Joe Mansueto - Morningstar - Chicago Fire co-owner

Chicago Fire chairman and owner Andrew Hauptman on Wednesday announced that Joe Mansueto, chariman of the Chicago-based Morningstar investment company, has acquired a 49 percent stake in the team.

Mansueto is the first new investor in the Fire since Hauptman purchased the team in 2007.

Hauptman will remain the club chairman and controlling shareholder, as well as its Governor on the MLS Board of Governors. Mansueto will become the club's vice chairman and Alternate Governor. Other terms of the transaction were not released.

“It’s hard to imagine a better partner for me and our club than Joe,” Hauptman said in a statement. “In addition to decades of experience as a respected business builder and leader, Joe brings a passion for soccer and cares deeply about the city of Chicago. After getting to know Joe over the past several months, it is clear we both share a common vision and ambition for the club and the enormous continued potential for Major League Soccer in Chicago.” 

The announcement comes three months after Chicago's home stadium announced a new stadium sponsor beginning with the 2019 season, when what is now Toyota Park will be renamed SeatGeek Stadium.

“Andrew has assembled a top-tier management team and dramatically increased the profile of the Chicago Fire Soccer Club, Major League Soccer and the game overall in the Chicago area,” Mansueto said in a statement. “I’m incredibly excited to partner with him to build on the club’s achievements. Soccer is a phenomenal game that continues to grow rapidly in the U.S. and around the world. I’m pleased to help fulfill the vision of bringing this premier team to the forefront of soccer in our country.”