Image ImageImage Image

What is the Bulls Ownership Structure?

Moderators: HomoSapien, AshyLarrysDiaper, coldfish, Payt10, Ice Man, dougthonus, Michael Jackson, Tommy Udo 6 , kulaz3000, fleet, DASMACKDOWN, GimmeDat, RedBulls23

NSJ
Junior
Posts: 445
And1: 0
Joined: Jul 05, 2008

What is the Bulls Ownership Structure? 

Post#1 » by NSJ » Thu Jul 2, 2009 6:12 pm

Yes, I understand that Reinsdork is the owner, head honcho, big boss, et al. But I seem to remember that while he's officially the *managing partner*, his ownership stake in the Bulls, a private company, is actually pretty small. Who owns what % of the team? And why do the other Shareholders let a guy who owns a small portion run the team?
User avatar
BullSoxChicago'sFinest
Veteran
Posts: 2,867
And1: 1
Joined: Oct 13, 2006

Re: What is the Bulls Ownership Structure? 

Post#2 » by BullSoxChicago'sFinest » Thu Jul 2, 2009 6:20 pm

IIRC, he's just the guy in the spotlight who everyone rips on but there's a board who actually makes all the decisions or has to sign off.
The Lord is saving my life; Trust in Him and you'll see the same : ): Daily Scripture Readings
Ask a saint like Padre Pio to ask Jesus to send you a conversion moment. What's the worst that can happen if you don't believe anyways? ;) Prayer works
User avatar
Scott May
Head Coach
Posts: 7,104
And1: 24
Joined: Jul 05, 2001

Re: What is the Bulls Ownership Structure? 

Post#3 » by Scott May » Thu Jul 2, 2009 6:26 pm

He doesn't own a majority of the team, percentage-wise, but it's not "small," either. If the search function worked, I could point you to a post where I've listed the actual number, but I want to say it's something like 30-35%.

The important part is this -- the other owners, as a stipulation of their being allowed to own a part of the team, have given Jerry complete say-so over the operation. He doesn't have to get anyone to sign off on anything.

There are a whole host of S-T and Trib articles available on "Find Articles.com" or somesuch from the period where Reinsdorf purchased the team and arranged for the outster of an uncooperative minority partner that outline the arrangement, which to my knowledge hasn't changed other than that a few of the original partners have died.
On indefinite hiatus as of May 27, 2014.
anorexorcism
Banned User
Posts: 7,286
And1: 10
Joined: Oct 19, 2007
Location: Enjoying life.

Re: What is the Bulls Ownership Structure? 

Post#4 » by anorexorcism » Thu Jul 2, 2009 6:33 pm

^^Kind of OT, but ScottMay, I just noticed your avatar has been updated. :( makes me sad.
TB#1
Banned User
Posts: 17,483
And1: 9
Joined: Jun 18, 2003
Location: Wossamotta U

Re: What is the Bulls Ownership Structure? 

Post#5 » by TB#1 » Thu Jul 2, 2009 6:38 pm

ScottMay wrote:He doesn't own a majority of the team, percentage-wise, but it's not "small," either. If the search function worked, I could point you to a post where I've listed the actual number, but I want to say it's something like 30-35%.

The important part is this -- the other owners, as a stipulation of their being allowed to own a part of the team, have given Jerry complete say-so over the operation. He doesn't have to get anyone to sign off on anything.

There are a whole host of S-T and Trib articles available on "Find Articles.com" or somesuch from the period where Reinsdorf purchased the team and arranged for the outster of an uncooperative minority partner that outline the arrangement, which to my knowledge hasn't changed other than that a few of the original partners have died.


Moderators have better access to search functions. I THINK this is the post you are referencing.


viewtopic.php?f=10&t=868316&p=18189963&#p18189963
User avatar
Scott May
Head Coach
Posts: 7,104
And1: 24
Joined: Jul 05, 2001

Re: What is the Bulls Ownership Structure? 

Post#6 » by Scott May » Thu Jul 2, 2009 6:41 pm

Thanks, TB. Man, I can write a hell of a post when I'm in the mood.
On indefinite hiatus as of May 27, 2014.
nitetrain8603
RealGM
Posts: 24,122
And1: 1,828
Joined: May 30, 2003
         

Re: What is the Bulls Ownership Structure? 

Post#7 » by nitetrain8603 » Thu Jul 2, 2009 6:43 pm

Board(JR is the guy they picked as spotlight figure)
|
|
Pax
|
Gar
User avatar
Tommy Udo 6
Global Mod
Global Mod
Posts: 42,507
And1: 28
Joined: Jun 13, 2003
Location: San Francisco/East Bay CA

Re: What is the Bulls Ownership Structure? 

Post#8 » by Tommy Udo 6 » Thu Jul 2, 2009 6:45 pm

I've read that Reinsdorf personally owns about 15-17% of the Bulls. The largest individual owner was Hunt, but he died recently so his widow is probably the largest owner at around 19%. To my knowledge, none of the owners are basketball people. They are just investors.

In 1984, Reinsdorf led a group of investors who bought control of the team from a group then led by George Steinbrenner - the Yankees owner. This "group" together owns a controlling share in the Bulls & lets Reinsdorf run the show & make all major decisions. There has never been a revolt against his leadership because the team is obscenely profitable.

He gained control right after Jordan was drafted. That was 1984, I believe. I remember because one of his first acts was firing GM Rod Thorn & replacing him with his baseball scout, Jerry Krause.

If you have a yearbook, I believe all the major owners are pictured & named at the beginning.
The gem cannot be polished without friction, nor man perfected without trials.
- -- Chinese proverb
transplant
RealGM
Posts: 11,734
And1: 3,419
Joined: Aug 16, 2001
Location: state of perpetual confusion
       

Re: What is the Bulls Ownership Structure? 

Post#9 » by transplant » Thu Jul 2, 2009 6:50 pm

NSJ wrote:Yes, I understand that Reinsdork is the owner, head honcho, big boss, et al. But I seem to remember that while he's officially the *managing partner*, his ownership stake in the Bulls, a private company, is actually pretty small. Who owns what % of the team? And why do the other Shareholders let a guy who owns a small portion run the team?

As Scott May stated, he owns a minority, though not small, part of the team. The other owners let him make the decisions because he's really good at it...much better than any of them could do and they're smart enough to understand this...this kind of keen judgment is why they're all very rich people. Reinsdorf also runs the business well, in fact brilliantly.

I suppose this is as good a place as any for me to re-state my opinion that Reinsdorf is the best sports franchise owner in the history of Chicago.
Until the actual truth is more important to you than what you believe, you will never recognize the truth.

- Blatantly stolen from truebluefan
Wewing
Junior
Posts: 265
And1: 29
Joined: Feb 28, 2005

Re: What is the Bulls Ownership Structure? 

Post#10 » by Wewing » Thu Jul 2, 2009 7:24 pm

From some partial searches of archived newspaper articles, it looks like Reinsdorf's ownership group purchased 56% of the Bulls for $9.2 million, with 26% of that apparently coming from the estate of Arthur Wirtz. I think it was also the case that once the 56% was purchased and the new managing partner named, existing owners sold fractional shares as well at the same rate. (Does about $16.5 million valued for the whole franchise ring a bell to the other old-timers?)

Next time I'm at the library I'll take another look at this, because even at the time it happened there were conflicting reports about which fractional owners were selling, and what percent (of the 56%) would be owned by Reinsdorf. The number I have in my head for Reinsdorf is <20% of the total, but there are probably a lot of numbers that got quoted. The sale was some time in the first quarter of 1985 (might have become official March 1?)

According to the most recent Bulls media guide, there are 28 owners, with 5 of these listed as "the Estate of", another owner listed as a corporation and another as a family Limited Partnership. 5 years ago there were 30 owners, with 4 "Estates of", so a little consolidation has occurred. No idea who has picked up extra shares, but it would be very interesting to know what they sold for.
Wingy
RealGM
Posts: 16,068
And1: 6,956
Joined: Feb 15, 2007

Re: What is the Bulls Ownership Structure? 

Post#11 » by Wingy » Thu Jul 2, 2009 7:29 pm

Image
User avatar
Magilla_Gorilla
RealGM
Posts: 32,052
And1: 4,452
Joined: Oct 24, 2006
Location: Sunday Morning coming down...
         

Re: What is the Bulls Ownership Structure? 

Post#12 » by Magilla_Gorilla » Thu Jul 2, 2009 7:38 pm

transplant wrote:
NSJ wrote:Yes, I understand that Reinsdork is the owner, head honcho, big boss, et al. But I seem to remember that while he's officially the *managing partner*, his ownership stake in the Bulls, a private company, is actually pretty small. Who owns what % of the team? And why do the other Shareholders let a guy who owns a small portion run the team?

As Scott May stated, he owns a minority, though not small, part of the team. The other owners let him make the decisions because he's really good at it...much better than any of them could do and they're smart enough to understand this...this kind of keen judgment is why they're all very rich people. Reinsdorf also runs the business well, in fact brilliantly.

I suppose this is as good a place as any for me to re-state my opinion that Reinsdorf is the best sports franchise owner in the history of Chicago.



Brilliant post. Again.
Sham - Y U NO sell me a t-shirt? Best OB/GYN Houston
User avatar
kyrv
RealGM
Posts: 60,434
And1: 3,788
Joined: Jan 02, 2003
Location: Intimidated by TNT

Re: What is the Bulls Ownership Structure? 

Post#13 » by kyrv » Thu Jul 2, 2009 7:43 pm

transplant wrote:
NSJ wrote:Yes, I understand that Reinsdork is the owner, head honcho, big boss, et al. But I seem to remember that while he's officially the *managing partner*, his ownership stake in the Bulls, a private company, is actually pretty small. Who owns what % of the team? And why do the other Shareholders let a guy who owns a small portion run the team?

As Scott May stated, he owns a minority, though not small, part of the team. The other owners let him make the decisions because he's really good at it...much better than any of them could do and they're smart enough to understand this...this kind of keen judgment is why they're all very rich people. Reinsdorf also runs the business well, in fact brilliantly.

I suppose this is as good a place as any for me to re-state my opinion that Reinsdorf is the best sports franchise owner in the history of Chicago.


Oh noes you dint girlfriend. :wavefinger:


Tommy - I recall in the mid teens as well. Someone said thirty, that would be much more than I recalled, but still a minority owner of course.
Bill Walton wrote: Keep the music playing.
User avatar
Rerisen
Retired Mod
Retired Mod
Posts: 105,369
And1: 25,052
Joined: Nov 23, 2003

Re: What is the Bulls Ownership Structure? 

Post#14 » by Rerisen » Thu Jul 2, 2009 7:58 pm

Something like this I imagine.

Image
User avatar
topper09
Analyst
Posts: 3,568
And1: 0
Joined: Nov 17, 2002
Location: The Second Coming of Greatness

Re: What is the Bulls Ownership Structure? 

Post#15 » by topper09 » Thu Jul 2, 2009 8:10 pm

JR ---- Give me more money so I can buy another Hockey team

Pax ---- Yessir.. Yessir.. Yessir

Gar --- Yessir.. Yessir.. Yessir
Derrick Rose is "The One"

Image
User avatar
Magilla_Gorilla
RealGM
Posts: 32,052
And1: 4,452
Joined: Oct 24, 2006
Location: Sunday Morning coming down...
         

Re: What is the Bulls Ownership Structure? 

Post#16 » by Magilla_Gorilla » Thu Jul 2, 2009 8:12 pm

topper09 wrote:JR ---- Give me more money so I can buy another Hockey team

Pax ---- Yessir.. Yessir.. Yessir

Gar --- Yessir.. Yessir.. Yessir



I wouldn't expect you to know that one has nothing to do with the other.
Sham - Y U NO sell me a t-shirt? Best OB/GYN Houston
D_ROSE
Banned User
Posts: 85
And1: 0
Joined: May 12, 2009
Location: I AM GAR! HEAR ME ROAR!

Re: What is the Bulls Ownership Structure? 

Post#17 » by D_ROSE » Thu Jul 2, 2009 8:19 pm

It's a secret!

Return to Chicago Bulls