REINSDORF IS GONE FOR ISHBIA — BUT POSSIBLY NOT UNTIL 2034 — AND THEN WHAT?
In another maddening display that makes White Sox fans wait — once again — the owner has sort of agreed to give controlling interest to Justin Ishbia, who could stay or move the team to Nashville
On what should be a rapturous day in remote slices of Chicago, where the White Sox still have life, I’m not sure it qualifies. Justin Ishbia — who seems to have existed only in this column — can purchase the treacherously lost ballclub from Jerry Reinsdorf as soon as 2029 or possibly as late as 2034. That means fans must wait once again for seasons to pass, quite a long time, for Reinsdorf to move aside in his 90s.
Maybe as late as age 98.
Heaven help us.
And it also might mean that Ishbia, whose close connections with Nashville were made clear in this column, can either help Reinsdorf cut a new stadium deal in The 78 neighborhood or eventually move the franchise to Tennessee. As a limited partner, he is required this year and next year to make capital infusions, pay down existing debt and support “ongoing team operations.” Ishbia will be using his net worth — $4.7 billion, compared to Reinsdorf’s $2.3 billion — to try and help restore the Sox from their current predicament among the ugliest Major League Baseball teams ever.
That’s a sweet deal for Reinsdorf, who is stuck in turmoil without many fans and might never leave last place in the American League. But the problem for Ishbia? Try reading this sentence aloud: “There is no assurance that any such future transaction will occur, and in no event will such a transaction take place before 2029,” the team statement said. The agreement requires Ishbia to wait … and wait … and wait — and though he owns a $77.6 million waterfront estate in Winnetka, maybe he’ll realize in the next few years that keeping a lousy second team in Chicago makes less sense that moving to Nashville and starting anew.
Nothing in the framework suggests the Sox will have any interest in producing private money for a new ballpark. Ishbia might not be opposed, as someone who intends to be a controlling partner, but until Reinsdorf hands over the keys to Ishbia, he will own and operate the team. If Ishbia is allowed to speak publicly — he has ignored my contacts for weeks — he should make it known that he’ll pay for the new ballpark.
That has not happened. Nor will it. That’s because Reinsdorf is in charge at least until 2029, after which he can sell controlling interest to Ishbia. If Reinsdorf waits longer, Ishbia can take over after the 2034 season — only months from Jerry’s 99th birthday.
Even when Reinsdorf is ready to give up, he never gives up. In a statement to The Athletic, Ishbia shares a local path for now. We’ll see. “An investment in the future of the Chicago White Sox,” he said, “and I am excited for the opportunity to deepen my commitment to the city and the team. I love Chicago, have always loved baseball, and am thrilled to marry two of my passions.”
At some point, Ishbia might wonder if he can buy the Pittsburgh Pirates or Tampa Bay Rays. This is mass insanity.
“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 release. “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.”
The Sox were 41-121 last year. They are 19-43 this year, with the 29th-rated payroll among 30 teams. This is not the success anyone expects and desires. This is dreaded territory for any sports team, especially in Chicago, Illinois, where the Cubs are making a pennant run with Kyle Tucker and the thrilling Pete Crow-Armstrong.
If the deal finally happens, other Sox limited partners can sell to Ishbia. Until then, fans also should get used to Justin and brother Mat — who has spent NBA highs of $214 million in salaries and $152 million in luxury-tax payments with the Phoenix Suns — and father Jeff Ishbia. The trio will be investors.
So if Justin and Mat want to buy Tucker if Tom Ricketts passes, what would Reinsdorf say to the people who are paying down existing debt.
No.
For all we know, MLB might not even exist in 2027, after the collective bargaining agreement expires. If it does, Reinsdorf will keep smoking his friggin’ cigar.
At age 95.
By then, will any fans remain? Or will they be watching the Chicago Fire in The 78?
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Jay Mariotti, called “without question the most impacting Chicago sportswriter of the past quarter-century,’’ writes general sports columns for Substack while appearing on some of the 1,678,498 podcasts and shows in production today. He is an accomplished columnist, TV panelist and talk/podcast host. Living in Los Angeles, he gravitated by osmosis to film projects.