JR potentially selling the White Sox

[Dominator83]

https://sports.yahoo.com/white-sox-owner-jerry-reinsdorf-reportedly-in-discussions-about-selling-team-after-historically-bad-season-214446200.html



Would be about effing time! Do the right thing and sell the Bulls too !

[Kurt Heimlich]

The chokehold Rein$dorf has on this market for basketball means it will literally never sell (unless the NBA shows distinct signs of negative equity). NY has 2 MLB teams, 2 NBA teams. LA has 2 MLB teams, 2 NBA teams. Chicago 2 MLB teams, 1 NBA team. That plus having effectively a superhero level star elevating their monopolistic franchise in the 3rd largest city in the richest country to ever exist. We people of Chicago(land) are stuck with the Slumsdorfs when it comes the Bulls. Its free money for those skinflints.

[Brothaman33]

I'll believe it when I see it.

While I generally think blame on ownership is (usually) overstated... Some of the stuff coming out about how the White Sox are run is...really bad.

[Jcool0]

Looks like Dave Stewart has ties to Nashville.

[Hangtime84]

Renovations is what makes owners want to sell. But he is literally selling it at the lowest price point after this season they just had.

[dougthonus]

Assuming the White Sox are worth roughly 2B, if he sells now, he'll pay 400M in capital gains tax. If they sell after he dies, all of that goes away due to step up law. He's not going to sell.

[TheStig]

Assuming the White Sox are worth roughly 2B, if he sells now, he'll pay 400M in capital gains tax. If they sell after he dies, all of that goes away due to step up law. He's not going to sell.

There is a step up to avoid capital gains but they will pay an inheritance tax.

[dougthonus]

Assuming the White Sox are worth roughly 2B, if he sells now, he'll pay 400M in capital gains tax. If they sell after he dies, all of that goes away due to step up law. He's not going to sell.

There is a step up to avoid capital gains but they will pay an inheritance tax.

Unless I'm missing something, and I'm not a tax accountant or anything, paying the capital gains tax won't avoid the inheritance tax. You'd just pay both.

[ChiTownHero1992]

Great for the Sox in that they get rid of Jerry, bad that they'll be in Nashville within 3 years.

Terrible for the Bulls because I doubt Jerry would even remotely consider selling both!

[Jcool0]

Listening to The Score this seems like the most likely scenario. Jerry is trying to get some leverage back for a publicly funded stadium by floating he could sell the team to a guy with Nashville aspirations and for Stewart this makes him a more viable candidate for an expansion team in Nashville. Still probably doesn't work out for either guy.

[Michael Jackson]

What happened to good owners like Comiskey?

[Almost Retired]

Listening to The Score this seems like the most likely scenario. Jerry is trying to get some leverage back for a publicly funded stadium by floating he could sell the team to a guy with Nashville aspirations and for Stewart this makes him a more viable candidate for an expansion team in Nashville. Still probably doesn't work out for either guy.

There isn't a chance in hell the voters would ever approve funding a new Stadium for the Sox, as pathetic as they are. And they shouldn't. Sell them. Move them. Whatever. Trying to get a new stadium this soon after they replaced Comiskey Park is ridiculous anyway. Does the current stadium not have enough empty seats?

[ChettheJet]

Jerry likes owning the Bulls, he loves baseball and owning the Sox. If he just wanted money, the 100 times what he paid for the Sox would make him happy. He is dreaming of his baseball legacy and he'd like to blackmail the city and state into financing a new ballpark mainly so he wouldn't spend his own money.

He's a rich OLD man and wants it his way and he wants it all. The reality is is he may be the majority owner of the Bulls and Sox but there are a lot of partners who he would have to convince to sell, that might not be that easy. You have to figure he has made the estate panning for what happens after his death so taxes don't eat into what he leaves. He may figure to live forever but there comes a point where owning the team isn't as much fun when the fan base hates you, the government won't kneel to your threats to sell and/or move a second time and selling and having the money is the best move.

[Jcool0]

Jerry likes owning the Bulls, he loves baseball and owning the Sox. If he just wanted money, the 100 times what he paid for the Sox would make him happy. He is dreaming of his baseball legacy and he'd like to blackmail the city and state into financing a new ballpark mainly so he wouldn't spend his own money.

He's a rich OLD man and wants it his way and he wants it all. The reality is is he may be the majority owner of the Bulls and Sox but there are a lot of partners who he would have to convince to sell, that might not be that easy. You have to figure he has made the estate panning for what happens after his death so taxes don't eat into what he leaves. He may figure to live forever but there comes a point where owning the team isn't as much fun when the fan base hates you, the government won't kneel to your threats to sell and/or move a second time and selling and having the money is the best move.

He has control of both teams (i thought he had more then 19% of the Sox) and i think KC reported a few years ago he quietly bought up enough shares in the Bulls to have a 50+% stake. His minority partners are his friends so i don think they would be unhappy with him selling. I think fans had the dream of a billionaire coming in and buying all the minority shares and getting the team. But i dont think that is possible.

[dougthonus]

He has control of both teams (i thought he had more then 19% of the Sox) and i think KC reported a few years ago he quietly bought up enough shares in the Bulls to have a 50+% stake. His minority partners are his friends so i don think they would be unhappy with him selling. I think fans had the dream of a billionaire coming in and buying all the minority shares and getting the team. But i dont think that is possible.

In order to attract a good offer, they need to sell a controlling stake to someone. Fair chance if Jerry wants out that enough people will follow his lead to allow that to happen though.

[TheStig]

Assuming the White Sox are worth roughly 2B, if he sells now, he'll pay 400M in capital gains tax. If they sell after he dies, all of that goes away due to step up law. He's not going to sell.

There is a step up to avoid capital gains but they will pay an inheritance tax.

Unless I'm missing something, and I'm not a tax accountant or anything, paying the capital gains tax won't avoid the inheritance tax. You'd just pay both.

It won't but it is at a considerably lower rate and he can enjoy buying a team and tormenting another fan base. Let him move on Doug. Please for the love god, let him move on from the Bulls.

[Michael Jackson]

There is a step up to avoid capital gains but they will pay an inheritance tax.

Unless I'm missing something, and I'm not a tax accountant or anything, paying the capital gains tax won't avoid the inheritance tax. You'd just pay both.

It won't but it is at a considerably lower rate and he can enjoy buying a team and tormenting another fan base. Let him move on Doug. Please for the love god, let him move on from the Bulls.

I don’t think Doug has a say in it. While JR sucks a new ownership group doesn’t mean it will be better.

[dougthonus]

It won't but it is at a considerably lower rate and he can enjoy buying a team and tormenting another fan base. Let him move on Doug. Please for the love god, let him move on from the Bulls.

Haha, well sadly, the article is just about selling the White Sox. I think this is actually a continuation of an older story where he told the family to sell the White Sox after he died but to keep the Bulls. I think he doesn't believe in MLB's ability to grow in market value but does believe in the NBA's.

[WookieOnRitalin]

Count me in as someone who would be supportive of the team selling and moving to Nashville.

[Jcool0]

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