Billionaire Justin Ishbia has reached a long-term agreement to purchase a majority stake in the Chicago White Sox from Jerry Reinsdorf, expected between 2029 and 2033. Ishbia, who currently holds a minority stake and also owns a portion of the Phoenix Suns and Mercury, intends to purchase more shares to help alleviate the team's debt. Meanwhile, discussions about moving the team to Nashville have surfaced but Reinsdorf insists he has no plans to relocate, emphasizing his commitment to Chicago.
"Having the incredible opportunity to own the Chicago White Sox and be a part of Major League Baseball for nearly 50 years has been a life-changing experience," Reinsdorf said in the statement.
Ishbia plans to up his minority stake in the White Sox in 2025 and 2026 to help reduce the team's debt.
Collection
[
|
...
]