OT: Jerry Selling the Sox to Ishbia (Eventually)

[jnrjr79]

https://sports.yahoo.com/mlb/article/white-sox-owner-jerry-reinsdorf-reaches-agreement-with-justin-ishbia-for-controlling-stake-171235577.html

The Chicago White Sox are looking at an ownership change in the near future: The team announced in a press release on Thursday that owner Jerry Reinsdorf has reached an agreement with billionaire investor Justin Ishbia to potentially sell his majority stake five years from now.

According to a press release, the "long-term investment agreement" gives Reinsdorf the "option" to sell his controlling stake to Ishbia between 2029 and 2033. Ishbia currently holds a minority stake in the team.

After 2034, Ishbia "will have the option to acquire the controlling interest," per the release, which hedges the potential sale as "any such future transaction." The other minority owners would be able to sell to Ishbia once he holds the majority stake.

[SalmonsSuperfan]

nice knowin ya, South Side Sox. The Nashville or Naperville White Sox doesn't roll off the tongue the same way.

glass half full, he keeps the team here and simply runs it further into the ground like he did the Suns.


edit: they might be different guys. I'm still skeptical.

[HomoSapien]

Ugh, why couldn't it be the Bulls?

[SalmonsSuperfan]

Ugh, why couldn't it be the Bulls?

the Bulls are a cashcow even when they suck. People still show up to games for some unknown reason.

[CROBulls]

Ugh, why couldn't it be the Bulls?

the Bulls are a cashcow even when they suck. People still show up to games for some unknown reason.

Michael Jordan ladies and gentlemen.

[Almost Retired]

nice knowin ya, South Side Sox. The Nashville or Naperville White Sox doesn't roll off the tongue the same way.

glass half full, he keeps the team here and simply runs it further into the ground like he did the Suns.


edit: they might be different guys. I'm still skeptical.

I'd rather see them move to Nashville than have the State of Illinois give the Sox Billions of Dollars in subsidies while Illinois has 4 of the most poorly funded pension systems in the nation. Illinois State Employees Pension funded at 41.3%, Judges Pension funded at 42.7%, Illinois Teachers funded at 43.9% and the State University Pensions funded at 44.1% (all figures from February 2025). We're talking about a shortfall of about $100 Billion. And this is the rosy scenario. If we get a recession or a Stockmarket sell off (both highly likely in the next several years) then the underfunding just gets worse. The last thing Illinois needs to spend money on is for a privately owned sports team.

[kodo]

Ugh, why couldn't it be the Bulls?

the Bulls are a cashcow even when they suck. People still show up to games for some unknown reason.

Bulls merch also sells world wide. I've seen Bulls logos in every country I go to including ones where they don't really have basketball teams like Korea.

[jnrjr79]

nice knowin ya, South Side Sox. The Nashville or Naperville White Sox doesn't roll off the tongue the same way.

glass half full, he keeps the team here and simply runs it further into the ground like he did the Suns.


edit: they might be different guys. I'm still skeptical.

I'd rather see them move to Nashville than have the State of Illinois give the Sox Billions of Dollars in subsidies while Illinois has 4 of the most poorly funded pension systems in the nation. Illinois State Employees Pension funded at 41.3%, Judges Pension funded at 42.7%, Illinois Teachers funded at 43.9% and the State University Pensions funded at 44.1% (all figures from February 2025). We're talking about a shortfall of about $100 Billion. And this is the rosy scenario. If we get a recession or a Stockmarket sell off (both highly likely in the next several years) then the underfunding just gets worse. The last thing Illinois needs to spend money on is for a privately owned sports team.

Yeah, the good thing about Ishbia is he won't need public money if he's going to pursue a new stadium.

I'm not really worried that the guy wants to move the team to Nashville or whatever. He lives in WInnetka.

[SalmonsSuperfan]

Ugh, why couldn't it be the Bulls?

the Bulls are a cashcow even when they suck. People still show up to games for some unknown reason.

Bulls merch also sells world wide. I've seen Bulls logos in every country I go to including ones where they don't really have basketball teams like Korea.

The Sox hat too but the Sox hat isn't locally specific. It still looks cool in Nashville. Locally, everybody loves the Bulls and shows up and spends a ton of money on em (not me). There is now that JR/Wirtz project to spend $7billion building useless **** around the UC. The West Loop is a "happening" place and its extending westward and now encompasses the UC (I live off Western near the UC and there are a lot of building projects around here too). So it's more than just the Bulls, it's the area the arenas are in. The same thing can be said about the Cubs and the gentrification of Lakeview. These teams are never moving.

People like the Sox when they're good, but otherwise don't show up. I like going to games, spending 10 bucks on a ticket and sitting wherever I want, but that's probably not a sustainable business practice even if I spend $1000 on beer and hats. The area around SoxPark is sort of gentrifying, but it's by new residents who don't particularly care for the team. The alderman (who wasn't elected btw but appointed) specifically doesn't care, I asked her. People who live here still think going to a street in Chicago with numbers in the name will get them shot. Nobody cares if the Sox leave town except, like, 30 fans, and the development potential around the current arena is...limited...but there's definitely potential that would completely be lost if the Sox move, even to 'The 69' (or whatever it's called).

I think, if anything, the Reinsdorf kids wouldn't move the Sox because it would reflect poorly on the Bulls and, perhaps, those nepo babies care more about their reputation than a couple extra bucks. Why should Ishbia care? Because he has a house on the north shore? Because he might offend the Pope? I think he's inevitably moving the team unless we kowtow to him on 'the 78', which we shouldn't.

[Jcool0]

nice knowin ya, South Side Sox. The Nashville or Naperville White Sox doesn't roll off the tongue the same way.

glass half full, he keeps the team here and simply runs it further into the ground like he did the Suns.


edit: they might be different guys. I'm still skeptical.

He is building a 77M home in Illinois. They aren't going anywhere. Also FWIW Its not going to be the Arlington Heights Bears why would it be the Naperville White Sox?

[meekrab]

Ugh, why couldn't it be the Bulls?

I'm not really excited about experiencing what the Ishbia clan have done to the Suns, are you?

[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.)

[HomoSapien]

Ugh, why couldn't it be the Bulls?

I'm not really excited about experiencing what the Ishbia clan have done to the Suns, are you?

I would much rather take my chances with Ishbia. At least he takes big swings and is trying to win a championship. All we seem interested in doing is making the play-in.

[fleet]

[fleet]

Ugh, why couldn't it be the Bulls?

I'm not really excited about experiencing what the Ishbia clan have done to the Suns, are you?

In this case, the devil we don’t know is at least everything Jerry is not. We don’t have to end up like the Suns. That’s not how it has to work.

[dougthonus]

Ugh, why couldn't it be the Bulls?

I'm not really excited about experiencing what the Ishbia clan have done to the Suns, are you?

The Ishbia management of the Suns wouldn't be a problem in baseball, so yeah, I'd be pretty happy if they just injected an absolute crap ton of money into the Sox and bought the best players where there is really no cap or structural limitations to spending.

[Jcool0]

Ugh, why couldn't it be the Bulls?

I'm not really excited about experiencing what the Ishbia clan have done to the Suns, are you?

Read on Twitter

[jnrjr79]

Ugh, why couldn't it be the Bulls?

I'm not really excited about experiencing what the Ishbia clan have done to the Suns, are you?

I would much rather take my chances with Ishbia. At least he takes big swings and is trying to win a championship. All we seem interested in doing is making the play-in.

Just keep in mind this isn't the same Ishbia. It's his brother that owns the Suns.

[Charlesareed]

Ugh, why couldn't it be the Bulls?

the Bulls are a cashcow even when they suck. People still show up to games for some unknown reason.

And that’s why ppl need to just stop supporting the team until he at least lowers the price since we all know he’s no going to every have a championship roster in the next 20 years

[Jcool0]

Good breakdown of Mat (who will have a role with the White Sox) and his/Justin's company (how vulnerablethe $$$ is).

Watch on YouTube