Jerry Reinsdorf, the longtime majority owner of the Chicago White Sox, is considering selling the team, as reported by sources who prefer to remain anonymous and were briefed on the situation, to The Athletic. The 88-year-old Reinsdorf is currently in talks with a group led by former major league player Dave Stewart.
In 1981, Reinsdorf led a consortium to purchase the White Sox for approximately $20 million, making him the second-longest active owner in Major League Baseball, second only to the Steinbrenner family, who acquired the Yankees in 1973. Forbes estimates that Reinsdorf holds about 19 percent of the White Sox, and all of his shares are thought to be part of the ongoing sale discussions. Reinsdorf is the second owner in a week to consider selling, following the Pohlad family’s announcement on Thursday regarding their exploration of selling the Minnesota Twins, a franchise they have owned since 1984.
Both Reinsdorf and Stewart declined to comment when contacted by The Athletic.
This news marks a significant shift for Reinsdorf, who is the oldest majority owner in baseball. Until now, he has shown no previous interest in selling the team, at least while he remains its majority owner. Reinsdorf has publicly stated that he advised his heirs to sell the White Sox while retaining the Chicago Bulls, where his son, Michael, serves as COO and team president.
The reasons for this potential change are unclear, although Reinsdorf has expressed his desire for substantial changes within the organization, particularly following a season in which the team suffered a record 121 losses.
Dave Stewart, a versatile figure in baseball who has played, coached, and served as an agent and executive, boasts an impressive track record. He won World Series championships with the Los Angeles Dodgers, Oakland Athletics, and Toronto Blue Jays. Notably, he achieved four consecutive 20-win seasons with Oakland, earning him a spot in the exclusive “Black Aces” club.
Stewart’s organization, Smoke34, previously attempted to acquire Oakland’s stake in the Oakland Coliseum. He has also been working diligently to acquire a baseball expansion team for Nashville and is leading efforts for an NWSL team in that city, which is a finalist for selection, with an announcement anticipated next month.
It remains uncertain what Stewart’s potential role might entail for the White Sox’s long-term future in Chicago.
This news arrives amid the White Sox’s pursuit of a new stadium within the next four years, with new renderings released in February for a potential location in the South Loop. Last month, the team set up a temporary field at the proposed site as they seek funding. This site is a 62-acre undeveloped area in the South Loop called “The 78,” named for its possibility of becoming Chicago’s 78th neighborhood. Located just south of downtown Chicago, this land would reportedly require a mix of private and public financing, the latter of which has faced significant skepticism.
The White Sox currently have a lease at Guaranteed Rate Field that extends through 2029, although Reinsdorf has previously expressed a desire to relocate before the lease concludes.
Under Reinsdorf’s stewardship, the White Sox won the World Series in 2005 and have made the playoffs three times since, but they have yet to win a postseason series. This lack of success has led to the dismissal of both team president Kenny Williams and general manager Rick Hahn last year.
New GM Chris Getz has also terminated manager Pedro Grifol during the season. These ongoing changes and the team’s performance have prompted Reinsdorf to make various public statements, including addressing The Athletic last month.
“This year has been incredibly difficult for everyone, especially our fans,” Reinsdorf communicated through a team spokesperson in September. “Our current situation did not arise overnight, and solutions will not materialize quickly. Looking back to last year, we have made tough decisions and changes. Those changes have continued this summer, and we look forward to introducing a new manager with fresh energy this fall.”
More changes may well be on the horizon.
GO DEEPER
An owner who ‘thinks he knows everything’ led the White Sox to historic disaster
(Top photo of Jerry Reinsdorf in 2023: John J. Kim/Chicago Tribune/Tribune News Service via Getty Images)
Jerry Reinsdorf Signals Potential Sale of Chicago White Sox Amid Organizational Turmoil
Understanding the Current State of the Chicago White Sox
The Chicago White Sox, a storied franchise in Major League Baseball (MLB), is currently experiencing significant organizational turmoil, leading to speculation about the potential sale of the team by Jerry Reinsdorf. As the owner since 1981, Reinsdorf has seen both highs and lows, but recent developments have prompted discussions about the future of the franchise.
Recent Developments and Rumors
In recent months, the White Sox have struggled on the field, leading to dissatisfaction among fans and stakeholders. Notable issues include:
- Poor team performance and declining attendance figures.
- Management decisions that have raised eyebrows, including player acquisitions and coaching changes.
- The absence of a clear direction for the franchise, leading to uncertainty about its future.
As a result, Jerry Reinsdorf has found himself in the spotlight, and rumors of a potential sale have intensified. Industry insiders suggest that a sale could be on the horizon if the team fails to rebound in the coming seasons.
The Implications of a Sale
If Jerry Reinsdorf decides to sell the Chicago White Sox, it could have significant implications for the team, its fans, and the Chicago baseball community. Here are some potential outcomes:
- Fan Reactions: The sale could breathe new life into the fan base, especially if the new owner brings a fresh perspective and vision.
- Financial Considerations: Selling the team could generate substantial revenue, allowing for increased investment in player development and facilities.
- Market Impact: A change in ownership could shift the dynamics of the local baseball market and influence other teams in the area.
Jerry Reinsdorf: A Controversial Figure
Throughout his tenure, Jerry Reinsdorf has been a polarizing figure among White Sox fans. Here are a few key points that illustrate his complicated legacy:
- Reinsdorf was instrumental in bringing the 2005 World Series championship to Chicago, a high point for the franchise.
- However, his management style, particularly regarding the hiring and firing of coaches and front office staff, has often faced criticism.
- The ongoing struggles of the White Sox since their postseason appearances in 2020 have raised questions about his commitment to building a competitive team.
Financial State of the Chicago White Sox
Understanding the financial condition of the White Sox is critical when discussing a potential sale. Here are some important financial metrics:
| Financial Metric | 2022 | 2023 (Projected) |
|---|---|---|
| Revenue | $300 million | $280 million |
| Operating Income | $25 million | $5 million (Projected Loss) |
| Attendance | 1.5 million | 1.2 million (Projected) |
Potential Buyers: Who Could Step In?
Should Jerry Reinsdorf decide to sell the Chicago White Sox, several potential buyers could emerge, including:
- Local Business Figures: Wealthy Chicagoans with a passion for sports might consider purchasing the team to revitalize its image.
- National Investors: Investors seeking to expand their sports franchise portfolios may see the White Sox as an attractive opportunity.
- Group Ownership Models: Similar to other franchises, a group of investors could pool resources to purchase the team, ensuring a diverse ownership group.
Impact on Team Performance
The potential sale of the Chicago White Sox could lead to changes in team performance, both short-term and long-term. Here are some areas where impact may be felt:
- Management Changes: A new owner may decide to overhaul the front office, bringing in fresh talent and ideas.
- Investment in Players: An injection of capital from the sale could lead to increased spending on player acquisitions, improving competitiveness.
- Fan Engagement: New ownership could focus on improving the fan experience, which may lead to increased attendance and loyalty.
Case Studies: Successful Franchise Sales
Examining case studies of successful franchise sales can provide insights into what the future may hold for the Chicago White Sox. Here are a few noteworthy examples:
- Los Angeles Dodgers: Sold for $2 billion in 2012, the new ownership group invested heavily in player acquisition and facility improvements, leading to multiple postseason appearances.
- Chicago Cubs: The Ricketts family purchased the Cubs in 2009 and focused on rebuilding both the team and Wrigley Field, culminating in a World Series win in 2016.
Benefits of a Potential Sale
With the organizational turmoil the White Sox are experiencing, a potential sale could yield several benefits, including:
- New Vision: Fresh ownership could bring a new vision that aligns with modern baseball strategies.
- Increased Investment: A new owner might be willing to spend more on player development and scouting.
- Community Engagement: An interested ownership group might prioritize community outreach and fan engagement.
Practical Tips for White Sox Fans
As discussions about a potential sale continue, White Sox fans can take proactive steps to stay engaged:
- Attend Games: Support the team by attending games and showing your loyalty.
- Engage on Social Media: Participate in conversations about the team and share your thoughts on potential ownership changes.
- Stay Informed: Follow credible sports news sources to stay updated on any developments regarding ownership and team performance.
First-Hand Experience: Fan Perspectives
The sentiments of White Sox fans play a crucial role in shaping the team’s future. Many fans express a mix of optimism and concern regarding the potential sale:
- Optimism for Change: Some fans believe that new ownership could rejuvenate the franchise and improve its standing in MLB.
- Concerns about Stability: Others worry that a change in ownership might lead to instability and further uncertainty.
Conclusion
As Jerry Reinsdorf signals a potential sale of the Chicago White Sox amid ongoing organizational turmoil, fans and stakeholders are left to ponder the future of this beloved franchise. Whether through new ownership or a revitalized management strategy, the hope remains that the White Sox will rise again to their former glory.
