News that Laura Ricketts would be leading a group of high-powered Chicago women in the purchase of the Red Stars was not met with immediate joy by the team.
“The initial reaction was to question: ‘Is this actually happening?” Arin Wright told the Sun-Times.
Wright was worried that reaction might shock some.
Truth is, though, after enduring the nearly two-year fallout from news reports detailing verbal and emotional abuse at the hands of former coach Rory Dames — and an owner who turned a blind eye to it — the players couldn’t celebrate the sale until the ink was dry.
That came Friday, as Ricketts officially became the new principal owner of the Red Stars, beginning a new era of NWSL soccer in Chicago.
“It’s been blow after blow after blow,” Wright said. “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.’”
Ricketts was paying close attention when news began circulating last fall that former owner Arnim Whisler was being asked by players and the team’s board of directors to step down.
Shortly after those public pleas, Whisler began the process of selling the club.
Ricketts told the Sun-Times she was there “from the very beginning,” and quickly began organizing a diverse women-led group of investors with a shared vision for the club's future.
Overall, the group is investing $60.5 million in the Red Stars. The purchase price of $35.5 million will buy out current owners; the remaining $25 million will be invested in the team.
When asked what that $25 million will be spent on, Ricketts said before the new owners do anything, they need to speak with players.
“I want to let them know what this group of women is about,” Ricketts said. “What motivates us. [I want to let them know] that we have their back and we’re going to start a brand new chapter and take this team into the future.”
There are questions Ricketts must answer soon, though, starting with whether the Red Stars remain in Bridgeview at SeatGeek Stadium, where they have a lease.
SeatGeek presents several challenges in building a strong fanbase. Most pressing is a lack of public transportation options for fans. 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 stadium is the challenge, slash opportunity,” Ricketts said. “The Red Stars have a lot of challenges, but the flip side of that coin is opportunity. We’ll have to look at it. I can’t really answer that right now. But it’s certainly a top priority.”
Ricketts’ commitment to the growth of women’s sports in the city is apparent on her resume. Earlier this summer, she was announced as part of a new group of investors joining the Chicago Sky ownership group.
On Aug. 20, Ricketts and Sidney Dillard, a fellow Red Stars investor, answered questions at a raucous Wintrust Arena during the Sky’s 79-73 loss to the Connecticut Sun, and made their intentions clear.
While equity and inclusion are pillars in the life’s work of every investor, Ricketts said the Red Stars are also an intelligent business opportunity.
“This league has the potential to break in terms of being a really successful business,” Ricketts said. “For me, personally, I’ve invested in a lot of things that focus on women and equity. This is in that sweet spot.”