Examining ownership succession plans for 13 NFL franchises

Discussion in 'Chicago Bears' started by JustAnotherBearsFan99, Jun 13, 2014.

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Would you like to see the Bears remain in the family, or be sold after Virginia passes away?

  1. Yes, I'd like it to remain a family owned franchise after Virginia passes away.

    13 vote(s)
    81.3%
  2. No, I'd like to see someone buy the Bears.

    3 vote(s)
    18.8%
  3. Other option (let us know what that option is)

    0 vote(s)
    0.0%
  1. soulman

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    Nice eye candy that's for sure but they've been out of the picture so long now I'm not really missing them. Not when we finally have an offense to watch for entertainment.
     
  2. soulman

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    JJ, I think all of that was directly related to Mikey whom I'm 100% certain GSH would have called the second dumbest SOB he ever met. In my book he's first though simply because Ed McCaskey never did the damage Mikey did. The Old Man gave him a title but no real job to go with it. It's too bad Ginny didn't do the same with Mikey until it was too late.
     
    • Agree Agree x 1
  3. Bearstuff

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    I haven't done any research on what specifically the family did, but it would be totally possible for the ownership to be a part of a trust and avoid estate taxes. Further, if the trust were to exist in perpetuity, all generations could avoid the tax. Somehow, I would imagine the NFL wouldn't allow multi generational trusts though.

    So, whenever it is measured for taxation purposes, it will be at the current value of the franchise at the date of Ginny's (or whomever) death.
     
  4. Ski-Whiz

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    The question I have is with the cheerleaders.

    Most teams have them as an outside company, they are contracted. Why wouldn't you just take control of them? Is it a liability thing? They don't have to worry about injury, benefits etc?

    To me, it makes more sense to take care of them a little better. Honestly it pisses me off knowing that these women are treated like third world Nike makers.

    You can only pay them $100 a game? Really??? Fuck you probably pay more to the guy sweeping the bathroom.

    Surely teams would show a little more pride in their cheerleaders. After all they are wearing their logo and brand, supporting THIER team.
     
  5. soulman

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    While I do agree with you I think many of these team cheerleaders are using this as a stepping stone for other things. Quite a few of the Bronco gals have used their affiliation with the team to get modeling contract that they may not have gotten without their connection with the team and those do pay good money.

    But I still agree with you. It's just another example of how multi-million dollar organizations play the part of the cheapskate with some of their assets and those ladies are an asset even if they contract for them outside of the organization. I have some other idea why they may be wise to do that as well as far as protecting themselves from other liability.

    As far as the Bears and the NFL and the estate tax issues you nailed it. Her kids will have to pony up for the taxes upon her death but the kid's could also set up GSTs to pass along their interests to their grandchildren and may already have done that or are being advised on it. One trust doesn't last in perpetuity but under certain circumstances another can be established and I don't think the NFL could or would prohibit that.

    But it's obvious with the value these teams have grown to that some rather intricate forms of estate planning are needed if the present owners expect to keep their team in the family and not suffer through a deal like Joe Robbie's family did where they had to sell the Dolphins to pay the taxes.
     
  6. JustAnotherBearsFan99

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    Regarding the original poll question, I noticed that 3 people want the franchise sold to someone else. I'm really curious as to "why" sell the team now that things have turned around and we have a solid family member (George McCaskey) running things pretty well right now?

    Things are going well right now. Why chance some new Jerry Jones type owner buying the Bears? I'd be sick if we did that. Things are going so well right now. Why screw it up with some crazy owner getting his hands on the Bears?
     
  7. Ski-Whiz

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    I can only guess that it's to make sure it's in younger, more stable hands?

    Until recently the ownership started to care.

    Like most, I felt they were only trickling in money to keep the fans mildly happy. I felt they only gave the bare minimum. They would sign one person, or one bold move (if that).

    Now they have the mentality they want to win. It's like they turned it into a team again, vice a business. Unless their thinking is that they can make more revenue if they become better? Look at Dallas, or some of the other teams. They are just booming.
     
  8. JustAnotherBearsFan99

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    I agree that until George got into the picture the Bears were messed up. But everything changed when he took over for the family. Here's my 2-cents worth on it. We finally have a solid football-smart guy as the representative of the ownership of the team. He's pretty young too (one of Papa Bears youngest grandkids). He's always lived, ate & breathed Chicago Bears football - the man absolutely loves the Chicago Bears. He's worked for the Bears since he was a 14 year old high school kid working part-time for the Bears, and he had experience from doing humble jobs for the Bears, all the way up to being Chairman of the Board. This is a guy who could lead the franchise for 20, 30 or more years. He's already done some gusty moves in letting Angelo go, and then Lovie Smith. He's brought in a smart GM in Emery, and a head coach who should be able to lead us to some Super Bowl wins. Everything is FINALLY looking up for the franchise.

    With this in mind, why on earth would we want another owner to come in? Why take a chance getting a goofy owner who will run the franchise into the ground like a Jerry Jones type who has flushed the Dallas Cowboys down the crapper? Let's not tinker with anything now that the Chicago Bears is on its way back up as a franchise. From an ownership perspective, with George McCaskey in place, we're in great shape for years to come.
     
  9. Ski-Whiz

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    I agree. I'm only speculating that some fans don't see the sun coming up. They see our current front office just another JA/Lovie start.

    Who knows. I like where we are at. I think we have the recipe for a ring!
     
  10. riczaj01

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    I'd be okay w/a new ownership group taking over if it meant that the Mc's were out of the picture longterm. I'd also be okay w/George running the show for the foreseeable future, he seems to know what he's doing.


    lil wishywashy I know but even 4 years ago I couldn't wait for the Mc's to be out of HH, it's going to take awhile to get that feeling out of the system.
     

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