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Bears make offer to buy Arlington Racecourse


malagabears

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13 hours ago, AZBearsFan said:

Because they don’t fully realize the value of the asset until they actually sell it, and with each generation that share gets thinner and thinner. Nobody there is going broke, but at some point everyone, and especially at that level, should ask, “How much money is enough?” At some point everyone should want to just kick back and enjoy the ride. We’re all only vertical for so long, and all the key players there are in their 60s or older. They’ll all still be NFL royalty even if they live out their senior years watching the games from a yacht in Central America. They’re descendants of George ******* Halas. 

Yeah I made this point, but it never posted.

They don't all get much income from it.    I think extended family would like to have the lottery ticket cashed so they can have some fun spending millions.

Better invest well though and not spend it all because Golden Goose will be dead.

 

 

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1 minute ago, dll2000 said:

Yeah I made this point, but it never posted.

They don't all get much income from it.    I think extended family would like to have the lottery ticket cashed so they can have some fun spending millions.

Better invest well though and not spend it all because Golden Goose will be dead.

 

 

All this because some ancestor got involved in what was a very fringe sport.

Who knows though?  Might wise to sell high.  People thought horse racing and boxing would always be as it once was.

Now Arlington Park sits empty.

Youth football is not near participation as it was just 10 years ago.   A lot of boys don't even watch football anymore.   When I was growing up they almost all did.

Something some members of McCaskey family may have noticed.   They may be playing a long game as well or smartly diversifying their big singular asset into other than just football.

They may be able to accomplish same goal by borrowing against asset though with low interest rate and still keeping the asset itself.   

 

 

 

 

 

 

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11 minutes ago, dll2000 said:

Yeah I made this point, but it never posted.

They don't all get much income from it.    I think extended family would like to have the lottery ticket cashed so they can have some fun spending millions.

Better invest well though and not spend it all because Golden Goose will be dead.

If they sell for $3.5B or whatever the current valuation is then they’d be able to live REALLY WELL without even touching the principal.

I don’t know how many shareholders there are but even a 1% share of $3.5B is $35M. If you’re talking the key players in the family they all probably have at least 5% and maybe more. 5% is $175M. Even if half those proceeds are taxed you’re sitting on enough money to live VERY comfortably off the interest alone. A conservative mutual fund-based 401k plan projects to average, what, 5% annual yield? On $17.5M - $87.5M that’s $875,000 - $4,375,000 interest income annually on average before they spend a penny of the sale proceeds, and that’s just from a 1-5% share. If you’re talking Virginia or George you’re probably talking much larger percentages. You’re also talking about people who’ve been rich all their lives as the starting point too, not John Doe garbageman hitting the lottery for 8 figures. They already have the infrastructure in their lives to help them not blow all the money (lawyers, financial advisors, etc.), plus probably already own the things most people who blow a fortune spend it on (homes, cars, etc.), and won’t have to share so much with their families since they’ll all be getting similar windfalls too. 

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2 hours ago, CBears019 said:

Can you imagine a stadium built by Bezos?  

Yeah, I mean if he's willing to spend $500 mil on his yacht what's a few billion or so on a stadium gonna do to dent his net worth?

Just wondering if every fan will have refreshments delivered to their seats or only those who join Amazon Prime?  😁

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49 minutes ago, dll2000 said:

Yeah I made this point, but it never posted.

They don't all get much income from it.    I think extended family would like to have the lottery ticket cashed so they can have some fun spending millions.

Better invest well though and not spend it all because Golden Goose will be dead.

 

 

What we don't know enough about though are the tax implications of a sale.

As I recall GSH set up a GST (Generation Skipping Trust) to pass along to his grand children the true ownership of the Bears but we have no information on whatever else may have taken place since then that might further defer taxation upon sale.

Or.....are they looking into this now because of the rumors of increasing inheritance taxes in the near future and there is no additional deferral of any taxes available to them any longer?  Unfortunately we're not likely to find out anytime soon either.

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7 hours ago, beardown3231 said:

Next time have a clue, moron

i understand he covers the entire league, but he was just reporting on what was going on in the meetings. the relocation talk is maybe only ramped up to 5%, and thats just because a potential site is for sale. calling him a moron for not knowing this tiny detail is just ignorant

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1 hour ago, AZBearsFan said:

Maybe he’d just put it on his yacht.

But seriously, we’d probably have the coolest stadium in the world, not just the NFL. 

my only worry with bezos that he would become a haslam/snyder and jones to a lesser extent - gets maybe too involved and turns things over every 2-3 years if things aren't working out perfectly

if that's not gonna be the case, then yeah, bezos would be cool. he'd probably build a dope *** state of the art stadium and that, combined with the new halas hall reno would be enticing to FAs

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6 minutes ago, dll2000 said:

@AZBearsFan@soulman

Might happen when Virginia dies.   But I imagine George likes working at Bears, Inc.   

I guess we'll see.   The horcrux comment on twitter really cracked me up.

It would be cool to see what would happen with an eccentric billionaire owner with a new toy to play with.

 

 

 

Me too although Ginny is hardly as evil as old Voldemort.

I guess we can all dream about an owner like Bezos.  Oprah was also a rumored possibility in the far distant past but I'm not sure why Jeff Bezos would want to own an NFL franchise unless he became more or less an absentee owner.  I don't see him being involved to the same level as a Jerry Jones unless there's some payoff I'm just not seeing.

Andrew McKenna and Patrick Ryan are 20% minority owners whom I guess may be in line to increase their ownership or head up a group who would buy out the McCaskey's 80% share.  Over the past 5 years the value of the franchise has roughly doubled from $1.7 bil in 2015 to $3.5 bil in 2020. 

Maybe they are looking to get out but I truly don't see anything on the near horizon that tells me NFL franchises won't still be increasing in value for many years to come.  They have a labor agreement in place through 2030 and TV money keeps pouring in with pay per view options only enhancing that.

But who knows?  Maybe Teddy Bears calls it quits and not wanting to spend hundreds of millions on the financing and development of a new stadium again they decide to cash in their chips and sell or possibly sell a larger share while still retaining majority ownership.

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23 minutes ago, dll2000 said:

But how much fulfilment can George really get out of it?

What does he actually do there that is important?   At least Jerry Jones gives his kids real jobs to do and does much of GM work himself.  

 

 

Owners own.  Jerry Jones is somewhat of an anomaly as far as that bunch goes.  He's always had his hand in the management pie.

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16 minutes ago, HuskieBear said:

i understand he covers the entire league, but he was just reporting on what was going on in the meetings. the relocation talk is maybe only ramped up to 5%, and thats just because a potential site is for sale. calling him a moron for not knowing this tiny detail is just ignorant

Consider the source.....and I don't mean Albert Breer.....LOL.

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