Jerry Reinsdorf Reaches Long-Term Agreement That Could Transfer White Sox Ownership to Justin Ishbia
The White Sox announced Thursday that they have reached an agreement that will give Justin Ishbia, the brother of Phoenix Suns owner Mat Ishbia, the chance to buy a future controlling interest in the club. Far from an immediate sale, this is a long-term play that allows Ishbia to gradually increase his stake in the team over a period of at least four years.
I’m on a plane about to take off, so I’ll share some of the press release and leave it at that.
The agreement provides that, from 2029–2033, Reinsdorf will have the option to sell the controlling interest to Ishbia. 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. In addition to Justin Ishbia, his brother Mat Ishbia, and father Jeff Ishbia will also be significant investors. There is no assurance that any such future transaction will occur, and in no event will such a transaction take place before 2029. Until such time, the Reinsdorf family will continue to own the controlling interest in the White Sox.
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