NWSL's Red Stars bought by female ownership group led by Cubs co-owner Laura Ricketts
An ownership group led by Laura Ricketts, co-owner of the Chicago Cubs and a minority owner of the Chicago Sky, agreed to buy the NWSL's Chicago Red Stars. Ricketts and the NWSL confirmed the sale in subsequent news releases but the deal is still pending and requires approval by the NWSL Board of Governors.
Terms of the sale were not disclosed, but the club is believed to be worth up to $35.5 million, according to Sports Business Journal. The Washington Spirit sold for $35 million in early 2022.
Ricketts is joined by a “diverse group of Chicago women business and civic leaders" in the acquisition of the club, according to a statement.
“We wholeheartedly believe in and are excited about the future of the Red Stars and the NWSL,” Ricketts added in the statement. “There is unprecedented fan growth in women’s soccer globally, and we want to be a part of building on that momentum here in Chicago.”
That last line, plus Ricketts' Chicago ties, likely mean the club will stay in its current city. Ricketts and her family bought the Chicago Cubs in 2009 and she became a minority owner of the WNBA's Sky on June 6.
Here's the full release on Laura Ricketts leading an investor group hoping to purchase the Chicago Red Stars. Inner Circle leading the process, no terms disclosed, requires board approval. #NWSL pic.twitter.com/Tfdem67do4
— Meg Linehan (@itsmeglinehan) August 15, 2023
The NWSL called the group "exceptional leaders" in another statement.
This would seemingly end the saga around the Red Stars that began when former head coach Rory Dames resigned in 2021 after allegations of emotional abuse by players. Then-owner Arnim Whisler later agreed to sell the team after he was stepped down as chairman when the NWSL began its investigation into systemic misconduct around the league. The Red Stars were fined the most of any team — $1.5 million — and Dames was permanently banned from the league, along with three other coaches, after the NWSL concluded its investigation in January.
Chicago currently sits 11th in the NWSL standings with 16 points. The roster includes a couple of United States women's national team stars, including goalkeeper Alyssa Naeher and forward Mallory Swanson.
