Client: Chicago Red Stars
Source: Crain’s Chicago Business
Chicago Cubs co-owner Laura Ricketts is leading a group of women from the Chicago business and civic scene to buy the Chicago Red Stars for $35.5 million, a deal that stands to end a dark chapter for the National Women’s Soccer League franchise under founder and current majority owner Arnim Whisler. The Ricketts-led group today announced it has an agreement in principle to acquire the club and aims to close on the purchase this month. Terms of the deal were not disclosed, but a source familiar with the agreement confirmed the price tag and said it represents the valuation of the franchise, while the new owners also plan to invest an additional $25 million into the club’s soccer and business operations.