Jerry Reinsdorf, Justin Ishbia Reach Agreement For Ishbia To Obtain Future Majority Stake In White Sox

The White Sox announced Thursday that chairman and majority owner Jerry Reinsdorf and minority owner Justin Ishbia “have reached a long-term investment agreement that establishes a framework for Ishbia to obtain a future controlling interest in the White Sox.” Under the terms of the agreement, Ishbia will make “capital infusions” into the White Sox in 2025-26 that will pay down existing debt and “support ongoing team operations.”

There will be no immediate transfer of control — and none until at least 2029. The agreement gives Reinsdorf the option of selling his controlling interest to Ishbia at any point from 2029-33. After the 2034 season, Ishbia will have he option to acquire the controlling interest from Reinsdorf. If and when Ishbia does acquire the controlling stake, other minority owners will have the opportunity to sell to him as well. His brother, Mat Ishbia, the principal owner of the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury, and his father, Jeff Ishbia, will be “significant” investors under the new agreement, too.

Reinsdorf, who purchased the White Sox in 1981, made the following statement within today’s press release:

“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. 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.”

Operating the club “as long as [he is] able” is a statement of some note. Reinsdorf is 89 as of this writing. He’ll be 90 next February and will be 93 when the initial window of potential transfer opens in 2029. By the time Ishbia has the option of purchasing the majority stake outright and of his own volition, Reinsdorf would be just a few months from his 99th birthday. That’s not intended to delve too far into the macabre, but the question of Reinsdorf’s ability to oversee day-to-day operations of the club as he ages into his mid-90s is difficult to overlook.

There’s also the question of the White Sox’ location. They’ve been on Chicago’s south side more than a century — one of the eight charter MLB teams established back in 1901. Reinsdorf has previously sought to move the Sox to Central Florida in the late 1980s and early 1990s. There have been far more recent rumors and speculation about a potential relocation to Nashville,…