Bears part owner dies at 93
A sad day in Chicago, as it's been reported that Andrew McKenna, longtime minority owner, and former Mcdonalds' chairman, has passed away at 93. This is undoubtedly a loss for the organization and a reminder that the hands of time don't stop, even for a franchise as historic as the Bears.
Now the big question is, what will happen to Mkenna's shares? He, along with Pat Ryan own a 19.7% stake in the Bears. Will those shares be bought up from within the organization? This is the first run of the fallout that will come when Virginia eventually passes. There have also been rumors that some of the younger McCaskeys are ready to sell.
The Bears put out a statement today on Mkenna, which reads as follows.
«THIS AFTERNOON WE LOST A FRIEND OF MORE THAN 40 YEARS TO OUR FAMILY AND THE BEARS,» SAID BEARS CHAIRMAN GEORGE H. MCCASKEY. «FEW PEOPLE HAVE HAD A LARGER IMPACT ON OUR GREAT CITY. ANDY SPENT HIS LIFE DEDICATED TO INSTITUTIONS ACROSS SPORTS, MEDIA, MUSEUMS, ACADEMIA, HEALTH CARE AND MORE SHARING HIS INSIGHTS AND LEADERSHIP. HIS GUIDANCE HELPED US MAKE SOUND BUSINESS DECISIONS, MOST RECENTLY WITH OUR SELECTION OF KEVIN WARREN AS OUR NEXT PRESIDENT & CEO. WE ARE GRATEFUL FOR HIS MANY CONTRIBUTIONS TO THE BEARS AND HIS WISDOM WILL BE MISSED. OUR PRAYERS ARE WITH HIS FAMILY.»
Mkenna and Ryan are credited with navigating the Bears through the death of George Halas in the 90s and helped increase the value of the Bears exponentially. His last decision was to hire Kevin Warren, a decision we all hope will carry his legacy into the future.
