The Chicago Bears could be looking to make changes to their ownership group in the near future. According to Bloomberg News, the Bears are exploring selling a minority stake in the team that was owned by the late Andrew McKenna Sr., who passed away in early 2023.
The news comes four months after the passing of principal owner Virginia Halas McCaskey. While the family has stood firm that they will not sell majority ownership in the team, it sounds like they’re willing to sell a minority stake to increase cash flow to possibly help fund their new stadium project. The McCaskeys own over 80% of the Bears, while businessman Pat Ryan owns 17.67%. McKenna’s estate owns 2% of the team.
As of August 2024, Forbes valued the Bears at $6.4 billion, but team values have been skyrocketing since then. Most recently, the San Francisco 49ers sold a stake in their team in May and were valued at $8.6 billion. Using that evaluation, McKenna’s shares would be worth around $172 million.
Last year, NFL owners voted to allow private equity funding through pre-approved firms, and a few franchises have taken advantage. A number of teams, like the 49ers, have sold minority stakes, and it looks like the Bears could be the next organization to follow suit.
This article originally appeared on Bears Wire: Report: Bears looking into selling minority stake in team
Reporting by Brendan Sugrue, Bears Wire / Bears Wire
USA TODAY Network via Reuters Connect
