Changes are coming for the White Sox.
Owner Jerry Reinsdorf reached an agreement with billionaire Justin Ishbia that will give Reinsdorf the option in the coming years to sell the team to Ishbia before the latter then gets the ball in his court as the decider of the transaction come 2034.
“The agreement provides that, from 2029-2033, Reinsdorf will have the option to sell the controlling interest to Ishbia,” the White Sox announced in a press release Thursday. “After the 2034 season, Ishbia will have the option to acquire the controlling interest. In the event of any such future transaction, all limited partners of the Sox would have the opportunity to sell to Ishbia at that time.”
Ishbia is the older brother of Phoenix Suns and Mercury owner Mat Ishbia.
Justin Ishbia has worked alongside his brother as a part majority owner since Mat Ishbia purchased the Phoenix squads in 2023.
Justin Ishbia also owns a minority stake in Nashville SC of MLS.
Prior to his formal White Sox agreement with Reinsdorf, Ishbia has held a minority stake in the team since 2021.
Chicago is fresh off the worst season in modern MLB history with a 41-121 record — and things haven’t looked too much better this season either.
The White Sox (20-43) hold the second-worst record in baseball and are last in the American League this season.
The shift of the controlling stake is the first in decades as Reinsdorf purchased the White Sox all the way back in 1981.
“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 the statement from the White Sox. “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.”
Under Reinsdorf’s tutelage as the chairman and top decision maker for 44 seasons, Chicago has made the playoffs seven times and won one World Series.
The 89-year-old Reinsdorf will remain the sole day-to-day decision maker moving forward until the agreement with Ishbia kicks in.