Dan Bernstein Unfiltered

Episode: Bears worth $9 Billion (September 25, 2025)

Host: Dan Bernstein
Executive Producer: Matt Abbatacola

Main Theme & Purpose

This episode dives into three main topics:

• The record-setting $9 billion valuation of the Chicago Bears following an internal ownership stake sale
• On-field and off-field Bears talk, including analysis of head coach Ben Johnson’s press conference and the development of the Bears offense (especially Caleb Williams)
• A wide-reaching segment on Chicago baseball (Cubs, White Sox), with playoff updates, key player comparisons, and classic sports banter
  Interlaced are critiques of pop culture (South Park, movie trailers), and a discussion about the upcoming John Madden biopic.

Key Discussion Points & Insights

1. Chicago Bears Valued at $9 Billion (Starts ~04:14)

• News Recap: The NFL finance committee approved the sale of 2.35% of the Bears (from the Andrew McKenna estate), placing the team’s value at $8.91 billion—a new NFL minority-stake record.
• Ownership Distribution: McCaskey family now holds 77%; Ryan family, 23%.
• Context & Comparisons:
  • Previous record: 49ers, $8.6B; Eagles, $8.3B
  • Giants seeking a $10B valuation for a 10% stake
• Soldier Field Impact: The Bears are financially hamstrung by their obsolete stadium, receiving non-optimal operating income ($80M annual—lowest among top 10 franchises).
• Public Funding Controversy:

  "This kind of equity... is not going to endear them to the constituencies of the various legislators...to bend over backwards to provide any ongoing help, because it's not gonna happen. It shouldn't." — Matt, [10:12]

• Political Optics: Dan and Matt agree that public subsidies for stadiums are harder to justify with these sky-high valuations.

2. Bears' Upcoming Game: Fan Presence & Stadium Effect (Starts ~11:00)

• Fan Breakdown: At Allegiant Stadium vs. Raiders, estimated to be 50-60% Bears fans.
• Travel & Demand: Vegas as a destination is contributing to the high percentage of visiting fans.
• Game Experience Concerns:

  "Don't be surprised when you hear some cheering at some odd times..." — Matt, [12:43]

  • Possible confusion or disruption by Bears fans at away games, especially when noise hinders their own offense.

3. Ben Johnson’s Bears Press Conference Review (Starts ~14:29)

• Opening Remarks:

  "[Max Crosby is] in my opinion...a top five player in this league on defense and probably doesn't get the recognition he deserves...you got to account for him...or else he'll get you. He wrecks drives." — Ben Johnson, [14:29]

  • Extensive praise for Raiders' defense and head coach Pete Carroll; gives no bulletin board material.
• Honest Analysis:
  • Dan/Matt note how Johnson is carefully respectful, avoiding disparagement of the opponent’s weak O-line/defense.
• Caleb Williams' Development:

  "We can load up the game plan more each week...Week three was a lot more than week one, and hopefully that's our new normal..." — Ben Johnson, [17:00]

  • Johnson describes starting from scratch with Williams, equating the process to a rebuild instead of a mere remodel.

  • "This is a start from the base of learning...regardless of everything else." — Matt, [18:16]

  • Discussion points:
    • Johnson's "blank slate" approach
    • Discrepancy between Poles' "win now" roster moves and Johnson’s slower, developmental approach

Memorable Moment

"This remodel is more of a rebuild...now mold is there...the foundation is weak." — Dan, [19:29]

4. Team Motivation & Culture

• Press Accountability:
  • Query if Johnson must keep using motivational “call-outs” after last week’s success.

  • "How many times do you want me to say it? How many times do you have to call these guys out for being lazy?" — Matt, [21:30]

  • Johnson is guarded, suggesting team buy-in following his prior public criticism.

5. Offensive Struggles: The Run Game (Starts ~22:04)

• Johnson admits the run game is still not clicking—attributes issues to lack of cohesion and execution, particularly with DeAndre Swift and new O-line combinations:

  > "Our whole goal as a coaching staff is to get [backs] up to the third level...We haven't been doing that enough." — Ben Johnson, **[23:33]**
  

  • Matt and Dan push back, arguing the line is comprised of veterans and that Swift’s decision-making is the weak link.

    "My problems with DeAndre Swift are vision and decision making..." — Matt, [25:10]

  • Neither host sees Swift as part of the Bears’ long-term plans.

6. Cubs & MLB Pennant Race (Starts ~31:53)

• Cubs: Big win, wild card magic number drops to 2. Manager Craig Counsell updates on Cade Horton’s injury status.
• Playoff Picture:
  • AL: Toronto, Yankees clinch; Detroit, Cleveland race in AL Central
  • NL: Cubs, Padres, Mets in wild card chase

  • "Nico Horner...third in hits. Four behind Trey Turner and one behind Luis Arise; he's second in average..." — Dan, [37:16]

• Player Comparisons: Moises Ballesteros likened to ex-White Sox Warren Newson ("The Deacon").
• Historic Notes: Only two active MLB players with a career .300+ average: Luis Arraez and Jose Altuve.

Notable Quotes

• "Kyle Schwarber is on a Hall of Fame track, even if his WAR may be the lowest..." — Matt, [46:54]
• "Good for you, Darwin Barney, I'm proud of you." — Dan, [50:00]

7. Pop Culture: South Park, Movie Trailers, and the Madden Biopic (Interspersed; Madden section starts ~50:31)

• Disappointment with South Park:

  "She quit. Ten minutes in. She's like, 'This sucks, I'm going upstairs.'" — Matt, [00:07]

• Movie Skepticism:
  • Concern over upcoming Paul Thomas Anderson film and reliance on dubious early reviews.
• Madden Biopic Skepticism:
  • Nicolas Cage as John Madden, Christian Bale as Al Davis, John Mulaney as Trip Hawkins.
  • Dan struggles to picture Cage as Madden:

    "I'm not going to get past the fact that it's Nicolas Cage playing John Madden. I just can't." — Dan, [52:51]

  • Matt observes the new trend of movies about the "creation of a thing" (e.g., The Social Network, Air), where acting outshines the narrative.

Notable Quotes & Memorable Moments

• On Bears Valuation:
  • “This doesn't help the old PR campaign when all of a sudden you’re...a $9 billion sports franchise.” — Matt, [08:36]
• On Caleb Williams' “Remedial” Handling:
  • “He’s in there and this remodel is more of a rebuild.” — Dan, [19:29]
• On DeAndre Swift:
  • “My problems with DeAndre Swift are vision and decision making and where one meets the other.” — Matt, [25:10]
• On Cubs/MLB History:
  • “Kyle Schwarber is on a Hall of Fame track...” — Matt, [46:54]
  • “Good for you, Darwin Barney, I’m proud of you.” — Dan, [50:00]
• On Madden Biopic Casting:
  • “I’m not going to get past the fact that it’s Nicolas Cage playing John Madden.” — Dan, [52:51]

Timestamps for Key Segments

| Topic | Timestamp | |--------------------------------------------|-----------| | Bears’ $9 Billion Valuation | 04:14 | | Stadium Revenue & Public Subsidies | 09:12 | | Bears Fans in Vegas | 11:00 | | Ben Johnson Press Conference Analysis | 14:29 | | Caleb Williams’ Development | 16:25 | | Bears Run Game Critique | 22:04 | | Cubs Playoff Picture & MLB Banter | 31:53 | | Player Comparisons/WAR/Hall Discourse | 39:03 | | South Park & Movie Trailer Critique | 00:07 | | Madden Biopic Discussion | 50:31 |

Summary Table: Franchise Value Rankings Highlight

| Team | 2025 Valuation (B) | Operating Income (M) | |------------------------|--------------------|----------------------| | Dallas Cowboys | 13 | 629 | | New York Giants | 10 (seeking stake) | N/A | | Chicago Bears | 8.9 | 80 | | 49ers | 8.6 | N/A | | Eagles | 8.3 | N/A |

Tone & Style

Dan and Matt deliver their trademark mix of unfiltered honesty, biting humor, and deep-dive sports analysis. The episode flows freely from big-picture Bears business to chopped-up film and pop culture references, engaging both lifelong Chicago fans and national listeners.

For Listeners Who Missed It…

• The episode is a must for anyone interested in the business of pro football, the reality of Bears fandom (both financial and on-field), and how sporting narratives weave through both tradition and today’s pop culture.
• Expect sharp, back-and-forth repartee, detailed stats, and a cascade of quotable moments.
• Bears fans, especially those tracking team ownership, stadiums, and QB development, will find actionable insights and plenty of fodder for debate.

Additional Notes

• For more, Dan and Matt plug their “Forward Progress” podcast with special guest Mark Potash.
• Feedback Friday is previewed for tomorrow’s show, inviting listeners to engage with their commentary and mailbag.
• The show ends with quick banter on Cubs history, defensive stats, and a playful run-down of players with amusing, accidental “name” nicknames.

Episode delivered all the “unfiltered” you’d expect, with the stats, slaps, and smarts every Chicago sports nut craves.