Billionaire Justin Ishbia and the owner of Chicago White Sox, Jerry Reinsdorf, concluded a long -term investment agreement that establishes a framework for Ishbia to obtain a future interest in the franchise, the team announced on Thursday.
Ishbia, who founded an investment capital company in Chicago, is an investor in the NBA Phoenix Suns and the Mercury of the WNBA, belonging to his brother, Mat.
According to the agreement, Justin Ishbia will make capital infusions in the White Sox as a limited partner in 2025 and 2026. This will be used to reduce existing debt and support the current team operations.
Reinsdorf, 89, will have the possibility of selling the interest controlling at Justin Ishbia, 47, between 2029-33. Ishbia already has a minority participation in the White Sox as well as the MLS Club Nashville SC.
In its assessment in 2024 of the 30 MLB clubs, Forbes ranked the 15th White Sox to $ 2.05 billion. Réinsdorf, which also has the NBA chicago bulls, bought the White Sox in 1981 for $ 20 million.
“Having the incredible opportunity to own the White Sox in Chicago and to be part of Major League Baseball for almost 50 years has been an experience that changed life,” Réinsdorf said in a statement on Thursday. “I have always expressed my intention to exploit the White Sox as long as I am able and to remain determined to bring this franchise back to the level of success on the field that we expect and desire all.”
Forbes weighs Justin Ishbia’s net value at $ 5.1 billion on his real -time list of world billionaires. Ishbia is the founder and partner director of Shore Capital Partners, who has $ 11.5 billion in management as management, according to Forbes. He also has a 22% stake in United Wholesale Mortgage, founded by his father in 1986 and managed by Mat Ishbia.
The White Sox (19-43) are bogged down in the last place of the Central American League. They set an MLB record against 121 last season.
– field level media
