Getty Bears Chairman George McCaskey has said his family will never sell the team.
The Chicago Bears have been in the Halas and McCaskey families since the franchise was founded in 1920.
Virginia Halas McCaskey, daughter of Bears founder and NFL legend George “Papa Bear” Halas, took over as team owner after her father’s death in 1983. She and her sons, led by team chairman George McCaskey, have been leading the way ever since.
While members of the McCaskey family have been adamant about keeping the team in the family in recent years, multiple reports have surfaced in the past year alone suggesting that could change. If the McCaskeys do decide to sell, how much would the franchise be worth? A few analysts and insiders have weighed in.
ALL the latest Bears news straight to your inbox! Subscribe to the Heavy on Bears newsletter here!
Multiple Reports Have Hinted at Turmoil Within McCaskey Family Over Selling Team
A May 2021 report by Jim O’Donnell of the Daily Herald suggested there was “some internal strife going on among family members to sell” the team.
Jeff Hughes of Da Bears Blog, who has rarely been wrong in his reports surrounding the Bears, reported in March of 2022 that “there are some close to the organization who believe a sale might actually be on the table once Virginia passes.”
The 99-year-old team matriarch and her sons have stated on multiple occasions they’d like to keep the team in the family.
“We have no intention of selling,” George McCaskey said in January of 2017, via the Chicago Tribune. “My brother Pat says it very well: ‘We intend to hold onto the Bears until the second coming.’ My brother Mike, when he was president of the Bears, said it very well: ‘We want to discourage people from even making inquiries.’ We have no intention.”
Things change, however, and after the recent sale of the Denver Broncos, some analysts think the Bears may be next.
Follow the Heavy on Bears Facebook page, where you can weigh in on all the latest Bears-related breaking news, rumors, content and more!
Bears Could Sell for More Than $5 Billion, Analysts Say
Rob Walton, an heir to the Walmart fortune, is set to become the next owner of the Broncos, as first reported by Forbes. Walton’s bid for nearly $4.5 billion was the highest in the bidding war for the team and multiple analysts think the Bears would sell for more than that.
Forbes reported in August 2021 that the Bears were the seventh most valuable team in the NFL at $4.075 billion. Hughes thinks the Bears could sell for around $6 billion, and notes that price could be much higher once the team builds a new stadium in Arlington Heights.
Looks like Broncos will sell for $4.5B.
If McCaskey family put Bears up, I’m saying they go for $6B. Conservatively.
Hughes isn’t alone in thinking the Bears could sell in the coming years. The Draft Network’s Justin Melo thinks the McCaskey family could change its tune.
“Given the approximate value of NFL franchises, which has been directly impacted by the Broncos’ stunning sale, it would be straightforward to understand why certain members of the McCaskey family could attempt to encourage a sale while resurfacing last year’s alleged talks. It wouldn’t be shocking if a franchise as legendary as the Bears sold for $5-plus billion,” Melo wrote on June 10, adding:
“Conversations are occurring all across the league, and the Bears are a clear team to watch as one of the next franchises that could potentially go up for sale.”
These things take time, but this is certainly something to monitor moving forward.
READ NEXT: Bears Urged to Avoid Potential Eagles’ Cut Victim
Comments
Bears Next ‘Logical’ Choice to Sell Team, Potential Price Tag Revealed: Report