Chicago Cubs: A Closer Look at New Owner Tom Ricketts and the TD Ameritrade Holding Corporation

The Chicago Cubs were bought by a loyal, lifelong fan, for $900 million. The last team that was bought was the Atlanta Braves back in 2007. They were sold for half of what the Cubs are. Perhaps, now the Cubs can end this 100 year drought. What's the Chicago Cubs going to do in 2009?

Who is Tom Ricketts?

Graduating from the University of Chicago, Tom Ricketts remembers the many of nights that he spent cheering the Cubs on. In fact, at one time he lived above the very bar and grill that he frequented (where he watched the games). This was adjacent to the Wrigley's playing field. Something that he certainly recalls is when he was able to memorize stats from second baseman, Ryne Sanderg's, during his 1984 MVP season. These were the good times that he recalls, growing up as a Cubs fan.

Although Ricketts was raised in Nebraska, his family has always been Cubs fans. Purchasing the team has been a lifelong dream for not only him, but his entire family. There are still final steps that need to take place in this two year auction, for the Chicago Cubs. Final agreements with the other bidders and approval from Major League Baseball still need to be finalized.

When this is complete, a family that has been in hiding will step into the limelight. To include his wife Cece (whom he met in the Wrigley Field bleachers) and five children. Don't exspect him to be out in the field spitting smack trash. Most likely he will remain behind the scenes and just indulge in his lifelong dream of knowing he now owns this phenominal team. Unlike most of his fellow team owners, Tom Ricketts is a down to earth family man type. He prides himself as a good dad and husband.

What is TD Ameritrade Holding Corporation?

Joe Ricketts, the father of Tom, is the founder of TD Ameritrade Bank. Looking to purchase stock, you will notice that their symbol is NASDAQ: AMTD. The bank is currently offering stocks at $11.97. Getting back to the foundation of the bank. Joe Ricketts founded the bank in 1971, which soon grew into something big. In May of 1975, the bank became a discount brokerage firm. By 1983, the bank became a clearing broker.

By 1996, the name changed from TransTerra Co. to Ameritrade Holding Corporation. By December of 1997, TD Ameritrade Holding Corporation has successfully been named the company to have completed the largest client integration in U.S. history of the retail brokerage industry.

It All Began With a Head Start...

In 2007, when it was officially announced that the Cubs were up for sale, Rickett pretty much had a head start and began to put together his team of legal advisors so that he had a better chance at fulfilling his dream. To step out in faith with the hope of being the new Chicago Cubs owner, Tom Ricketts even began to befriend many of the other MLB franchise owners. Not only is this good business tactic, it is also required by Major League Baseball to have the approval of 23 out of 30 other franchise owners, before becoming a new owner.

The Rickett's family was not always a wealthy family. They have been through the school of hard knocks. It wasn't until about 1997, when the TD Ameritrade Holding Corporation went public, that the family gained wealth. The family has made over 50 millionaires throughout the life of the bank. To the family, that is success.

Even Tom's children were required to go to college and the three oldest have all graduated from the University of Chicago with graduate degrees. They were taught not to rely on the family's wealth and encouraged to make their personal dreams come true. Believe it or not, Tom never worked for his father and TD Ameritrade Holding Corporation.

And the Cubs...

The 2008 N.L. Central Champs have lost their 100th straight year of making it to the World Series, but what is in store for 2009 when they take on a new owner? Perhaps this is what they needed all along. To those Cubs fans out there, this may be just what the doctor ordered and they may finally break that long drought. It's been a long time coming since their first world series win back in the early 1900's.

Wrigley's field is the second oldest field in the United States, outside of Boston's Fenway Park (built in 1912). The very first Major League Baseball game that was played on the field was on April 23, 1914. The first National League game that was played at the park was April 20, 1916, when the Cubs beat the Reds.

For a full Cubs game schedule, you may visit their website: Chicago Cubs baseball schedule.