The billionaire owner of the Chicago Cubs is on a mission to rename a small Wyoming town where he plans to build a 56-acre high-end resort to the criticism and ire of the locals.
Joe Ricketts, the TD Ameritrade founder and patriarch of his family that purchased the MLB team in 2009, hopes to change Bondurant, Wyoming to Little Jackson Hole.
Ricketts, 82, has been on a recent push to build a 56-acre high-end resort on his 1,300-acre Jackson Fork Ranch property, according to the Cowboy State Daily.
Homestead Resort, the proposed name for Ricketts’ retreat, was described as a “premium resort experience with a mission-driven focus on protecting, preserving and enjoying the natural beauty of the Hoback region,” the newspaper reported.
During a dinner several years ago, the former stockbroker chairman pitched his idea to rename the small town Little Jackson Hole as an homage to Davey Jackson, an American pioneer and explorer with several locations in the valley named after him.
The seven-course meal where Ricketts first floated the idea included “swag bags” for all guests.
The billionaire released a study where he wanted to examine the location name “JacksonLittle Hole” along with other variants including Little Jackson Hole.
“It also was to provide authoritative documentation of the usage of ‘Jackson’s Little Hole’ within the geographical area known today as Bondurant, Wyoming,” the study said.
Bondurant had a population of 152, according to a 2022 census.
The research found Jackson had two favorite hunting spots in the valley – Jackson’s (Big) Hole and Jackson’s Little Hole.
Jackson Hole is known for its upscale ski resorts, campgrounds and picturesque views — bordered by the jagged peaks of the Tetons.
Ricketts believes the name change would make the area more marketable, based on name recognition for those who already travel to the area.
The suggestion irked some citizens of the small town, which sits in Sublette County, 40 miles southeast of Grand Teton National Park, who are angered by Rickett’s proposal for a tourist destination in the community.
“About 75% of the people all got up and left the dinner right then,” Pat Burroughs said. “They left the gift bags on the table and just walked out.”
“We are Bondurant,” she said firmly. “This is the Upper Hoback.”
Burroughs added that the change from Bondurant could bring confusion for delivery services.
“One gentleman even had trouble getting his medication,” the furious resident said. “He kept telling them he lives in Bondurant, but they were looking for someone in Little Jackson Hole.”
“It’s totally infuriating,” Burroughs said.
Richard Pearson, who claims to be the oldest lifelong resident of the Hoback Basin Valley, said the privacy of the community will vanish.
“I hate to see the change that this is going to bring to the private people who live in this valley,” Pearson told the newspaper. “You know, it’s going to be a completely different world in a few years once this, once everything gets going.”
Pearson complained that Ricketts had been buying several lands to add to his power to get the name change.
“He’s bought several places around here,” Pearson said. “It’s just like a cancer. He’s just sucking everything up. Anything that becomes available, he’s buying it.”
Apart from his Jackson Fork Ranch property, Ricketts recently purchased the White Pine Ski and Summer Resort, a 363-acre resort near Pinedale, 54 miles from Bondurant.
Last month he finalized a deal to buy the High Country Suites in Pinedale, according to the Cowboy State Daily.
Ricketts had said he wanted to ensure White Pine remains a “strong part of the community, and continues the tradition of serving local residents.” the newspaper reported.
