Jerry Reinsdorf Open to Selling Chicago White Sox
Longtime majority owner Jerry Reinsdorf is reportedly open to selling the Chicago White Sox, according to sources briefed on the matter and speaking to The Athletic. The 88-year-old Reinsdorf is currently in discussions with a group led by former MLB player Dave Stewart. Reinsdorf initially acquired the White Sox for approximately $20 million in 1981 and is the second-longest-serving owner in Major League Baseball (MLB), following the Steinbrenner family, owners of the New York Yankees since 1973.
Ownership Structure and Recent Developments
Reinsdorf is estimated to own 19 percent of the White Sox, all of which is believed to be under consideration in potential sale discussions. This interest in selling marks a significant shift for Reinsdorf, who has publicly expressed no interest in selling the team for the duration of his ownership. He has previously advised his heirs to retain the Bulls while selling the White Sox after his passing. The recent strategic discussions come following a challenging season for the team, which saw them lose a record 121 games.
About Dave Stewart and His Aspirations
Dave Stewart, a former player, coach, agent, and executive, boasts an impressive career, including World Series victories with the Los Angeles Dodgers, Oakland Athletics, and Toronto Blue Jays. His group, Smoke34, has made attempts to secure ownership stakes in various ventures, including the Oakland Coliseum, and is actively working towards bringing a Major League Baseball expansion team to Nashville. Although Stewart’s involvement raises questions about the long-term future of the White Sox in Chicago, it reflects a potential new direction for the franchise.
Future Plans and Stadium Considerations
Amid these developments, the White Sox are advocating for a new stadium within the next four years. In February, they released renderings for a proposed site in the South Loop named “The 78,” which spans 62 undeveloped acres just south of downtown Chicago. The current lease for Guaranteed Rate Field, established in 1991, runs through 2029, but Reinsdorf has expressed a desire for relocation before its expiration. Under Reinsdorf’s leadership, the White Sox celebrated a World Series win in 2005 and have made additional playoff appearances, albeit without a postseason series victory. Recent organizational changes, including the dismissals of team president Kenny Williams and general manager Rick Hahn, reflect a response to the team’s struggles. Reinsdorf acknowledged the difficult season, stating, “This year has been extremely painful for all, especially our fans.”
Source and credits: www.nytimes.com
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