George Halas came 50 minutes from losing the Bears in 1933

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Edward "Dutch" Sternaman

Edward Sternaman (February 9, 1895 – February 1, 1973), better known as Dutch, was an American player, coach, and owner in professional football for the NFL's Chicago Bears.

During the 1910s, Sternaman and George Halas excelled on the Illinois Fighting Illini football team. In 1919, he was contacted by executives from the Arcola football team to assemble a roster strong enough to exact revenge on A. E. Staley's team following a 41–0 loss. Although Sternaman agreed and organized a roster, the Staleys were not present when they became aware of the plan. Staley later approached Sternaman to increase the team's competitiveness, but he declined as he was close to finishing his mechanical engineering degree at the University of Illinois at Urbana–Champaign.[1]

In 1920, Halas assumed control of the Staleys, and Sternaman was the first player to sign with the team.[2] During the 1920 season, Sternaman would rush for 11 touchdowns.[3] He was also known for his kicking prowess, finishing his career with 21 field goals and 28 extra points when including 1920.[4] When the team moved to Chicago in 1921, Halas sold 50 percent of the club to Sternaman.[5] At season's end, the two competed with agent Bill Harley for ownership of the Staleys, and were declared by the American Professional Football Association (now National Football League) as the team's owners in an 8–2 vote. The Staleys were renamed the Bears in 1922.[6] Joey Sternaman, Dutch's younger brother, also played for the team.

During the Great Depression, Sternaman lost money in bad investments, and arranged for Halas to buy out his share of the Bears. The agreement had a deadline for Halas to make final payment or lose everything he had invested to Sternaman. According to Halas, he made the final payment with just minutes to spare.

In the 1930s he coached at North Park University in Chicago.

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Edward “Dutch” Sternaman was a halfback on the 1920 and 1921 Staley football teams and one of only two players to start every exhibition and professional game both years. In the spring of 1922 he and George Halas co-founded the Chicago Bears football team and were equal partners of that franchise through the end of the 1931 season...

... Dutch went back to the University of Illinois in January 1920 and finished his degree while in February, Sternaman’s 1917 U. of I. teammate, the already graduated George Halas, accepted the Staley football coaching position and soon started working in the plant. In June 1920, Dutch began his employment with Staley’s and participated fully in company social and athletic activities while getting practical experience learning combustion engineering working in the boiler rooms for the next 16 months.

Staley’s first football game was against the Moline Tractors on Staley Field, October 3, 1920. At left half back, Sternaman rushed for all three of Staley’s touchdowns in its 20-0 victory and went on to score 75 of the team’s 155 points in the 13 games that season. The following year he also led the team in scoring.

When A.E. Staley gave up the sponsorship of the football program, Sternaman and Halas incorporated the Chicago “Bears” franchise on April 1, 1922 as the American Professional Football Association changed its name to the National Football League. The former Staley teammates were equal partners of the franchise and shared both management and coaching duties. On March 31, 1925 Dutch received a U.S. Patent for a special cleated football shoe that he then marketed. In addition to his sometimes coaching and administrative duties with the Bears, Dutch was also an active player for the team from 1922 through the 1927 season. On May 18, 1928, Dutch married Florence L. Brunkow of Dubuque, Iowa.

Both Sternaman and Halas also worked other jobs to support themselves, especially in the off season. Sternaman sold real estate and insurance, owned bulk oil service stations, was a salesman for Bauer and Black [sports] Supply Company and for a very brief time was manager of the newly-formed Chicago Blackhawk hockey team. Even with the signing of All-American “Red” Grange, the Bears had an increasingly difficult time breaking even. The Great Depression made things worse and the franchise could not support two families. In September 1931 Sternaman and Halas agreed to buy one or the other’s half of the team. According to the Sternaman family, the arrangement was that their bids would be sealed and that only Sternaman, Halas and their attorneys would be privy to the financial details. The agreement of the buy-out was that high man buys at his price. Halas submitted the winning bid of $38,000 and no one, except for those at the meeting, ever knew what Sternaman’s bid was.