Thomas S. Ricketts
|Education||University of Chicago, B.A. 1988, M.B.A. 1993|
|Occupation||Chairman of the Chicago Cubs |
Chairman, Incapital LLC.
|Parent|| Joe Ricketts |
|Relatives|| Pete Ricketts (brother)|
Todd Ricketts (brother)
Laura Ricketts (sister)
|Awards||2016 World Series champion|
Thomas Stuart Ricketts (born May 23, 1966) is the Chairman of the Chicago Cubs,and the Chairman, co-founder and former CEO of Incapital LLC, a firm that provides securities firms and individual investors more efficient access to corporate bonds. Together with his sister Laura and brothers Pete and Todd, the Ricketts siblings serve as the board of directors for the Cubs. He is the son of TD Ameritrade Holding Corporation founder J. Joseph Ricketts. Joe Ricketts has a net worth of US$2.3 billion as of 2018 according to Forbes.
In January 2009, a Ricketts family bid led by Tom emerged as the winning bidder for the Chicago Cubs.The bid was estimated to total around $900 million for the team and related assets. In October 2009, the sale was approved unanimously by the owners of the other 29 Major League Baseball teams. Ricketts was introduced as the chairman of the Cubs on October 31, 2009. Tom Ricketts and his three siblings - Peter, Laura, and Todd share ownership of the team through their family trust.
Born in Omaha, Nebraska,Thomas Stuart Ricketts is the son of Marlene Margaret (Volkmer) and Joe Ricketts, who founded Ameritrade when Tom was eight years old. Joe Ricketts let it be known that he wanted his children to establish themselves through their own hard work and would not be allowed to join TD Ameritrade until they reached the age of 30.
Ricketts is one of four children. His brother J. Peter Ricketts, who lives in Omaha, is the 40th and current Governor of Nebraskaand was the unsuccessful Republican nominee for the 2006 U.S. Senate race in Nebraska. His younger sister, Laura Ricketts, is a former corporate lawyer. His brother, Todd Ricketts served as a board member of T.D. Ameritrade from 2011 to 2020 and currently serves on the board of Charles Schwab, is a former finance chair of the Republican National Committee and entrepreneur. Tom Ricketts and his wife Cecelia and their five children all live in Wilmette, Illinois.
In 1983, Ricketts moved to Chicago in order to attend the University of Chicago with his older brother Peter, also a student at the University of Chicago.Ricketts received a bachelor's degree from the university in 1988 and returned to receive his Master of Business Administration in 1993. Ricketts has given generous donations to the University of Chicago and established the 'New Year Scholarship Fund,' which awards an incoming student a full undergraduate scholarship.
In April 2007, Sam Zell announced his intention to acquire the Chicago-based Tribune Company. After acquiring the Tribune, Zell announced that he would sell the Cubs and related entities including Wrigley Field and a 25% share of SportsNet Chicago.Under bankruptcy protection, the sale of the Cubs and the 25% interest in SportsNet Chicago would raise needed funds for the ailing Tribune company. In a campaign led by Ricketts, the family was selected for the winning bid on January 22, 2009. Forbes estimated that the ownership stake in the Chicago Cubs represents $642 million out of the total $900 million bid made by Ricketts.
Tom Ricketts has said that his love for the Chicago Cubs started during the 1984 season when he was 18 years old and moved to Chicago to attend college. Later, Tom and his brother Pete lived in an apartment over the "Sports Corner" at Addison and Sheffield, across the street from Wrigley Field. He met his wife Cecelia in the Wrigley bleachers and simply states that "my family and I are Cubs fans".The bid was reviewed by Major League Baseball and other stake holders. Although several close friends told the press about Ricketts's deep love for the Cubs, the Ricketts family decided not to court media attention until the bid was accepted by all parties.
On July 6, 2009, the Chicago Tribune reported that Tom Ricketts and family had reached an agreement with the Tribune Company to purchase the Cubs, Wrigley Field, and 25% of Comcast SportsNet Chicago for close to $900 million, as was originally reported. The contract was sent to commissioner Bud Selig for approval.Final approval came by a unanimous vote of the other MLB owners in an October 6, 2009 conference call. On October 27, 2009, the Ricketts family, with Tom Ricketts as board chairman, officially took over 95% ownership of the Chicago Cubs, Wrigley Field, and 25% ownership of Comcast SportsNet Chicago. The Tribune opted to retain a 5% ownership stake in the team and the Chicago Cubs acquired the remaining stake in 2019.
Since acquiring the Chicago Cubs in October 2009, the Ricketts family placed a priority on renovating Wrigley Field. In 2014, the nearly $1 billion renovation project of Wrigley Field and the collateral land finally broke ground after winning city approval.
Besides preserving Wrigley Field, the objective was to also leverage the Wrigley investment to create a public space adjacent to the stadium that would function as a town square, offering year-round attractions for neighbors, families, fans and visitors.
On Opening Day of the 2017 season, with Cubs fans celebrating its first in a century role as the defending world champions of baseball, the Ricketts family delivered The Park at Wrigley. Chairman Tom Ricketts, president of business operations Crane Kenney, Chicago Mayor Rahm Emanuel, numerous elected officials, neighbors and community leaders cut the ribbon at the Park at Wrigley.
On March 30, the Ricketts family opened their first hotel, located on Clark Street, across from the front entrance of Wrigley Field.
"By the end of the 2018 off-season and next, our initial plan [will be] complete," said Ricketts, whose family bought the team from Tribune Company in 2009. "That doesn't mean we're done, because it's a 100-year- old ballpark. There will be something else we have to fix after that. But it will be great to have the major construction done a year from now. We'll get the upper-deck renovation done after the 2018 season, and that will really help the ballpark a lot."
Ricketts is the chairman, co-founder and former CEO of Incapital LLC.Ricketts spent one summer early in life working at TD Ameritrade, giving customers stock quotes over the phone.
When Ricketts finished undergraduate studies (1988), he joined the Chicago Board Options Exchange as a market maker. Ricketts held this position until 1994, shortly after finishing his MBA. From 1995 to 1996, he served as vice president with Mesirow Financial until moving to ABN AMRO as vice president in their brokerage division.Ricketts is credited with pioneering the idea of using the Internet and other technologies to help companies sell their investment-grade bonds directly to retail investors, as opposed to limiting sales only to institutions. He helped launch the first version of this system while at ABN AMRO. In 1999 he left ABN AMRO to found Incapital.
Thomas Ricketts co-founded Chicago-based Incapital LLC in 1999.The securities and investment banking firm has since expanded with two additional offices in Boca Raton, Florida and London, England. Ricketts served as Incapital Chairman. Forbes describes the company as a "technologically-oriented investment bank focused exclusively on the underwriting and distribution of fixed income products to individual investors. Incapital underwrites for several major U.S. corporations through its InterNotesSM product platform."
In Feb. 2021, Incapital announced it was merging with 280 CapMarkets to create a new fintech, InspereX, with a mission of "improving fixed income distribution and trading for all market participants."The merger was completed in July 2021. Post-merger, Ricketts serves as chairman of the board of InspereX.
The Chicago Cubs are an American professional baseball team based in Chicago. The Cubs compete in Major League Baseball (MLB) as part of the National League (NL) Central division. The club plays its home games at Wrigley Field, which is located on Chicago's North Side. The Cubs are one of two major league teams based in Chicago; the other, the Chicago White Sox, is a member of the American League (AL) Central division. The Cubs, first known as the White Stockings, were a founding member of the NL in 1876, becoming the Chicago Cubs in 1903.
Wrigley Field is a Major League Baseball (MLB) stadium located on the North Side of Chicago, Illinois. It is the home of the Chicago Cubs, one of the city's two MLB franchises. It first opened in 1914 as Weeghman Park for Charles Weeghman's Chicago Whales of the Federal League, which folded after the 1915 baseball season. The Cubs played their first home game at the park on April 20, 1916, defeating the Cincinnati Reds 7–6 in 11 innings. Chewing gum magnate William Wrigley Jr. of the Wrigley Company acquired the Cubs in 1921. It was named Cubs Park from 1920 to 1926, before being renamed Wrigley Field in 1927. The current seating capacity is 41,649. It is actually the second stadium to be named Wrigley Field, as a Los Angeles ballpark with the same name opened in 1925.
The Steve Bartman incident was a controversial play that occurred during a baseball game between the Chicago Cubs and the Florida Marlins on October 14, 2003, at Wrigley Field in Chicago, Illinois, during Major League Baseball's (MLB) 2003 postseason.
Wrigley Rooftops is a name for the sixteen rooftops of residential buildings which have bleachers or seating on them to view baseball games or other major events at Wrigley Field. Since 1914 Wrigley roofs have dotted the neighborhood of Wrigleyville around Wrigley Field, where the Chicago Cubs play Major League Baseball. Venues on Waveland Avenue overlook left field, while those along Sheffield Avenue have a view over right field.
The Curse of the Billy Goat was a sports curse that was supposedly placed on the Chicago Cubs Major League Baseball (MLB) franchise in 1945, by Billy Goat Tavern owner William Sianis. The curse lasted 71 years, from 1945 to 2016. During game 4 of the 1945 World Series at Wrigley Field, Sianis's pet goat, named Murphy, was bothering other fans, and so the pair were asked to leave the stadium. Outraged, Sianis allegedly declared, "Them Cubs, they ain't gonna win no more", which had been interpreted to mean that the Cubs would never win another National League (NL) pennant, at least for the remainder of Sianis's life.
William Mills Wrigley Jr. was an American chewing gum industrialist. He was founder of the Wm. Wrigley Jr. Company in 1891.
Thomas M. Tunney is an American politician and entrepreneur from Chicago, Illinois. Since 2003, he has served as an alderman on the Chicago City Council. He represents the prominent 44th Ward of the city, which includes major tourist destinations, Boystown and Wrigleyville neighborhoods. He was elected vice mayor in 2019.
John Joseph Ricketts is an American businessman and philanthropist. He is the founder, former CEO and former chairman of TD Ameritrade. He has a net worth of US$2.7 billion as of 2019 according to Forbes. He has pursued a variety of other entrepreneurial ventures including DNAinfo.com, High Plains Bison, The Lodge at Jackson Fork, and The American Film Company. Ricketts also engages in philanthropy through The Ricketts Art Foundation, Opportunity Education Foundation, The Cloisters on the Platte Foundation, and The Ricketts Conservation Foundation.
John Peter Ricketts is an American politician and businessman, serving as the 40th governor of Nebraska since 2015. He is a member of the Republican Party.
TD Ameritrade is a stockbroker that offers an electronic trading platform for the trade of financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, forex, options, mutual funds, fixed income investments, margin lending, and cash management services. The company receives revenue from interest income on margin balances, commissions for order execution, and payment for order flow.
The following is a franchise history of the Chicago Cubs of Major League Baseball, a charter member of the National League who started play in the National Association in 1870 as the Chicago White Stockings. The Chicago National League Ball Club is the only franchise to play continuously in the same city since the formation of the National League in 1876. They are the earliest formed active professional sports club in North America, predating the team now known as the Atlanta Braves by one year. In their early history, they were called in the press the White Stockings, Orphans, Infants, Remnants and Colts before officially becoming "Cubs" in 1907.
NBC Sports Chicago is an American regional sports network that broadcasts regional coverage of professional sports teams in the Chicago metropolitan area, as well as college sports events and original sports-related news, discussion and entertainment programming. It is branded as part of the NBC Sports Regional Networks.
The 2009 Chicago Cubs season was the 138th season of the Chicago Cubs franchise, the 134th in the National League and the 94th at Wrigley Field. The Cubs, attempting to win the NL Central division for the third consecutive season, fell short by finishing in second place with a record of 83–78.
Founded in 1999 by Chairman Thomas S. Ricketts(also Executive Chairman of the Chicago Cubs), Incapital LLC is a distributor, underwriter and educator of securities and risk management investments. Since its inception, the firm has represented over 300 issuing entities and currently serves more than 800 distribution partners including broker-dealers, banks, wealth managers and institutional investors.
Laura Marie Ricketts is an American political activist and former attorney who is co-owner of the Chicago Cubs. Ricketts is also a board member of Lambda Legal and the Housing Opportunities for Women organization. Ricketts' ownership stake in the Cubs makes her the first openly gay owner of a major-league sports franchise.
Since purchasing the Chicago Cubs baseball team and Wrigley Field in 2009, the Ricketts family have been pursuing an extensive renovation of the stadium and the surrounding venue. At its outset, the 1060 Project was projected to cost $575 million and was to be completed in four phases during consecutive off-seasons. Funding was generated from advertising revenue and increased corporate sponsorship in the form of additional signage placed in and around the stadium.
Todd M. Ricketts is an American businessman and politician who is a co-owner of the Chicago Cubs, a member of the TD Ameritrade board of directors, and the current Republican National Committee Finance Chairman.