The Bears' 30.2% valuation jump to $8.2B reflects Chicago's $2B stadium commitment and quarterback optionality under new GM Ryan Poles. Yet the franchise trades at a significant discount to comparable NFL markets—Dallas ($13.0B), New England ($6.8B on half the market size), and Kansas City ($5.5B with equivalent media reach). The McCaskey family's willingness to fund new infrastructure signals capital deployment discipline, but the valuation gain masks structural underperformance: the Bears' median revenue per capita remains below NFL quartile peers, and media rights cycles have not yet reset to reflect the post-2022 NFL tier-one pricing.