Andell Holdings close on purchase of Chicago Fire

Soccer Betting Lines

09/07/2007 - Bridgeview, IL (Sportsbook Betting Lines) - Andell Holdings, a Los Angeles-based private investment firm, announced Thursday the closing of the transaction to acquire AEGs interests in Major League Soccers Chicago Fire. The purchase price was not disclosed.

"As a longtime soccer fan, I am so excited about our purchase of the Chicago Fire," Andell Holdings Chairman and Chief Executive Officer Andrew Hauptman said. "Everyone at Andell, especially my wife Ellen and I, shares the Fires commitment to tradition, honor, and passion. We're fully dedicated to working with the team, its fans and the Chicago community to build a championship franchise. (President and CEO of AEG) Tim Leiweke and his team at AEG, (MLS) 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."

Now AEG, which once owned the majority of teams in MLS, owns just two teams - the L.A. Galaxy and the Houston Dynamo.

"Selling the Chicago Fire was a very difficult decision for AEG," Leiweke said. "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."

The Chicago Fire Soccer franchise was founded on Oct. 8, 1997 as a MLS expansion team. The Fire won the MLS Cup in its inaugural season in 1998 and was crowned the champion of U.S. Soccer's national tournament, the Lamar Hunt U.S. Open Cup, in 1998, 2000, 2003 and 2006. In June 2006, the Fire moved into their 20,000-seat, soccer-specific home of Toyota Park in Bridgeview, just outside of Chicago.

"We proudly welcome Andrew Hauptman and Andell into the MLS ownership group," Garber said. "I am confident that they will be dedicated and innovative leaders of the Chicago Fire organization. As our group of owners continues to grow and diversify, Andells investment further illustrates the strength of our business and the bright future that lies ahead."

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