After the worst season in Major League Baseball history, Jerry Reinsdorf is now apparently seriously considering selling the Chicago White Sox.
Reinsdorf is both open to the idea and in active discussions with a potential buyer for the White Sox, according to Brittany Ghiroli of The Athletic. It is unclear how far these talks – which are reportedly taking place with a group led by former player, coach and director Dave Stewart – have progressed.
Reinsdorf first bought the White Sox for about $20 million in 1981, making him the second-longest active owner in the league, behind only the Steinbrenner family, which owns the New York Yankees. According to the White Sox are now worth just over $2 billion. They are the 15th most valuable team in the league.
Reinsdorf, 88, is the majority owner of the White Sox, owning just under 20%. The White Sox have made the playoffs just six times under his leadership, most recently in 2021, although they won the World Series in 2005. That was the franchise’s first title since 1917.
The White Sox went 41-121 in one season this year. The team also fired manager Pedro Grifol in August after less than two years in the job. Naturally, their actions led to many calls from fans to sell the team.
Last month’s season was “a failure.”
“As leader of this organization, that is my ultimate responsibility. There are no excuses,” he says. “I want to thank you for continuing to support the team during an embarrassing season. You all deserved better.”
Reinsdorf also owns the NBA’s Chicago Bulls. He purchased the team in 1985 for approximately $16 million, and oversaw their dominant run with Michael Jordan, which produced six titles over an eight-year period. The Bulls are now valued at $4.6 billion, making them the sixth most valuable team in the league.
Previously, Reinsdorf has not publicly expressed interest in selling the White Sox. He has said 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 completed, if at all, and whether Stewart’s ownership group will be part of that deal. Stewart won three World Series titles as a player, and his ownership group has contributed to efforts to establish both an MLB expansion team and an NWSL team in Nashville. The White Sox’ current lease at Guaranteed Rate Field runs through 2029, although Reinsdorf and the team have pushed for a new stadium in the Chicago area. It’s unclear if Stewart would try to move the team to Tennessee.
Regardless of what the future holds for the organization, it appears Reinsdorf is finally ready to part ways with the White Sox.
