Chicago Sports franchise completes major agreement to sell organization to justin ishbia
Photo credit: Chicago Crusader
It appears Chicago Bulls and Chicago White Sox owner Jerry Reinsdorf has set the stage to hand over ownership of the White Sox to Justin Ishibia.
In what could be welcome or startling news, the Chicago White Sox could have new ownership in the future.
It was reported today by the team that owner Jerry Reinsdorf and businessman Justin Ishibia have entered into a long-term investment agreement.
The deal would end with Ishibia gaining ownership of the team later down the road, possibly between the years of 2029-2033. He will also be able to gain the controlling interest in the MLB team in 2034 after those four years have passed.
Of course, all the other limited investors in the team will have to sell their stake in the team as well.
"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.
"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."
"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."
For now, the long-term investment agreement has begun and could conclude in 2029 up until 2034, depending on how Ishibia plays his hand.
Ishibia currently owns the WNBA's Phoenix Mercury (part-majority) and the NBA franchise, the Phoenix Suns, which ironically were the Chicago Bulls' nemesis in the NBA Finals in 1993, when Charles Barkley took on the Bulls and Michael Jordan in an exciting matchup.
Mat and Jeff Ishibia will be investors in the deal as well, which could see the White Sox change direction, possibly for the better.
The White Sox are now 5th in the American League Central, with a record of 19-43.
We miss the days of Frank Thomas!
| POLL | ||
JUIN 5 | 270 ANSWERS Chicago Sports franchise completes major agreement to sell organization to justin ishbia Do you think owner Jerry Reinsdorf of the Chicago White Sox should sell the team to Justin Ishibia now? | ||
| Yes | 204 | 75.6 % |
| No | 66 | 24.4 % |
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