Todd Ricketts, co-owner of the MLB baseball team the Chicago Cubs, departs following a meeting with U.S. President-elect Donald Trump (L) at the main clubhouse at Trump National Golf Club in Bedminster, New Jersey, U.S., November 19, 2016. REUTERS/Mike Segar

WASHINGTON (Reuters) - President Donald Trump’s choice for deputy secretary of commerce, Todd Ricketts, has withdrawn his nomination, a source close to Ricketts said on Wednesday.

Ricketts, a co-owner of the Chicago Cubs baseball team, pulled his name from consideration due to difficulties untangling his financial holdings to the satisfaction of the government ethics watchdog, the Chicago Sun-Times reported.

“I hope there are other opportunities to contribute to his administration in the future,” Ricketts said in a statement.