Tremaine Edmunds #49 of the Chicago Bears celebrates with teammates aft making an interception during the 2nd fractional against the Dallas Cowboys connected September 21, 2025 astatine Soldier Field successful Chicago, Illinois.
Melissa Tamez | Icon Sportswire | Getty Images
The National Football League's concern committee has approved the merchantability of 2.35% of the Chicago Bears to existing owners of the squad successful a woody that values the Bears astatine an NFL grounds $8.9 billion, according to 3 radical acquainted with the deal, who asked not to beryllium named due to the fact that they were not authorized to talk publicly. Because the merchantability is to existing squad owners, the league does not necessitate the woody to beryllium approved by three-fourths of the NFL's owners.
The Bears were valued astatine $6.4 billion conscionable a twelvemonth agone successful CNBC's Official NFL Team Valuations — No. 10 among the league's 32 teams. The squad roseate to No. 7 successful CNBC's 2025 valuations.
The involvement of the Bears that was sold was held by the property of Andrew McKenna, according to 2 radical acquainted with the deal. McKenna died successful 2023. Galatioto Sports Partners represented the property successful the sale, said the people, who asked not to beryllium named due to the fact that they were not authorized to talk publicly. Two-thirds of the 2.3% sold volition spell to the McCaskey household and one-third volition spell to the Ryan family, leaving the erstwhile with astir 77% ownership and the second with astir 23%, the radical said.
Neither the NFL nor Galatioto Sports Partners responded to emailed questions from CNBC astir the sale.
The erstwhile grounds precocious valuation successful the merchantability of a number involvement successful an NFL squad was $8.6 billion, successful the acquisition of a 6.2% involvement of the San Francisco 49ers successful May, according to a idiosyncratic acquainted with the deal, who asked not to beryllium named due to the fact that they were not authorized to talk publicly. That topped the $8.3 cardinal valuation for an 8% involvement successful the Philadelphia Eagles astatine the extremity of 2024, CNBC antecedently reported. The New York Giants are presently looking to merchantability a 10% involvement astatine astir a $10 cardinal valuation, CNBC antecedently reported.
The Bears presently play astatine the obsolete Soldier Field, which was past renovated much than 20 years ago. The Chicago Park District gets immoderate of the revenue from non-NFL events astatine the stadium. The squad is exploring gathering a stadium successful Arlington Heights, a suburb of Chicago. A fixed-roof domed stadium would springiness the Bears an accidental to big non-NFL events year-round and get much non-NFL lawsuit revenue.
Valuations for the merchantability of constricted spouse stakes bash not needfully construe to power merchantability prices. Large LP stakes, say, supra 20%, typically merchantability astatine discounts to power merchantability valuations due to the fact that constricted partners person nary involvement successful however the squad is tally and the dollar magnitude to bargain the involvement is comparatively large. In immoderate cases, however, tiny LP stakes, say, beneath 10%, tin merchantability astatine a premium to a power merchantability valuation due to the fact that an LP involvement whitethorn beryllium the lone accidental a idiosyncratic has to ain a portion of an NFL squad owed to skyrocketing valuations and the existent dollar magnitude required to bargain specified a involvement is comparatively small.
The past power merchantability of an NFL squad was Josh Harris' acquisition of the Washington Commanders for $6.05 billion successful 2023, according to media reports.
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