The billionaire owner of the Chicago Cubs is on a mission to change the name of a small Wyoming town where he plans to build a 56-acre luxury resort, despite criticism and anger from local residents.
Joe Ricketts, founder of TD Ameritrade and patriarch of the family that bought the MLB team in 2009, wants to rename Bondurant, Wyoming, Little Jackson Hole.
Ricketts, 82, recently began planning a luxury resort on 56 acres at the 1,300-acre Jackson Fork Ranch. Cowboy State Daily.
Homestead Resort, the proposed name for Ricketts’ vacation home, is described as “an upscale resort experience with a mission to protect, preserve and enjoy the natural beauty of the Hoback region,” the newspaper reported.
At a dinner party a few years ago, the former stockbroker chairman floated the idea of renaming the small town Little Jackson Hole in honor of Davie Jackson, the American pioneer and explorer for whom several places in the valley are named.
The seven-course meal, where Ricketts first proposed the idea, included a “goodie bag” for every guest.
The billionaire has announced a study in which he wants to explore the place name “Jackson Little Hole” and other aliases that include Little Jackson Hole.
“It also provided authoritative documentation of the use of ‘Jackson’s Little Hole’ within the geographic area known today as Bondurant, Wyoming.” the study states.
According to the 2022 census, Bondurant’s population was 152.
Research revealed that Jackson had two favorite hunting spots within the valley: Jackson’s (Big) Hole and Jackson’s Little Hole.
Jackson Hole is known for its premium ski resorts, campgrounds and beautiful scenery surrounded by the rugged peaks of the Teton Range.
Ricketts believes the name change will increase the area’s market value, based on familiarity with those already visiting the area.
The proposal has angered some residents of the small town in Sublette County, 40 miles southeast of Grand Teton National Park, who are outraged by Ricketts’ proposal to create a tourist destination in the area.
“About 75 percent of the people got up and left the dinner right then and there,” Pat Burrows said. “They left their gift bags on the table and just walked out.”
“We’re Bondurants,” she declared. “This is Upper Hoback.”
Burrows added that the changes from Bondurant could cause disruption to delivery services.
“One guy had trouble getting his drugs,” said an outraged resident. “He kept saying he lived in Bondurant, but police were looking for someone in Little Jackson Hole.”
“It’s really infuriating,” Burrows said.
Richard Pearson, who claims to be the oldest lifelong resident of the Hoback Basin Valley, said the community’s privacy would disappear.
“I would hate to see the change this will bring to ordinary people who live in this valley,” Pearson told the paper. “If this plan goes ahead, it’s going to be a very different world in a few years.”
Pearson complained that Ricketts had purchased multiple properties to consolidate his power to effect the name change.
“He’s been buying a few properties around here,” Pearson said. “It’s like a cancer. He’s absorbing everything. He’s buying everything he can get his hands on.”
In addition to his Jackson Fork Ranch property, Ricketts recently purchased White Pine Ski and Summer Resort, a 363-acre resort near Pinedale, 54 miles from Bondurant.
He closed on a deal last month to buy High Country Suites in Pinedale, according to Cowboy State Daily.
According to the newspaper, Ricketts said he wants to ensure White Pine “remains a strong part of the community and continues its tradition of serving local residents.”
