passed away in February, but her son George – who has served as the team’s chairman since 2011 – made it clear in the wake of her death there are no plans for the family’s 80% stake to be sold at any time. Continuity with respect to the franchise’s controlling owners will be in place for 2025 and beyond, but a new minority partner could be in the fold at some point.
