with immediate effects as well as the long term.
The Fire joined Major League Soccer in 1997 as an expansion team and this year, when they began their second decade of existence, the club has a new owner.
After a number of weeks of waiting and speculation, the transaction was finalized and the Fire moved from the ownership of the Anschutz Entertainment Group (AEG) to Andell Holdings, a private investment firm also located in Los Angeles. The purchase price was not disclosed.
According to Andrew Hauptman, chairman and chief executive officer of Andell Holdings, the Fire are still in good hands while looking to achieve the aspirations of bringing a championship to the club, one of the strongest in the league.
"As a longtime soccer fan, I am so excited about our purchase of the Chicago Fire. Everyone at Andell, especially my wife Ellen and I, shares the Fire's commitment to tradition, honor, and passion," Hauptman said.
Hauptman thanked the facilities offered by AEG in securing the sale.
"Tim Leiweke and his team at AEG, Commissioner Don Garber and everyone at Major League Soccer, and Bridgeview Mayor Landek have been tremendously supportive of our ownership plans, and we're greatly appreciative of their cooperation and collaboration to successfully complete this transaction," Hauptman said.
While the new owners of the Fire emphasized the rise in the popularity of soccer in the USA as one of the motives that led them to purchase the club, AEG said they were looking to reduce the number of teams they control in the league. AEG still owns two teams in MLS, the LA Galaxy and current champion Houston Dynamo. Last year, AEG sold its interests in D.C. United.
"Selling the Chicago Fire was a very difficult decision for AEG," said Timothy J. Leiweke, president and CEO of AEG. "The team, its fans and the Chicago community have been a special part of Major League Soccer and AEG. Ultimately, the reason we agreed to sell the Fire was to reduce the number of teams operated by our organization. We believe that bringing in a new partner like Andrew and Andell will help the league and the sport continue to grow and become more successful."
MLS Commissioner Don Garber said he considers the arrival of Andell as another sign of the growth that the league is undergoing.
"As our group of owners continues to grow and diversify, Andell's investment further illustrates the strength of our business and the bright future that lies ahead," Garber said.
The Fire have won the MLS Cup on just one occasion, in their inaugural season of 1998. They've also claimed the U.S. Open Cup on four occasions, most recently in 2006.
While the changes that are proposed by the new owners can be implemented in a gradual manner, for now there is another hope for the Fire faithful -- that Hauptman will be able to attend as many games as his schedule allows to cheer on his new acquisition.
Raquel Ortiz is a contributor to MLSnet.com. This story was not subject to the approval of Major League Soccer or its clubs.
