Cole McBee is opening up about where his family’s finances stand today amid Steven McBee Sr.’s prison sentence. Throughout The McBee Dynasty: Real American Cowboys Season 3, the McBee brothers have been open about their struggles with paying off their family’s debts. But, according to Cole, things are looking up for them financially.
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The McBee Dynasty: Real American Cowboys airs Mondays at 9 p.m. ET on Bravo. Episodes stream next day on Peacock.
Cole appeared on Watch What Happens Live with Andy Cohen on July 6, where he revealed that the family has been making progress with their financial situation. But they are still running into challenges. “To say we’re out of everything would be a lie,” he admitted. “We’re still going through it, we’re still working through it, and there’s still hurdles to get over.”
“But, we’re in a much better place than we were yesterday, and we’re in a whole lot better spot than we were last year, so that’s all we can do,” he noted.
Although the brothers have sold off property to help pay for the debts, Cole admitted to Andy Cohen on WWHL that it was only part of the solution. “That solved a lot of the problems, but there’s still some problems out there,” he stated. “But we’re getting them solved, and we’re moving in the right direction every day.”
Steven McBee Jr. opens up about selling the McBee Farm & Cattle Co’s headquarters
During The McBee Dynasty Season 3, Episode 1, Cole’s oldest brother, Steven McBee Jr., made the decision to sell the McBee Farm & Cattle Co.’s headquarters, which included their grain bins, their shop, and their aviation building. This decision was made in the wake of Steve Sr.’s sentence to 24 months in prison and having to pay back $7 million in fines and restitution. “My dad facing a $7 million fine is hard to even fathom,” Steven Jr. said in a confessional. “That’s a ton of money that we do not have.”
While Steven Jr. was upset about selling their headquarters, he was optimistic about the pay off. “As much as I hate to do that, that is the only path forward where we can keep the main farm and all our houses,” he explained during the episode. “Let’s cut down the debt, get the banks to breathe a little bit and to stop blowing us up, so then we can focus on the actual business.”
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Cole McBee shares what’s next for McBee Farm & Cattle Co.
The brothers have been focusing on the family business while paying off their debts. Cole spoke with Bravo Insider in June, where he revealed that the farm will now focus on their cattle operations and is looking to expand. “I’d just like to grow our cattle herd,” he said. “We’re not farming anymore, but just grow our farm in acres. Obviously, between our cows, I’d like to double our pasture, be able to double our herd in the next five years, is my plan.”
“I think everyone’s pretty in line with that,” he added. “It’s a lot easier said than done, you know. We’ve got to get some money to buy some land, get some more pasture..That’s our big plan over the next five years is to really grow our cattle herd even more.”
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See what Cole told Bravo Insider about Steve Sr.’s life in prison.
