New Information Sheds Light On Why Chicago Bears May Be Sold Soon

[Heinz D.]

59 minutes ago, Sugashane said:

Eh. Let's back off the political talk please.

Go ahead and PM it if you want to have the discussion. 

Cool. 

On my end, I legit didn't know exactly what he was getting at. And it can stay that way. 🙂

[dll2000]

18 hours ago, Heinz D. said:

I guess? Are you referring to the league acknowledging the Black Lives Matter movement? Or is there something else? 

You can PM me if you want Heinz if you want to know my personal views as long as you aren’t just looking for a fight.  

I was just speaking generally of corporations, namely NFL in this case, being involved in politics and taking a side as our country is very divided on many issues.

I was purposely avoiding saying one side is right or wrong or getting into any specifics.  

 

[Heinz D.]

2 hours ago, dll2000 said:

I was just speaking generally of corporations, namely NFL in this case, being involved in politics and taking a side as our country is very divided on many issues.

Yeah, it's not just the NFL. That's true, and the main reason I asked just what you meant in the first place. I have an opinion on what the NFL has been up to...but I'm not going to share that with everyone, either. 

2 hours ago, dll2000 said:

I was purposely avoiding saying one side is right or wrong or getting into any specifics.  

👍

Edited July 4, 2021 by Heinz D.

[JAF-N72EX]

Sorry to get back so late @IotaNet. I wasn't ignoring your PM brother.  Been away on a small vacay but figured I'd post my response here publicly since it's relevant. And judging by the last couple of replies, maybe this thread needs a little steering back on the right track.

Anyhow, absolutely. If the McCaskey's go all-in....they will go all-in to the furthest extent. They would almost HAVE to and would be stupid to NOT take advantage of it.

As many of us have said, it goes way beyond what it could mean for the team, it would mean alot for the city in general. Besides, this would be a large investment, so they have to go-big early to please investors in order cash out later on--which they would ten fold.

Besides the Hollywood Park development, a slew of other large public and private investments are also in the works for the surrounding community.

I really don't see how this big move would NOT be a MAJOR WIN for all parties involved; City profits, investors are happy (especially long-term), other owners see a big increase in pay (which is pertinent in CBA negotiations that expires around the same time in 2030), McCaskey's get all the money and praise, more fans get to enjoy NFL games and much more. And most importantly.....Soldier field property could be used for the average family who is not even a football fan and have a park or something else to take their families too. That could be a big boost in morale and I don't live in Chicago, but I've read enough news to know that god know it needs SOMETHING, ANYTHING right now because it's bad. That's just my outside perspective is all.

 

[Heinz D.]

10 hours ago, JAF-N72EX said:

As many of us have said, it goes way beyond what it could mean for the team, it would mean alot for the city in general. Besides, this would be a large investment, so they have to go-big early to please investors in order cash out later on--which they would ten fold.

It's hard to say if the organization, as it is right know, could pull everything off. So yeah, they may have to sell to get the overall plan rolling. It would be weird for the McCaskey's to not own the Bears, but I suppose we should all wish that is what ends up happening. Bezos stepped down as CEO of Amazon...maybe the rumor is true and he IS going to buy the Bears. 

[IotaNet]

11 hours ago, Heinz D. said:

It's hard to say if the organization, as it is right know, could pull everything off. So yeah, they may have to sell to get the overall plan rolling ...

I'm not an armchair GM, or a fantasy footballer, just a passionate fan. What I also am, is a businessman, and some of the most important things that make a business deal work are already in play:

1) A known brand - The Chicago Bears. A charter franchise that is a crown jewel of the NFL.  At their worse, the Bears are always relevant in the NFL and they're in that select group of sports franchises (think NY Yankees, Montreal Canadiens, LA Lakers, and yes, Dallas Cowboys) whose success boosts the overall league.

1b) A known brand - The NFL. A machine that prints money, inspires passion, and creates tribal loyalty. 'Nuff said.

2) Available land - My grandaddy told me a long time ago, "Land is one of the few things they aren't making any more of." That's real talk.

3) Plentiful Cheap Money - Interest rates are so low right now (and certain Corporate profits are so high) that this is a good opportunity for the big thinkers with deep pockets to jump in and make something happen.

Chicago has a lot of problems these days. (I don't live there anymore but I have tons of family that does.) From what I can see, the city needs a win -- badly. With the right imagination, the Bears to AH could be spun into a win for everyone -- including the city proper. It just takes some vision and imagination.

Then again, who ever accused politicians of having either of those?

Edited July 6, 2021 by IotaNet

[Heinz D.]

14 minutes ago, IotaNet said:

Chicago has a lot of problems these days. (I don't live there anymore but I have tons of family that does.) From what I can see, the city needs a win -- badly. With the right imagination, the Bears to AH could be spun into a win for everyone -- including the city proper. It just takes some vision and imagination.

It would be a potential win for the city itself, in a long game kind of sense, but it sounds like the city is going to fight the move, so in the short term they'll try to convince everybody it's a horrible thing. But facts are facts, and more people attending Bears games in general--as well as the potential for Big Ten Championships, Wreslemania, etc., will end up sending a LOT more money Chicago's way in the long run. (Especially if they can also generate revenue off of Soldier Field, or whatever they would build in its place.)

As far as the vision and imagination, that's a good take on it, but what I was bringing up earlier is that I don't know that the McCaskey's can dish out the $86 million required to break the Soldier Field lease in 2023, then turn around and start financing a new mega-complex. Maybe they can, but the traditional view of them is as not having as much cash as a lot of the ownership families around the league. That view could be off, I dunno. I have a feeling that we're about to find out. 

14 minutes ago, IotaNet said:

Then again, who ever accused politicians of having either of those?

Like I said earlier (but maybe in the Arlington Heights thread), the city will fight the move, but I'm willing to bet that the state will not. Hopefully that doesn't create some weird political battle, as that doesn't help anyone involved in all this. 

[IotaNet]

6 hours ago, Heinz D. said:

… I don't know that the McCaskey's can dish out the $86 million required to break the Soldier Field lease in 2023 …

That’s exactly my point in all of this. On a $2BN stadium deal, $86M is less than 5% of that. Than kind of money can be “worked into the package” (not necessarily out of the McCaskey’s pockets, either)  in some fashion. 
 

We’re talking big, big money troops. Whole different kind of thinking at play.

Edited July 6, 2021 by IotaNet

[JAF-N72EX]

10 hours ago, IotaNet said:

I'm not an armchair GM, or a fantasy footballer, just a passionate fan. What I also am, is a businessman, and some of the most important things that make a business deal work are already in play:

1) A known brand - The Chicago Bears. A charter franchise that is a crown jewel of the NFL.  At their worse, the Bears are always relevant in the NFL and they're in that select group of sports franchises (think NY Yankees, Montreal Canadiens, LA Lakers, and yes, Dallas Cowboys) whose success boosts the overall league.

1b) A known brand - The NFL. A machine that prints money, inspires passion, and creates tribal loyalty. 'Nuff said.

2) Available land - My grandaddy told me a long time ago, "Land is one of the few things they aren't making any more of." That's real talk.

3) Plentiful Cheap Money - Interest rates are so low right now (and certain Corporate profits are so high) that this is a good opportunity for the big thinkers with deep pockets to jump in and make something happen.

Chicago has a lot of problems these days. (I don't live there anymore but I have tons of family that does.) From what I can see, the city needs a win -- badly. With the right imagination, the Bears to AH could be spun into a win for everyone -- including the city proper. It just takes some vision and imagination.

Then again, who ever accused politicians of having either of those?

At this point, I'm convinced that I'm a carbon copy of Iota from another dimension in a parallel universe.

What the saying; "buy land because God isn't making any more of it?" or something like that. It's so true in this instance.

To reiterate.....it just makes too much sense for the McCaskey's to pass up on an opportunity like this.

[GBHalas]

18 hours ago, Heinz D. said:

I don't know that the McCaskey's can dish out the $86 million required to break the Soldier Field lease in 2023, then turn around and start financing a new mega-complex.

If that money doesn't get worked into a deal to sell the team, I'm sure the NFL would step in and help kick in that cash.  For Chicago to have a venue for the Super Bowl is in the league's best interest.  Goodell probably would do whatever he needed to facilitate that.

[BEAR FACE DOWN ARROW]

Barring some huge wrench this seems like an obvious conclusion.  The Bears are probably about as valuable as they're ever going to be, except of course if they move a develop their new base in Arlington Heights.  Bluhm can bring in both casino operations and hedge fund money.  Arlington Heights would be over the moon to make sure the Bears come there and not some residential development that has limited tax income. The mayor is a lame duck and will get zero people to help her if she wants to fight this; better to just demand the full penalty for breaking the lease and get to work on something else to go there.  

Pretty sure Andy Bluhm is going to be in charge of the Bears in the next decade or so!

[Heinz D.]

8 hours ago, RunningVaccs said:

Pretty sure Andy Bluhm is going to be in charge of the Bears in the next decade or so!

Does Bluhm have the money to outright buy the Bears? (Well, not necessarily "outright", but you know what I mean...)

[IotaNet]

 

18 hours ago, Heinz D. said:

Does Bluhm have the money to outright buy the Bears? (Well, not necessarily "outright", but you know what I mean...)

He probably doesn't have the money to buy them "outright" but I doubt he'd "write a check" for it if he had it. It's about having access to the money. He runs a hedge fund, that means he moves in big money circles. He has an estimated net worth of $2 BN +

Additionally, his father Neil Bluhm (a Chicago native who went to U of I)  is one of the founders of JMB realty. https://en.wikipedia.org/wiki/Neil_Bluhm. Dad is also  partner of Midwest Gaming & Entertainment, which owns several casinos. He has an estimated net worth in excess of $5 BN.

These net worth figures are speculation from the interwebs but whatever the actual figures, these guys are the real deal. This is the kind of big money that makes these kinds of deals happen. 

 

Edited July 7, 2021 by IotaNet

[BEAR FACE DOWN ARROW]

13 hours ago, Heinz D. said:

Does Bluhm have the money to outright buy the Bears? (Well, not necessarily "outright", but you know what I mean...)

Nope, but I would bet they're brought in with a share greater than their cash contribution for the juice they'll bring to developing a sportsbook and probably hotel.  I have exactly zero personal trust in any commercial real estate personalities I know, but that type is top of my list if I ever wanted to accomplish a large scale plan that involves lots of financing and general dealmaking. Honestly I think it would be a perfect match for what the McCaskeys and other minor stakeholders bring in terms of the nearly-solely-owned huge brand asset.  Even being charitable I don't think you can think of George McCaskey as any kind of shrewd negotiator, and Ted Phillips seems more like the cautious accountant type.  I think all this could work (although I still prefer Soldier Field I think the nostalgia is a tiny tiny factor here and won't matter) so long as they get funded while money is cheap and the will to get a deal is strong from the town. 

My big interesting question is what to do with Soldier Field, aside from outdoor graduations there's not a lot that springs to mind. It's an awkward site as you're bound in by a harbor, a highway, a museum and that godawful convention center.  Northerly island is already kind of underutilized so someone needs to come up with a coherent plan for that area.  Fun story about the old Meigs Field that was next door:  when my buddy graduated from Police Academy (bleep boop) they got to take pictures with old Mayor Daley at McCormick. This was RIGHT when the midnight bulldozers appeared to trash Meigs, and I was the camera guy for a couple peoples pics, and I was slowly rotating the place they'd pose for "better light" but was really trying to get my pals and the Mayor with a background with the bulldozers and big ditches dug into the tarmac.  A couple of the Mayors team literally picked my up by my arms, moved me laterally 10' and reset the scene.  Mayor says "nice try *******" with a huge grin. 

 

[abstract_thought]

12 hours ago, RunningVaccs said:

My big interesting question is what to do with Soldier Field, aside from outdoor graduations there's not a lot that springs to mind. It's an awkward site as you're bound in by a harbor, a highway, a museum and that godawful convention center.  Northerly island is already kind of underutilized so someone needs to come up with a coherent plan for that area.  Fun story about the old Meigs Field that was next door:  when my buddy graduated from Police Academy (bleep boop) they got to take pictures with old Mayor Daley at McCormick. This was RIGHT when the midnight bulldozers appeared to trash Meigs, and I was the camera guy for a couple peoples pics, and I was slowly rotating the place they'd pose for "better light" but was really trying to get my pals and the Mayor with a background with the bulldozers and big ditches dug into the tarmac.  A couple of the Mayors team literally picked my up by my arms, moved me laterally 10' and reset the scene.  Mayor says "nice try *******" with a huge grin.

Turn it into more park space and maybe another museum that would fit with the surrounding area. It would be nice to have more green space in the city.