The Chicago USL project just got a new owner and a major boost.
Chicago Cubs owner Tom Ricketts is buying a majority stake in the new expansion team, the Chicago Tribune reports.
Ricketts will enter into a joint venture with property developers Sterling Bay, who are working to build a 20,000 seat stadium near Bucktown as part of an expansive residential and commercial redevelopment of the area. The Lincoln Yards project was packaged as part of Chicago’s bid for Amazon’s second headquarters.
While full terms of the deal have not been disclosed, Sterling Bay is reportedly on the hook for building the stadium and will retain an ownership stake in the USL team, while Ricketts will be the majority owner.