A mutual fund industry billionaire, already a publishing and property entrepreneur, is now a big stakeholder in a hometown professional sports team.
founder and executive chairman Joe Mansueto
recently bought 49 percent of the Chicago Fire
soccer club, owner Andrew Hauptman confirmed
yesterday. Mansueto will become vice chairman and alternate governor for the soccer club. Pricing and terms of the deal were not disclosed.
The Chicago Sun-Times
, the Chicago Tribune
, and Crain's Chicago Business
all reported on the deal.
Hauptman, who is also chairman of the Chicago Fire, will continue to be the controlling shareholder and governor. He bought the team in 2007.
"Soccer is a phenomenal game that continues to grow rapidly in the U.S. and around the world," Mansueto states.
advised Mansueto Sports on the deal, while Covington Burling
provided legal advice. Moelis
advised Hauptman's Andell
on the deal, while Latham & Watkins
provided legal advice.
The soccer deal comes as Mansueto is buying
into the real estate business in a big way. He's already a publishing entrepreneur
, in addition to being the majority shareholder of investment research giant Morningstar. Forbes estimates
Mansueto's current net worth at $3.4 billion.
Neil Anderson, Managing Editor
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