Costing $250,000 when it was built in 1914, Wrigley Field was home to the Chicago Federals before the Federal League folded after two years. Charlie Weeghman, builder of the park, lead a group to purchase the Chicago Cubs and move them to his stadium, then called Weegham Park. Chewing gum magnate William Wrigley, Jr., part of the original group, bought out the shares of the other members in 1919 and the park was renamed Wrigley Field in 1926 in his honor.