Arts & Entertainment
Chicago White Sox Announce Deal Allowing Owner Jerry Reinsdorf to Sell Future Control of Team
A double rainbow forms over Rate Field during a rain delay before a baseball game between the Detroit Tigers and Chicago White Sox, Wednesday, June 4, 2025, in Chicago. (Erin Hooley / AP Photo)
The Chicago White Sox have announced a plan for owner Jerry Reinsdorf to sell majority control of the team to minority owner Justin Ishbia — but not until 2029 at the earliest.
The Sox on Thursday announced what they called “a long-term investment agreement” between the two men which creates a framework for Ishbia to obtain a future controlling interest of the South Side franchise.
As part of that deal, Reinsdorf will have the option to sell controlling interest in the team to Ishbia between 2029 and 2033. After the 2034 season, Ishbia will have the option to acquire the controlling interest, the team said.
“Having the incredible opportunity to own the Chicago White Sox and be part of Major League Baseball for nearly 50 years has been a life-changing experience,” Reinsdorf said in a statement. “I have always expressed my intent to operate the White Sox as long as I am able and remain committed to returning this franchise to the level of on-field success we all expect and desire.”
Ishbia — a billionaire who, along with his brother, Mat, own the NBA’s Phoenix Suns — will make capital infusions into the White Sox as a limited partner in 2025 and 2026 which the team said will be used to pay down existing debt and support ongoing team operations.
No transaction can take place before 2029, and there’s no guarantee that one will happen.
The 89-year-old Reinsdorf, who has been the chairman of the White Sox since purchasing the franchise in 1981, will continue in his role as Chicago’s primary decisionmaker.
Reinsdorf, who also owns the Chicago Bulls, purchased the White Sox in 1981. The team won a World Series under his ownership in 2005, but he’s faced repeated calls from fans to sell the franchise following years of struggles on the field.
The White Sox have only made the playoffs three times since that World Series win and last season established a new major league record for losses in a single season with 121.
The team currently stands at 19-43 this season.
The Associated Press contributed to this report.
