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Fans of the Chicago White Sox (and the Chicago Bulls) have pleaded for longtime owner Jerry Reinsdorf to sell the team for many, many years, but it does not appear that is coming anytime soon.
Although Reinsdorf is now 89 years old and is among the most consistently maligned team owners in all of sports, he reportedly plans to remain as the owner of the White Sox, who experienced the worst season in modern MLB history last year.
“The Chicago White Sox, despite all of the rumors and speculation, are NOT being sold,” USA Today's Bob Nightengale 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.”
Nightengale reported that Justin Ishbia, one of the White Sox's most prominent minority owners, has tried to purchase Reinsdorf's shares and take over the team. Reinsdorf, however, has “rebuffed” these attempts.
Reinsdorf bought the team back in 1981 for $19 million (worth about $66 million today), and if he sold the team today, the transaction would net Reinsdorf a jaw-dropping sum. According to Forbes, the franchise is valued at $2 billion despite being the only MLB team to have decreased in value from its 2024 valuation.
Under Reinsdorf's leadership, the White Sox have made the playoffs just seven times in more than 40 years. But in 2005, the team won the World Series, the franchise's first in 88 years, which certainly gave Reinsdorf a tad more leniency from fans for a while.
Ishbia, who had shown interest in buying the Minnesota Twins, seemingly abandoned those hopes and subsequently made moves earlier this year by acquiring the shares of numerous White Sox limited partners at a valuation of $1.8 billion.
In addition to being a minority owner in the White Sox, Ishbia has ownership stakes in the NBA's Phoenix Suns and WNBA's Phoenix Mercury — his brother, Mat Ishbia, is the principal owner — and Nashville SC of Major League Soccer (MLS). The Ishbias have been criticized for their aggressive maneuvering of the Suns' roster and trade assets after trading for Kevin Durant and Bradley Beal, the latter of whom has a no-trade clause.
Despite the mistakes in the NBA, White Sox fans would almost certainly jump for joy if Ishbia bought the team from Reinsdorf.
The White Sox are currently 2-6 and have lost their last four games.
