OT: Jerry Selling the Sox to Ishbia (Eventually)

[GoBlue72391]

Have you guys seen the news that CHSN is ending OTA broadcasts for antennas in the Chicago area? Now we have to pay $20 a month if we want to watch games.

Unbelievable.

[fleet]

Have you guys seen the news that CHSN is ending OTA broadcasts for antennas in the Chicago area? Now we have to pay $20 a month if we want to watch games.

Unbelievable.

You Chicago dwellers can now get a taste of our world, the out of state fans of Chicago teams. But them being Jerry’s team, your choice should be easy in this case, unless all of the sudden not signing an Ohtani is not a big funny joke anymore to Sox ownership.

[kyrv]

Weird. So Ishbia "invests" millions for two years, nothing happens for three years, then it's Reinsdorf's option until 2033, and Ishbia's option thereafter. I can't remember seeing such a slow-motion maybe-takeover.

I wonder who controls Jerry's option if he passes away? New controlling partner? Heir? They are probably one and the same assuming his estate isn't split evenly among several, but inheritance could still potentially foul up the works.

And, it does seem to be a maybe-almost-certainly-but-not-definitely takeover. Both sides could refuse the option, and then Reinsdorf (or his heirs, presumably) still owns the team. Hence the "any such future transaction" phrasing. There might (conceivably) not be one.

I assume JIsh is getting more shares for his coming investments over the next couple of years, and isn't just paying down debt as a condition for the later option, with no other consideration? (Not a contract lawyer, Holiday Inn Express last night, etc.)

I don't recall anything like this in sports. As you noted, the buried lead is a big MAYBE that the Sox will eventually sell the team to Ishbia.

Also like you and not to be morbid but what happens if Jerry passes in the meantime, or maybe Ishbia's option covers that I don't know.

[Jcool0]

Weird. So Ishbia "invests" millions for two years, nothing happens for three years, then it's Reinsdorf's option until 2033, and Ishbia's option thereafter. I can't remember seeing such a slow-motion maybe-takeover.

I wonder who controls Jerry's option if he passes away? New controlling partner? Heir? They are probably one and the same assuming his estate isn't split evenly among several, but inheritance could still potentially foul up the works.

And, it does seem to be a maybe-almost-certainly-but-not-definitely takeover. Both sides could refuse the option, and then Reinsdorf (or his heirs, presumably) still owns the team. Hence the "any such future transaction" phrasing. There might (conceivably) not be one.

I assume JIsh is getting more shares for his coming investments over the next couple of years, and isn't just paying down debt as a condition for the later option, with no other consideration? (Not a contract lawyer, Holiday Inn Express last night, etc.)

I don't recall anything like this in sports. As you noted, the buried lead is a big MAYBE that the Sox will eventually sell the team to Ishbia.

Also like you and not to be morbid but what happens if Jerry passes in the meantime, or maybe Ishbia's option covers that I don't know.

This just happened in baseball. David Blitzer became a minority owner of the Cleveland Guardians (25-30%) in 2022. The terms include an option for him to become majority owner in six years.

[DropStep]

Weird. So Ishbia "invests" millions for two years, nothing happens for three years, then it's Reinsdorf's option until 2033, and Ishbia's option thereafter. I can't remember seeing such a slow-motion maybe-takeover.

I wonder who controls Jerry's option if he passes away? New controlling partner? Heir? They are probably one and the same assuming his estate isn't split evenly among several, but inheritance could still potentially foul up the works.

And, it does seem to be a maybe-almost-certainly-but-not-definitely takeover. Both sides could refuse the option, and then Reinsdorf (or his heirs, presumably) still owns the team. Hence the "any such future transaction" phrasing. There might (conceivably) not be one.

I assume JIsh is getting more shares for his coming investments over the next couple of years, and isn't just paying down debt as a condition for the later option, with no other consideration? (Not a contract lawyer, Holiday Inn Express last night, etc.)

I don't recall anything like this in sports. As you noted, the buried lead is a big MAYBE that the Sox will eventually sell the team to Ishbia.

Also like you and not to be morbid but what happens if Jerry passes in the meantime, or maybe Ishbia's option covers that I don't know.

This just happened in baseball. David Blitzer became a minority owner of the Cleveland Guardians (25-30%) in 2022. The terms include an option for him to become majority owner in six years.

Good example, but it does omit the odd flipping of the options from one to the other, and the Sox sale could take twice as long to happen, if it even does.

[kyrv]

Weird. So Ishbia "invests" millions for two years, nothing happens for three years, then it's Reinsdorf's option until 2033, and Ishbia's option thereafter. I can't remember seeing such a slow-motion maybe-takeover.

I wonder who controls Jerry's option if he passes away? New controlling partner? Heir? They are probably one and the same assuming his estate isn't split evenly among several, but inheritance could still potentially foul up the works.

And, it does seem to be a maybe-almost-certainly-but-not-definitely takeover. Both sides could refuse the option, and then Reinsdorf (or his heirs, presumably) still owns the team. Hence the "any such future transaction" phrasing. There might (conceivably) not be one.

I assume JIsh is getting more shares for his coming investments over the next couple of years, and isn't just paying down debt as a condition for the later option, with no other consideration? (Not a contract lawyer, Holiday Inn Express last night, etc.)

I don't recall anything like this in sports. As you noted, the buried lead is a big MAYBE that the Sox will eventually sell the team to Ishbia.

Also like you and not to be morbid but what happens if Jerry passes in the meantime, or maybe Ishbia's option covers that I don't know.

This just happened in baseball. David Blitzer became a minority owner of the Cleveland Guardians (25-30%) in 2022. The terms include an option for him to become majority owner in six years.

Cool (no pun intended) thanks!