The business is worth more than three billion dollars.
When the conversation turns to naming the most financially distressed sports franchises, the National Football League’s Chicago Bears business is never included in that discussion. Or is it? There seems to be some movement to help the McCaskey family’s business which could be worth well over $3 billion. But Chicago area politicians seem to be worried about the state of the health of the business and seem willing to spend public money to make sure the family has enough working capital to compete with the other 31 NFL teams. Arlington Heights Mayor Tom Hayes knows that he has a big tract of land that will be soon available as the Arlington International Racecourse is shutting down in September. The 326-acre property is big enough to house a football stadium complete with a parking lot. Hayes recently said a football stadium is on the table for me.
Chicago Mayor Lori Lightfoot is also concerned about the state of the Bears business and how the team’s present home might need some upgrades. She told Channel 32 news in Chicago that she is talking about Soldier Field with the McCaskeys and is in agreement that stadium discussions should be on the table. “It’s a great, iconic site. But it’s a challenging site, and I think it’s incumbent on us as a city to step up and look at ways in which we can make sure that the Bears fans, but also the Bears as an organization, have the best opportunities to maximize the fan experience and, of course, maximize revenues.” Just what this means is not known at this time other than the McCaskey’s probably want a more modern facility that was rebuilt 19 years ago. As far as the business, the Bears franchise value should increase thanks to recently signed league TV deals.
Evan Weiner’s books are available at iTunes – https://books.apple.com/us/author/evan-weiner/id595575191