‘Health’: Chicago White Sox have update on ownership sale situation, per report
On Feb. 21, Jon Greenberg of The Athletic reported that Justin Ishbia made a significant move in the hopes of one day owning the Chicago White Sox when he chose to halt his plans for the Minnesota Twins to buy more in his stake with the White Sox.
“Chicago-area billionaire Justin Ishbia has dropped his pursuit of the Minnesota Twins, The Athletic has learned, and will instead buy more shares from other limited partners to increase his existing minority stake in the Chicago White Sox,” Greenberg wrote.
“People with knowledge of the discussions believe that the deal will allow Ishbia to take control of the team at some point by buying the shares of longtime owner Jerry Reinsdorf and other partners. But a White Sox official on Friday night disputed that notion, even though it would be unusual for prospective owners to make significant investments for minority shares without the promise of their stakes growing larger.”
Chicago White Sox fans wanted a sale to go through
Ishbia, who is a founding partner of Shore Capital Partners, has his hands in several sports franchises. He and his brother Mat Ishbia are part majority owners of the Phoenix Suns (NBA) and Phoenix Mercury (WNBA). Justin is a minority owner of Nashville SC (MLS).
Many White Sox fans were excited when the report surfaced that Ishbia had interest in buying the team. Chicago has made the postseason three times since winning the World Series in 2005. Reinsdorf has owned the White Sox since 1981 and the Chicago Bulls since 1985.
No change as long as as Jerry Reinsdorf remains in good health
On Sunday, Bob Nightengale of USA Today poured cold water on the idea that Reinsdorf would sell the White Sox anytime soon.
“The Chicago White Sox, despite all of the rumors and speculation, are NOT being sold,” Reinsdorf wrote. “White Sox owner Jerry Reinsdorf, 90, has made it perfectly clear to friends that he has zero interest in selling as long as he remains in good health.”
The White Sox finished the 2024 season with a 41-121 record, one of the worst in modern MLB history. Chicago enters their Sunday matchup against the Detroit Tigers with a 2-6 record.
Why a 90-year-old wants to oversee another ugly rebuild is curious. Reinsdorf’s decision to leave the fate of a promising core in the hands of Tony La Russa in 2021 and 2022 should have been his last act as an owner of the White Sox.
Unfortunately, fans in Chicago continue to buy tickets to support Reinsdorf’s enterprise.
That goes for the Bulls too.
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