Chicago Fire have been sold. From the team:
Last year, he purchased 49% of the Fire. The team then went about escaping their suburban stadium lease for $65.5m. Last week, the Chicago Park District gave the approvals for the Fire to begin playing at Soldier Field starting next year. It would seem Mansueto got involved with the Fire last year with a plan to get the team into the city - and once successful, he bought the whole damn thing.
Getting their own place in the city would be the next goal. Manseuto has the resources, connections, and a big ol' foot in the real estate market. The new mayor and city council have been pulling back from these major real estate projects following Rahm's wild Amazon proposal, a few new federal investigations of alderman, and two major, unpopular tax-payer-subsidized development projects that Rahm pushed through on his way out. But Manseuto has a generally positive local image, and if he can be patient and engaged with community stakeholders, he can make this happen.
Manseuto, who founded the business research company Morningstar, is worth a reported $3b. Since retiring from Morningstar in 2017, he has been busy buying up real estate across Chicago, so the Fire are keeping with a theme.Longtime Chicago Fire Soccer Club Chairman and Owner, Andrew Hauptman, today announced the sale of his controlling interest in the Club to Joe Mansueto. Effective immediately, Mansueto will take on the role of Chairman as sole owner of the Fire. Under Hauptman’s leadership, the Club also concluded an agreement with the Village of Bridgeview that allows the Fire to move back into the city of Chicago, and received approval from the Chicago Park District board to move toward an agreement that will enable the team to play its 2020 season at Soldier Field.
Last year, he purchased 49% of the Fire. The team then went about escaping their suburban stadium lease for $65.5m. Last week, the Chicago Park District gave the approvals for the Fire to begin playing at Soldier Field starting next year. It would seem Mansueto got involved with the Fire last year with a plan to get the team into the city - and once successful, he bought the whole damn thing.
Getting their own place in the city would be the next goal. Manseuto has the resources, connections, and a big ol' foot in the real estate market. The new mayor and city council have been pulling back from these major real estate projects following Rahm's wild Amazon proposal, a few new federal investigations of alderman, and two major, unpopular tax-payer-subsidized development projects that Rahm pushed through on his way out. But Manseuto has a generally positive local image, and if he can be patient and engaged with community stakeholders, he can make this happen.