Wednesday September 27, 2023

Chicago Cubs, Sky Co-Owner Set To Acquire NWSL’s Red Stars

  • Laura Ricketts expands Chicago pro sports empire
  • Deal ends controversial tenure of outgoing owner Arnim Whisler
Daniel Bartel-USA TODAY Sports
Front Office Sports Today

Taylor Swift Takes NFL to New Heights

Taylor Swift and her rumored relationship have brought in a new, more female-heavy audience.
Listen Now
September 27, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

One of the most prominent pro sports team owners in Chicago is expanding her local empire.

A group led by Laura Ricketts, co-owner of MLB’s Cubs and a minority owner of the WNBA’s Sky, has reached an agreement in principle to purchase the NWSL’s Chicago Red Stars from outgoing owner Arnim Whisler.

Industry sources pegged the deal at up to $35.5 million — a robust number, as the NWSL continues to grow, but no match for the $53 million expansion fee paid for Bay FC.

The deal brings a much more prominent and public sports ownership role for Ricketts. Though part of the Ricketts family’s purchase of the Cubs in 2009, Laura Ricketts has been far less in the limelight than her brother Tom, the team’s executive chairman. She has led the Cubs’ philanthropic efforts as the chair of Cubs Charities.

Ricketts just bought a minority share of the Michael Alter-led Sky in June along with several other investors, solidifying a long-developing interest. But with the Red Stars, she will be the lead of an investor group including several local and international business leaders, including Ventas CEO Debra Cafaro, part of the Pittsburgh Penguins’ ownership led by Fenway Sports Group.

An original NWSL franchise, the Red Stars have been league runner-up in 2019 and 2021. The club was put up for sale late last year after Whisler was found to be part of a pattern of abuse and sexual misconduct within the league. 

The Ricketts deal, still pending league approval, is several months behind an intended timetable.

“There is unprecedented fan growth in women’s soccer globally, and we want to be part of building that momentum here in Chicago,” Ricketts said.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Taylor Swift at Chiefs vs. Bears game.

Taylor Swift NFL Hype Likely To Continue Another Week

Swift could drive blockbuster TV ratings for NBC's "Sunday Night Football."

Lillard And Giannis Pairing Could Be Big For The NBA, Too

Bucks to be featured on national TV 19 times this season

Bay Area WNBA Expansion Latest Step In League Growth

A new team is reportedly coming to the Bay Area.
Olympique-Lyonnais

French Soccer Club Lyon Seeking $300M Capital Raise

The club was sold for a record price last French year.
podcast thumbnail mobile
Front Office Sports Today

Taylor Swift Takes NFL to New Heights (w/ Andrew Brandt)

0:00
0:00

Featured Today

Magic Johnson Open To Knicks Minority Ownership Stake

Basketball Hall of Famer only interested in specific NBA franchise
Golden State Warriors majority owner Joe Lacob walks alone the baseline during the third quarter against the Los Angeles Clippers at Chase Center.
September 27, 2023

Warriors Owner Reportedly Adding A Bay Area WNBA Franchise

An official announcement could come as soon as early October.
NFL concussions
September 27, 2023

The NFL’s $1B Battle Over Concussion Settlement Heats Up

The NFL is seeking at least $1.2 billion from its risk carriers.
September 26, 2023

NFL's Swift Mania Starting To Show Impact Through Merch Sales, Viewership

Taylor Swift stole the NFL's spotlight by attending Sunday's Chiefs game.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
Golden State Warriors GM Mike Dunleavy Jr. recognizes the impact the NBA’s new second tax apron rule could have on his organization.

Warriors GM Feels ‘Targeted’ With NBA’s New Tax, Rest Rules

"They're making rules to prevent you from succeeding,” Mike Dunleavy said.
September 26, 2023

Fire Owner Mansueto Bets On Messi To Elevate His Own Team

MLS team owner plans series of promotions, game enhancements
A Chicago Bears helmet.
September 26, 2023

Arlington Heights Looks To Break Stadium Logjam With Bears

Village board cites striking Bears deal as its top priority
A view of a Manchester United badge on the corner flag.
September 26, 2023

Ratcliffe Reworking Bid To Buy Manchester United

It is still unclear whether the Glazers will sell the club.
September 26, 2023

Sounders Eye Leaving Lumen Field For Soccer-Specific Stadium

MLS club considers further development at forthcoming training complex
September 25, 2023

Commanders Still Face Legal Fight Over Former Name

Team, owner accused by non-profit of defamatory conduct
Rob-Manfred-MLB
September 25, 2023

Oakland-MLB Relationship Devolves Into Next-Level Toxicity

Commissioner, mayor have very different accounts of July meeting
Jacksonville Jaguars Team President Mark Lamping addressed community members at Strings Sports Brewery on Main Street for the first of 14 planned town hall sessions to present the team's plans for the new "stadium of the future" complex and address the public concerns.
September 25, 2023

Jacksonville Jaguars President Walks Back Stadium ‘Threat’

"Viewing those comments as a threat to leave Jacksonville isn't correct."