Laura Ricketts talks about buying the NWSL’s Chicago Red Stars: ‘I think we’re going to see more explosions’

The Chicago Red Stars are still mathematically in playoff contention despite sitting in 11th place in a 12-team league. Their push towards the end of the season has seen them remain part of the larger conversation surrounding the NWSL as the most competitive league in the world, with three wins in their last five games. Their most recent win against playoff contender Washington Spirit came just two days later The franchise was sold to new majority owner Laura Ricketts.

Ricketts, one of the first female and LGBTQ+ owners of a major U.S. professional sports franchise, is co-owner of the MLB’s Chicago Cubs and a minority investor in the WNBA’s Chicago Sky. She led a new ownership group of businesswomen and civic leaders with deep Chicago ties to complete a deal to purchase the Chicago Red Stars franchise from former majority owner Arnim Whisler. The former chairman put the team up for sale after the club was repeatedly investigated and named in multiple reports for abuse and misconduct during his tenure.

The new group is seen as a fresh start for a franchise that has suffered from structured disruption since its time in the NWSL, and their motivation to become involved with the Red Stars comes from their own deep love of the sport and desire to advance women’s football in particular in the Midwest.

“I truly believe we are at the beginning of a new era in women’s sports. It’s been an evolution, but honestly I think we’re going to see a bigger explosion soon,” she told CBS Sports.

“I think Chicago and the Midwest in general just have a very real, down-to-earth, honest, hard-working ethic. I think that’s the character of the Midwest. Hardworking, active, jumping in to help someone else. I I feel like this was taught to me by my parents and it inspired me. I aspire to be like that, and that’s just one of the things I love about Chicago and the people here.”

Find the right group

When Ricketts began examining her network and friendships for like-minded people to take ownership of, it was a nearly year-long process that began with the question of what would differentiate the group from others in the league.

“I love what they do in Angel City. All the celebrities they have, and not that celebrities can’t be real, but that kind of flashy possession is really exciting – but that wouldn’t work here in Chicago.” But I feel like we put together local celebrities , these are the hard-working, smart, creative, personable, kind, intelligent and powerful women we have assembled to lead this ownership group. So I feel like in some ways we did our best Midwest or our Chicago version of what they did there in building an ownership group.

The group is led by Ricketts but also includes Angela EL Barnes, IDEO’s chief legal officer; Traci P. Beck, MD; Debra Cafaro, chairman and CEO of Ventas, Inc. and partner of the Pittsburgh Penguins; Laura Desmond, Chair and CEO of smartly .io; Sidney Dillard, an investment banker and partner at Loop Capital in Chicago; Megan Murphy, owner, LaCrosse Milling Company; Editha Paras, nonprofit executive; Col. Jennifer N. Pritzker, IL ARNG (retired), founder of TAWANI Enterprises Inc.; strategic communications advisor Hilary Rosen; Jessica Droste Yagan, partner and CEO of Impact Engine; and entrepreneur Tom O’Reilly and the Engelhardt family.

“The people in our investment group are people I have known for a long time and are good friends. “I know that we too are passionate and in this for the right reasons, and that we are smart, creative and clever,” she said. “When we started down this path, you can point to all the smart people in your life who are passionate about this, and it’s not clear that they all want to invest. I don’t think it’s an obvious investment for women. I don’t think they’re invited to invest very often. I also think there’s the hurdle of assuming you have to be a billionaire to invest in professional sports. It’s not a liquid asset, it’s not without risk, etc. etc. But I have to say, there were a few people that I knew who were obviously the people that I would ask who I thought would be easy will be great owners.”

Turn survival into thriving

Although the club is still fighting for a playoff spot, they are also facing their worst ever season in the club’s history. The team has been one of the top four playoff teams since 2015, reached three title games (Challenge Cup and NWSL Championship) in the last three years, and still sneaked into the playoffs as a sixth seed in the 2022 postseason.

An unfortunate component of their previous culture was that of a team that excelled at the skills of its talented players with minimal resources while operating in a toxic environment created by managers. It’s a narrative that Ricketts wants to help change and that she and the new owners want to address immediately. By rebuilding relationships with players and fans within the organization.

When the final sale ended, the new majority owner was in the D.C. area during the Red Stars’ recent victory to give the players a quick introduction. As a first step in addressing the fragmented fan base, the ownership group also had an immediate letter to fans posted on the website. But those were just the first steps for Ricketts. There are several areas that require attention and more conversation for Ricketts.

“I do think we need to get in and really get involved to get a better feel for the situation. We know some things from our due diligence, and the fans know it, because there are some things we plan to address,” she said.

“I like to call them challenges/opportunities because there is always an opportunity and a challenge. I think after the players, though, I would say I want to talk to the entire staff and the staff and the front office to really get to know them and get a sense of how good this organization is with personnel Is provided. I wouldn’t hesitate to bet now that we need to increase staff.”

Immediate areas of investment

The final sale of the franchise closed at $60 million, with $35.5 million going to the former owners and the remainder earmarked for club operations. The club has been without a general manager since former player Michelle Lomnicki was fired. It was a firing that was ultimately resolved through litigation, and a position that only recently existed after former head coach Rory Dames served as dual coach and general manager. Dames was allowed to resign before allegations of abuse and mismanagement came to light, reported in the Washington Post.

Additional operations staff, sports managers and investments in current infrastructure are on Ricketts’ list of things to do for the new ownership group. They include both immediate and longer-term scenarios. The club must complete the 2023 season and prepare for an offseason that will see another double expansion and an NWSL Draft.

“We have to prepare pretty quickly for next season. I know that one of the things we need to do is invest in training facilities,” she said.

“We obviously have to hire a new sports director, a sports director or a GM, that will be an immediate concern for us. We’re already thinking about that. Then, I think ultimately, we’ll have some new leaders that we’re thinking about as well. The leadership structure and who and what that looks like and who might be able to fill those roles in a way that truly leads This team is moving forward in this new chapter.

The Red Stars currently play their games at SeatGeek Stadium in Bridgeview, Illinois. The Chicago Fire previously played there before breaking their lease to now play in Chicago at Solider Field. The Red Stars aren’t necessarily the primary residents of the Bridgeview facilities, as the Fire and their youth academies still train at the SeatGeek facilities. The MLS franchise has begun construction of a new training facility for 2024, but the Red Stars still have plans to essentially use the stadium as their home ground.

“I want to look at things like season ticket holders and corporate partnerships. Start with things that will immediately impact this team’s bottom line,” she said. “Then we start to look at some longer-term challenges. Not that we haven’t already done that, but I think it really comes down to the human contact, the relationships, understanding the nature of employees and the way we’re there.”