Chicago Bears owner Virginia McCaskey passed away this week at the age of 102, leaving behind a remarkable legacy after more than 40 years at the helm.
McCaskey, who inherited control of the team from her father George Halas in 1983, oversaw a team that made 14 playoff appearances and reached two Super Bowls, including a title-winning run in 1985.
She now leaves behind a team that has remained within her family’s control for nearly its entire existence, and many are left wondering who owns and controls the team after her passing.
While the McCaskey family is the majority owner of the Bears, Virginia herself owned approximately 20% of the team, according to a report from Crain Currency.
When her father George Halas died in 1983, his majority share of the team was distributed among his 13 grandchildren, including Virginia’s 11 kids and two other grandchildren.
McCaskey controlled the voting power of those shares, amounting to an 80% vote in matters pertaining to the team, according to reporting from ESPN.
In 1990, two of Halas’ grandchildren sold their shares of the Bears to Chicago business magnate Pat Ryan, giving him and another partner an approximately 20% stake in the team, according to the Chicago Tribune.
Ryan is the retired CEO of Aon Corporation, and has become well-known for his philanthropic efforts, including the Patrick and Shirley Ryan Foundation. He also is the former chair of Northwestern University’s Board of Trustees, and both Welsh-Ryan Arena and Ryan Field bear his name.
According to Crain Currency, the 20% stake owned directly by Virginia McCaskey will likely be distributed among family members to lower the tax burden involved in taking control of their ownership.
More notable is the question over who will control the voting rights of the shares in the team. It is likely that control will pass to George McCaskey, Virginia’s son who has served as the team’s chairman of the board since 2011.
That plan has not been publicized, with the McCaskey family and Ryan routinely declining requests for comment on the issue over the years.
