CHICAGO, IL–An all-female group led by Chicago Cubs co-owner Laura Ricketts has closed the sale of the Chicago Red Stars for $60 million–a record for an NWSL club. The deal includes $35.5 million paid to the previous ownership group and the remaining $24.5 million being pumped into the club straight away to increase staff and improve training facilities.
“Our group of diverse women investors, some of the most prominent business and civic leaders in Chicago and beyond, brings unparalleled experience across professional sports, finance, turnaround management, commercial real estate, marketing and advertising, paired with deep community ties that make for a powerful combination to lead the club into a new chapter for players, our fans and the league,” said Ricketts in a letter to fans.
Ricketts’s first order of business is to meet with the players and listen to their concerns.
“They deserve more, and they’re gonna get it,” said Ricketts. “They’re gonna get it under this ownership group. Our very first meeting will be with the players and introduce ourselves, tell them what we’re about. Why we bought this team, why we’re interested in it. I think that’ll be a fairly brief introduction. The most important thing is I want to hear them. I want to listen to them, and I want to build a relationship with them. A relationship of trust and respect and those things take time, and I want to get started on it right away.”
The new ownership group also includes: Angela E.L. Barnes, chief legal officer of IDEO; Traci P. Beck, M.D.; Debra Cafaro, chairman and CEO of Ventas, Inc. and partner in the Pittsburgh Penguins; Laura Desmond, chair and CEO of smartly.io; Sidney Dillard, investment banker and partner at Chicago’s Loop Capital; Megan Murphy, owner, LaCrosse Milling Company; Editha Paras, non-profit executive; Col. Jennifer N. Pritzker, IL ARNG (Retired), founder of the TAWANI Enterprises Inc.; strategic communications consultant Hilary Rosen; Jessica Droste Yagan, partner and CEO of Impact Engine; entrepreneur Tom O’Reilly, and the Engelhardt Family.
Mrs. Ricketts is the sister of Chicago Cubs chairman Tom Ricketts and Col. Pritzker is the cousin of current Illinois Governor JB Pritzker.
“I am honored to be a part of this exceptional women-led ownership group for the Chicago Red Stars,” said Col. Pritzker. “I believe that each of the leaders involved will bring a powerful perspective that will both amplify and contribute to the team’s success.”
The club was put up for sale back in December after now-former owner Arnim Whisler faced backlash for his handling of abuse allegations against former head coach Rory Dames who resigned in 2021 and was given a lifetime ban by the NWSL for his actions. The Yates Report and a joint investigative report by the league and the NWSL Players Association detailed systemic abuse by Dames and Whisler’s complacency.
It is hoped that this begins a new era for the Red Stars who are currently bottom of the league in the NWSL, look odds on to miss the playoffs for the first time since 2014, and are bottom in NWSL Average Attendance.
“It’s been blow after blow after blow,” defender Arin Wright told the Chicago Sun-Times. “People can only take so many blows and hype themselves back up before they need something to be concrete in order to get excited again. That’s where this team is. We’re excited for the future and who it is. But in any kind of relationship, you can only get burned so many times until you say, ‘Let me take this slow.’”
One issue is SeatGeek Stadium and the current lack of public transportation options directly to the ground. The Chicago Fire paid over $65 million to break their SeatGeek lease and move games to Soldier Field, though the team still trains in Bridgeview.
The Red Stars play this Sunday at Washington Spirit (4pm CT, Paramount+) and return home Sunday, September 17th to take on Angel City FC (5pm CT, Paramount+).
