Chicago Cubs Co-Owner Todd Ricketts To Step Down From Role As RNC Finance Chair

WILMETTE, IL — Chicago Cubs co-owner and Wilmette resident Todd Ricketts is departing as finance chair of the Republican National Committee.

Ricketts, who has served as the RNC's fundraising chief since January 2018, will be succeeded by Richard "Duke" Buchan III, a former ambassador to Spain and Andorra, according to party officials.

Former President Donald Trump initially nominated Ricketts to be deputy commerce secretary, but the local businessman withdrew from consideration instead of divesting from his financial portfolio enough to satisfy federal ethics rules.

Ricketts thanked Republican National Committee members and leaders for trusting him to advance the party's values and a pro-growth, conservative agenda for the past three and a half years.

"I am also proud to have served as the Finance Chair for President Trump and Vice President Pence’s re-election effort," Ricketts said in a statement.

"I’m excited by all the Republican candidates we helped elect during my tenure as well as the investments we made and the infrastructure we developed as a party," he added. "I’m confident the RNC will continue to be an outstanding organization to serve Republicans across the country and I look forward to continuing to help the cause.”

Ricketts is the son of billionaire T.D. Ameritrade founder Joe Ricketts and brother of Nebraska Gov. Pete Ricketts. Todd Ricketts' name has been floated as a possible Republican candidate in a future election, according to the Chicago Sun-Times, which noted he still had one year remaining on his term on the committee.

In 2019, a Cook County investigation into how Ricketts avoided paying tens of thousands of dollars in property taxes after building a new house in Wilmette was referred to the Cook County State's Attorney's Office. No charges were filed.

Buchan, a North Carolina native, was confirmed unanimously by the RNC executive board, committee officials announced.

In addition to serving as an ambassador in Trump's administration, he is the chairman and chief executive officer of the Palm Beach, Florida-based private asset management firm Hunter Global Investors.

Campaign finance records show he donated more than $940,000 to back Trump's re-election last year, according to Politico, which first reported his appointment.

"On behalf of Republicans across the country, thank you to Todd Ricketts for his exemplary service and unwavering support of our Republican Party," RNC Chairwoman Ronna McDaniel said in a statement.

"We are thrilled to have Ambassador Buchan serve as RNC Finance Chair following Todd's departure," McDaniel said. "We are confident Duke will continue to grow our party and help deliver Republican victories in 2022 and beyond.”

Related:

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• Todd Ricketts, Cubs Co-Owner, To Become RNC Finance Chair
• Chicago Cubs Co-Owner Owes Years Of Back Taxes For Wilmette House
• Ricketts Hosts Fundraiser For Trump On First Visit To To Chicago