The recent passing of Virginia McCaskey at the remarkable age of 102 marks a significant turning point for the Chicago Bears and the Mccaskey Family, who have been at the helm of this iconic NFL franchise since its inception in 1920. As the daughter of Bears founder George Halas, Virginia McCaskey embodied the enduring spirit of the team and its deep-rooted family ownership. Her death on Thursday has naturally sparked questions about the succession plan and the future direction of the Chicago Bears under the McCaskey family’s stewardship.
Virginia McCaskey’s role was more than symbolic; she was the team’s control person and a constant presence at every game, both home and away, demonstrating an unwavering commitment to the Bears. Even at 102, her attendance at a game in Green Bay just a month prior to her passing, in frigid conditions, underscored her dedication. She remained actively involved in crucial decisions, including the recent appointment of a new head coach, highlighting her lasting influence within the organization. This era of stability under Virginia McCaskey is now evolving, prompting considerations about the next chapter for the McCaskey family and the Chicago Bears.
The McCaskey family’s ownership structure has seen minimal changes over the decades. The last major shift occurred in 1990 when 20% of the team was sold to Pat Ryan and Andy McKenna. This transaction valued the Bears at $150 million at the time. Fast forward to 2024, Forbes estimates the franchise’s worth at a staggering $6.4 billion, ranking it among the most valuable in the NFL and across professional sports, despite ongoing stadium uncertainties. The family has retained 80% ownership, emphasizing their continued control and investment in the Chicago Bears’ legacy.
The lineage of the Chicago Bears is intrinsically linked to the Halas and McCaskey family. George Halas’s vision and leadership laid the foundation for the franchise, a legacy Virginia McCaskey inherited and championed. Initially, it was assumed her brother, George Halas Jr., would take over. However, his untimely death in 1979 positioned Virginia McCaskey as the heir apparent, a role she embraced with grace and determination. Her words to the Chicago Tribune reflect this unexpected path: “God had other plans for all of us.”
Following the passing of Virginia McCaskey, her son, George McCaskey, currently the team’s chairman, is widely expected to assume the position of NFL control person. He replaced his brother Michael McCaskey as chairman in 2011, indicating a pattern of family succession within the Bears organization. Virginia McCaskey herself expressed hope for the team to remain within the extended Halas family, emphasizing their role as custodians of a “tremendous legacy.” This sentiment underscores the McCaskey family’s deep commitment to maintaining ownership and guiding the Chicago Bears into the future.
Financial considerations have played a role in the team’s ownership history. The 1990 sale to Ryan and McKenna was partly driven by estate tax issues following George Halas’s death. Now, with the team’s exponential growth in value, the potential for a future sale of the McCaskey family’s 80% stake is a recurring topic of speculation. Pat Ryan Sr., already a minority owner and with a substantial net worth, could be a potential buyer. The team’s acquisition of land in Arlington Heights for a potential new stadium further fuels these discussions, alongside plans for a domed stadium near Soldier Field. These stadium developments and the team’s rising value might influence the McCaskey family’s long-term ownership strategy.
Kevin Warren, the team’s president, is currently exploring public-private partnerships for stadium funding, navigating complex negotiations within Chicago. Meanwhile, the landscape of NFL team ownership is seeing significant transactions, such as the Washington Commanders’ sale for $6 billion in 2023. Billionaires like Jeff Bezos and others have been linked to NFL team acquisitions, suggesting a robust market for franchise ownership should the McCaskey family consider selling.
In conclusion, the passing of Virginia McCaskey marks the end of an era for the Chicago Bears and the McCaskey family. As they navigate this transition, the focus will be on honoring her legacy while strategically planning for the future. The McCaskey family’s decisions regarding ownership, stadium development, and team leadership will shape the Chicago Bears for years to come, carrying forward a heritage deeply intertwined with the history of the NFL itself. The sports world watches as the McCaskey family charts the course for this storied franchise in a rapidly evolving league.
