Chicago White Sox Owner Jerry Reinsdorf Reaches Agreement With Justin Ishbia

CHICAGO – The Chicago White Sox announced major news Thursday regarding future ownership of the team.

Owner Jerry Reinsdorf has reached a long-term investment agreement with Justin Ishbia, the founding partner of Shore Capital Partners and part majority owner of the Phoenix Suns and Phoenix Mercury. Ishbia also a minority owner of the White Sox and Nashville Soccer Club.

No transaction will take place before 2029, but this agreement allows Ishbia to potentially obtain controlling interest in the team.

Here's the full press release from the White Sox:

The Chicago White Sox today announced that Jerry Reinsdorf and 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. As part of the agreement, Ishbia will make capital infusions into the White Sox as a limited partner in 2025 and 2026 that will be used to pay down existing debt and support ongoing team operations.

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. Reinsdorf, chairman of the White Sox since purchasing the franchise in 1981, remains the sole day-to-day decisionmaker for the club.

“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,” said Reinsdorf. “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.”

BDT & MSD Partners served as the exclusive financial advisor to the Chicago White Sox and the Reinsdorf family. Katten Muchin Rosenman LLP served as the legal advisor to the Chicago White Sox. Covington & Burling LLP acted as legal advisor to Ishbia.