- Wanna have more fun? Class A, B, C, D shares.... Archived Message
Posted by osklister
on February 6, 2025, 16:05:18, in reply to "They have 10%. Andy McKenna owns the other 10%"
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Comes from Twitter, so take it for what it's worth: =================================================== The Four Classes of Stock: A Legacy in Layers According to the decision, when George Halas Sr. reorganized the Chicago Bears in 1981, he created four classes of stock, each serving a specific purpose to maintain family control and ensure the team's legacy. Class A: The Unrelated Shareholders Class A shares, originally comprising 11.29% of the team, were allocated to the descendants of Ralph Brizzolara, an early general manager and Halas’ business partner. This minority stake reflected the team’s historical roots outside the Halas family. Class B: The Control Shares Class B shares, representing 49.35% of the team, were held entirely by George Halas Sr. to consolidate decision-making power. These shares were later transferred to the Halas Family Holding Company, maintaining operational authority within the Halas family. Class C: The Legacy of Mugs Halas Class C shares, totaling 19.68%, were held by the estate of George “Mugs” Halas Jr. for his children, Christine and Stephen Halas. These shares later became the subject of legal battles and were eventually sold, with the McCaskeys exercising their right of first refusal. Class D: Virginia McCaskey and Her Children Class D shares, also comprising 19.68%, were held by Virginia McCaskey and transferred to the McCaskey Family Holding Company, ensuring her children’s ongoing stake in the team and cementing her family’s leadership role. This intricate stock structure, designed by Halas, ensured that control of the Chicago Bears remained firmly within the family while limiting external influence. Yet, the complexity of these arrangements also created challenges, particularly as NFL rules evolved to govern ownership structures. These rules, shaped in part by cases like the Bears', highlight the league's emphasis on maintaining family control while balancing operational stability. https://x.com/wgfinley/status/1872981811799756990 The Mugs shares are now in McKenna/Ryan hands in some percentage. Brizzolara family may have sold off some percentage and Virginia now has about 3% more personally: Brizzolara down to 8.33 percent. |
- Kajagoogoo February 6, 2025, 16:06:28