The Chicago White Sox have consistently been one of the worst MLB teams under franchise owner Jerry Reinsdorf, now entering a 20-year drought without even reaching the American League Championship Series. With hope already on the horizon, thanks to an ongoing rebuild, recent rumors surfaced about a potential sale.
With the Minnesota Twins poised to be sold within the next calendar year for at least $1.4 million, there’s money to be made for Reinsdorf in selling the White Sox. Even after consecutive seasons with 100-plus losses, Forbes estimated the franchise value at $2 billion.
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There have already been changes on the ownership side this year. In February, per The Athletic, billionaire Justin Ishbia backed off his pursuit of the Twins to buy a larger stake in the White Sox franchise. It was followed by recent MLB rumors about Reinsdorf potentially selling the club outright.
However, Bob Nightengale of USA Today reported on Sunday that there is no truth to the recent ‘rumors and speculation’ about the White Sox being sold. Reinsdorf has told those close to him that he has ‘no interest’ in selling the team as long as he is in good health.
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While Ishbia has made inquiries about purchasing a majority control of the club, those efforts have been rebuffed by Reinsdorf. Even with Ishbia obtaining a greater stake in the franchise, that came to fruition because he bought smaller stakes from minority owners.
As a result, the 89-year-old Reinsdorf will remain the majority owner after purchasing the club for $19 million in 1981. Given that the White Sox owner is still in relatively good health, it could be years before Ishbia has an opportunity to buy the controlling stake of the franchise.
