White Sox owner Jerry Reinsdorf reportedly in discussions about selling team after historically bad season
Reinsdorf first purchased team for about $20 million in 1981, 4 years before he bought Chicago Bulls
After the worst season in Major League Baseball history, Jerry Reinsdorf is now apparently seriously contemplating selling the Chicago White Sox.
Reinsdorf is open to the idea and in active discussions with a potential buyer for the White Sox, according to The Athletic’s Brittany Ghiroli. It’s unclear how far those discussions — that are reportedly with a group led by former player, coach and executive Dave Stewart — have progressed.
Reinsdorf first purchased the White Sox for about $20 million in 1981, which makes him the second-longest active owner in the league behind only the Steinbrenner family, who own the New York Yankees. According to Forbes’ latest valuations, the White Sox are now worth just more than $2 billion. They are the 15th-most valuable team in the league.
Reinsdorf, 88, is the majority owner of the White Sox, and he owns just shy of 20%. The White Sox have made the playoffs six times under his leadership, most recently in 2021. They won the World Series in 2005, marking the franchise’s first title since 1917.
The White Sox went 41-121 this year, which set the MLB record for most losses in a single season in the modern era. The team also fired manager Pedro Grifol in August after less than two years in the job. Naturally, their performance led to plenty of calls from fans for Reinsdorf to sell the team.
The season, Reinsdorf said in a letter to fans last month, “was a failure.”
“As the leader of this organization, that is my ultimate responsibility. There are no excuses,” he wrote, in part. “I want to thank you for continuing to support the team throughout what was an embarrassing season. You all deserved better.”
Reinsdorf also owns the NBA’s Chicago Bulls. He purchased the team in 1985 for about $16 million, and oversaw their dominant run with Michael Jordan that brought in six titles over an eight-year span. The Bulls are now valued at $4.6 billion by Forbes, which makes them the sixth-most valuable team in the league.
Previously, Reinsdorf has not publicly shown interest in selling the White Sox. He has said that he wants his heirs to sell the White Sox and keep the Bulls after his death. Reinsdorf’s son, Michael, is the Bulls’ current COO and team president.
It’s unclear when the sale of the White Sox will be finalized, if at all, or if Stewart’s ownership group will be part of that deal. Stewart won three World Series titles as a player, and his ownership group has been part of trying to land both an MLB expansion team and an NWSL team in Nashville. The White Sox’s current lease at Guaranteed Rate Field runs through 2029, though Reinsdorf and the team have been pushing for a new stadium in the Chicago area. It’s unclear if Stewart would attempt to move the team to Tennessee.
Regardless of what the future may hold for the organization, it appears that Reinsdorf is finally ready to part with the White Sox.
