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From the Red Stars to Chicago Stars FC: How Laura Ricketts Is Rebuilding a Women’s Soccer Club Through Capital, Governance, and Civic Power
First, the most important factual correction: Laura Ricketts is not the original founder of Chicago Stars FC. The club’s public history states that its predecessor, the Chicago Red Stars, was established in 2007, joined the early Women’s Professional Soccer setup, and later became one of the original eight NWSL clubs in 2013. Laura Ricketts entered the picture much later, when the investor group she led closed on the acquisition on September 1, 2023. The more accurate description of her role is therefore: re-builder, lead owner, and architect of the club’s new phase, not founder in the 2007 sense. In one sentence, Laura Ricketts’ real position in American sports and public life is this: she is someone who links family capital, Chicago civic networks, LGBTQ political organizing, women’s leadership platforms, and professional sports ownership into one operating system. Her public roles span Chicago Cubs co-owner, Chicago Stars FC lead owner and executive chairperson, chair of Chicago Cubs Charities, co-founder of Beyond Barriers, longtime LPAC leader, and a figure embedded in Democratic, philanthropic, cultural, and women’s sports circles in Chicago and beyond. That multi-node identity is itself her strongest source of influence. If the focus is only on Chicago Stars FC, the most important shift under her ownership is not simply “new ownership,” but a move from a legacy league club burdened by institutional scandal toward an organization trying to do three things at once: rebuild player safety and internal culture, rebuild commercial and brand strength, and move from a relatively fragile venue situation toward more durable home-field and training infrastructure. Since the 2023 purchase, the club has brought in Karen Leetzow, Kay Bradley, and Cate McManmon, completed a rebrand in 2024, staged a landmark Wrigley Field event in 2024, and announced a club-owned performance center for 2027. On family background, the exact birth date is not stably disclosed across her official biographies, so the most rigorous phrasing is: public information is limited / inconsistent / not currently confirmable. What is much clearer is that she grew up in Omaha, Nebraska, one of four children of Joe Ricketts and Marlene Ricketts, with brothers Pete Ricketts, Tom Ricketts, and Todd Ricketts. Her family was not originally old-money aristocracy. Laura herself has described the household as heavily male-dominated, and the family’s wealth accelerated after her father Joe Ricketts co-founded First Omaha Securities in 1975, the business that eventually became TD Ameritrade. That matters, because it means she came out of a Midwestern, conservative, entrepreneurial, male-dominated family that later became very wealthy, not from a traditional dynastic elite background. This context helps explain both her comfort inside male-dominated institutions and her unusually sharp awareness of how capital shapes rules. She has said that she was a standout softball player in the post–Title IX era, and she explicitly connects that athletic experience to her comfort in later working in baseball and politics. That makes her women’s sports investing story more than a late-stage market bet. It also has a personal and generational foundation. Another defining feature of her upbringing is political divergence inside the family. Joe, Pete, and Todd Ricketts have all been tied in visible ways to Republican politics. Laura Ricketts became the opposite pole: a Democrat, an LGBTQ advocate, and a women-focused political fundraiser and organizer. Media profiles repeatedly frame her as the family outlier. That position gives her both access to elite family resources and a distinct public narrative separate from the broader Ricketts political brand. On education, newer official biographies consistently state that she earned a B.A. in Philosophy from the University of Chicago and a J.D. from the University of Michigan Law School. But the exact year of her undergraduate completion is not entirely consistent in public sources. Some newer bios omit the year altogether, while an older profile said she initially studied economics, left, and later returned to finish philosophy. The most careful wording is therefore: she received undergraduate education at the University of Chicago and completed a philosophy degree there; the exact completion year is inconsistently reported; she later completed her J.D. at Michigan Law. That educational mix helps explain her later career. Philosophy tends to train people around norms, values, argument, and systems; law adds structure, transactions, governance, and rules. Her public career has never looked like that of a pure operator from inside one sports industry lane. It looks much more like the career of someone trained to connect institutions, capital, governance, and social narratives. That is an inference from her educational and professional path, but it is a strong one. Her first clearly representative professional role was as a corporate and securities lawyer at Schiff, Hardin & Waite, working on mergers and acquisitions, restructurings, and general corporate and securities matters. That matters because it shows she did not begin as a family-office heir moving directly into sports, but as a high-threshold professional in a conventional elite field. She still places that lawyerly stage near the front of her self-description, suggesting it remains a core part of her professional identity. She later left legal practice and co-founded Ecotravel LLC, which operated Ecotravel.com. Public descriptions frame it less as a traditional travel business and more as an early internet information-and-directory platform focused on ecotourism. One profile notes that The Wall Street Journal selected Ecotravel.com as a top ecotourism website in 2002. That is revealing: her first entrepreneurial move was not into law-adjacent services, but into a niche content-and-platform model. Very early on, she was already experimenting with the productization of ideas and influence. Her entry into major sports assets came through the Ricketts family acquisition of the Chicago Cubs. On October 27, 2009, the family took over the Cubs, Wrigley Field, and related media interests in a transaction valued at $845 million. Laura joined the Cubs board as part of that ownership structure. Unlike Tom Ricketts, whose public role became much more visibly operational, Laura’s public-facing work in the Cubs ecosystem has leaned more toward community relations, government relations, philanthropy, and inclusion. The path into her current core field—women’s sports plus public-interest advocacy plus organizational governance—happened in stages. First came the move from law into entrepreneurship. Then came professional sports ownership through the Cubs. Then came her rise in LGBTQ and Democratic political organizing through Lambda Legal, LPAC, and donor networks. Finally, she brought those accumulated capabilities into women’s professional sports through the Chicago Sky and Chicago Stars FC. This was not a straight-line industry climb. It was a multi-system assembly. Her core “real assets” appear to fall into four main buckets: Chicago Cubs ownership and board participation; Chicago Stars FC lead ownership and executive chair role; a minority stake in the Chicago Sky; and co-founder/director status at Beyond Barriers. Cubs and Stars are core sports assets, Sky is a complementary women’s sports investment, and Beyond Barriers is a platform-style private business. The precise percentages of her holdings in these entities are not fully disclosed in the public materials reviewed. Her “influence assets” are just as important. Public materials tie her to Chicago Cubs Charities, LPAC, Lambda Legal, Housing Opportunities for Women, Opportunity Education, the Obama Foundation Inclusion Council, and the Kennedy Center Board of Trustees. Some of these are formal governance roles, some are leadership councils, and some are longstanding donor-and-advocacy commitments. They are not necessarily tradable balance-sheet assets, but they generate reputational capital, issue-based authority, political ties, and civic standing. LPAC is central to understanding her influence architecture. Around 2012, she and others helped build what became a national organization dedicated to LGBTQ women’s political power. LPAC later described itself as the only national political organization focused on electing LGBTQ women and nonbinary people, and Laura held a leadership role there for years. Her logic was explicit: queer women were not meaningfully centered in donor rooms, so they needed to organize as a real bloc. That same logic—representation must be built structurally, not just celebrated rhetorically—also shows up in her sports ownership. Beyond Barriers is the clearest case of Laura Ricketts turning values and network into a real commercial product. The company describes itself as a professional development or “career fitness” platform serving people-powered businesses, with measurable goals around revenue, retention, and engagement. In other words, this is not simply philanthropy. It is a B2B platform that sells leadership and advancement infrastructure to companies. Laura’s role there is not just symbolic. She appears as a co-founder, board director, issue-framer, and credibility anchor. Her capital and partnership structure operates in two concentric circles. The inner circle is the Ricketts family sports-and-business network, centered on the Cubs, Wrigley, sponsor access, and Chicago business relationships. The outer circle is the Chicago women’s civic, business, and philanthropy network, which became especially visible in the 2023 Red Stars acquisition. The official ownership list included leaders from law, medicine, real estate, banking, adtech, impact investing, nonprofit leadership, and civic strategy. That ownership roster is itself a statement of method: not a lone-owner story, but an attempt to put a city’s women-led power network inside the cap table. Chicago Stars FC’s club history matters because it explains why Laura Ricketts entered when she did. Public club history states that the Red Stars were founded in 2007, were part of the early WPS architecture, and became one of the original eight NWSL clubs in 2013. This was not a start-up from scratch. It was a legacy brand with history, supporters, accumulated civic meaning, and painful institutional damage. Before Ricketts, the deepest crisis was not on-field performance but institutional governance tied to the Rory Dames and Arnim Whisler era. The Washington Post reported in 2021 that players had been trying for years to call attention to verbal and emotional abuse; the Yates findings later made clear that player surveys in 2014 and 2015 had already labeled Dames “abusive” and “unprofessional,” and that Whisler was accused of being aware of serious concerns while still allowing Dames to remain in place. In January 2023, the NWSL permanently banned Dames, fined the Red Stars $1.5 million, and required Whisler to complete the club sale promptly. Laura Ricketts’ acquisition happened directly in the aftermath of that governance collapse. On September 1, 2023, the Ricketts-led investor group officially closed the deal at a reported $60 million valuation. What is striking is that her first public emphasis was not on broadcasting rights or commercial upside, but on culture, excellence, accountability, player safety, and player support. That is materially different from the standard language of sports acquisitions. Her opening priority was restoring trust and legitimacy. The ownership structure is one of the most distinctive parts of the deal. The official release listed co-investors including Angela E.L. Barnes, Traci P. Beck, Debra Cafaro, Laura Desmond, Sidney Dillard, Megan Murphy, Editha Paras, Jennifer N. Pritzker, Hilary Rosen, Jessica Droste Yagan, Tom O’Reilly, and the Engelhardt Family. These are not purely sports investors. They come from design, healthcare, office and senior-housing real estate, investment banking, impact investing, and high-level civic leadership. The roster itself shows how Ricketts approached the club: as a women-led urban power consortium, not just a franchise purchase. After the acquisition, Ricketts moved quickly to rebuild management. In November 2023, the club hired former U.S. Soccer chief legal officer Karen Leetzow as president. That mattered symbolically because Leetzow had worked through U.S. Soccer’s abuse-response reforms and equal-pay negotiations. In March 2024, the club hired former U.S. Soccer marketing executive Kay Bradley as chief marketing officer. In November 2024, former Cubs strategy and corporate development executive Cate McManmon joined as chief strategy and finance officer. The logic is clear: governance repair, brand repair, and growth discipline were treated as parallel priorities. The biggest public brand decision came on October 23, 2024, when the club announced the move from Chicago Red Stars to Chicago Stars FC. The team presented the change as its first major brand transformation in nearly twenty years and said the new identity still honored Chicago’s civic imagery. But the reaction was clearly mixed. Some welcomed a break from the old era. Others argued that “Red Stars” had history and a voter-backed identity that the new name diluted. This was not just a logo change. It was a dispute over how much history a rebuilding club should keep versus deliberately leave behind. The most concrete investments under her era fall into two categories. The first is venue and infrastructure. In June 2024, the club staged its first Wrigley Field match against Bay FC and drew 35,038 fans, setting what the club described as a new NWSL single-match attendance record at the time. In 2025, the club took a marquee match to Northwestern Medicine Field at Martin Stadium, and in 2026 it made that venue its full-season home. In January 2026, the club announced that its first privately owned and operated performance center in Bannockburn would open in 2027. The second category is commercial and community build-out. Wintrust became what the club called the largest partnership agreement in its history; that sponsorship expanded into youth clinics, camps, and community work. By 2026, partners also included Blue Cross Blue Shield of Illinois, CDW, Nellaspec.com, LaCroix, and StubHub. The rebuild has not been linear. On the sporting side, Lorne Donaldson took the club from last place in 2023 back to the playoffs in 2024, but he was dismissed in April 2025 after a 1–5 start. In August 2025, the club named Martin Sjögren as its next head coach. Then, in May 2026, general manager Richard Feuz departed, reopening a key leadership search. So while the commercial and infrastructure agenda has advanced quickly, football-operations stability was still being formed as of mid-2026. Laura Ricketts’ business model is not “make money from one team.” It is a layered system that combines sports equity, philanthropic legitimacy, political fundraising power, LGBTQ and women’s leadership advocacy, and a corporate leadership platform. Sports ownership gives visibility and civic reach. Advocacy gives moral authority and ally networks. Political fundraising gives national-density relationships. Beyond Barriers turns the broad value proposition of representation and advancement into a paying business product. Her real strength lies in how these pieces reinforce one another. In revenue or long-term value terms, at least five lines are visible. First, equity appreciation in professional sports, especially women’s sports, where valuations have climbed sharply. Second, team-level revenues from tickets, season memberships, sponsorships, hospitality, merchandise, and branded events. Third, longer-horizon sports-asset benefits through the Cubs ecosystem. Fourth, B2B revenue from Beyond Barriers. Fifth, indirect value from political and civic influence, which does not monetize as directly but strengthens her standing across sports and business. Her biggest turning points can be read as a timeline. The move out of corporate law and into Ecotravel showed she did not want to remain only a traditional professional. Entry into the Cubs ownership structure in 2009 put her inside major-league sports assets. LPAC in the early 2010s moved her from donor to organizer. The 2023 Red Stars acquisition marked the moment she shifted from being a woman owner inside a largely male family sports asset to personally leading a women’s professional sports franchise. The subsequent rebrand, Wrigley event, and performance-center plan show that she wants not merely to stabilize a distressed asset, but to rewrite its medium-term structure. The reasons she is most likely to be remembered operate on three levels. First, historic representation: she has been widely recognized as the first openly LGBTQ owner of a Major League Baseball franchise. Second, institution-building: she did not only donate into causes; she helped build enduring platforms such as LPAC and Beyond Barriers. Third, capital deployment into women’s sports: she is not merely a rhetorical supporter of women’s sports, but an investor across both WNBA and NWSL structures, bringing Chicago’s civic and business leadership into those ownership ecosystems. On negative information and criticism, the strict answer is that there does not appear, in the public record reviewed, to be a major ongoing legal or moral scandal centered on Laura Ricketts personally. But her main areas of criticism cluster in three places. First, she remains tied in public perception to a highly political and ideologically split family brand. Second, the Chicago Stars FC rebrand drew notable skepticism from parts of the fan base and media community. Third, because she inherited a franchise damaged by abuse and governance failures, her ownership group was always going to be judged against the question: can it truly change structures, not just language? These are not the same as personal scandal, but they are enduring reputational tests. As of July 2026, Laura Ricketts’ real-world position is relatively clear. She remains a Cubs co-owner and chair of Cubs Charities, and she is also the executive chairperson and lead owner driving Chicago Stars FC, while retaining her role in Beyond Barriers and her broader civic-political work. For the Stars, the visible fingerprints of her era are already concrete: a rebuilt executive team, the Wrigley attendance moment, a new home-field strategy, a broadened sponsor base, the girls-first Future Stars community programming, and a club-owned training center planned for 2027. In broader terms, she now sits at the intersection of women’s professional sports, Chicago elite civic networks, LGBTQ political organization, and the conversion of influence into durable assets. That is her actual place in the contemporary landscape.
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