In a significant development for Major League Baseball, Chicago White Sox chairman Jerry Reinsdorf has laid the groundwork for a future ownership transition by entering into a long-term investment agreement with billionaire private equity investor Justin Ishbia. The deal, announced on June 5, 2025, positions Ishbia to potentially assume controlling interest in the franchise between 2029 and 2034.

Under the terms of the agreement, Ishbia will inject capital into the White Sox as a limited partner in 2025 and 2026, aiding in debt reduction and supporting ongoing operations. Reinsdorf, who has owned the team since 1981, retains control but has the option to sell the franchise’s controlling interest to Ishbia between 2029 and 2033. If a deal isn’t completed by then, Ishbia will have the option to take over after the 2034 season.

Reinsdorf, 89, expressed his sentiments in a statement: “Having the incredible opportunity to own the Chicago White Sox and be part of Major League Baseball for nearly 50 years has been a life-changing experience. I have always expressed my intent to operate the White Sox as long as I am able and remain committed to returning this franchise to the level of on-field success we all expect and desire.”

The potential change in ownership comes at a time when the White Sox are seeking a resurgence. The team set a modern-day MLB record for losses last season, finishing with a 41-121 record, and is currently off to another challenging start. Fans have been vocal about their desire for new leadership to revitalize the franchise.

Ishbia, 47, is the founder of Chicago-based Shore Capital Partners and holds a significant stake in United Wholesale Mortgage. He is also a part-majority owner of the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury, along with his brother Mat Ishbia. Additionally, he holds a minority stake in MLS club Nashville SC.

While the agreement outlines a clear path for Ishbia to eventually take over the White Sox, it does not guarantee that the transaction will occur. Reinsdorf remains the sole decision-maker for the foreseeable future, and the team emphasized that there is no assurance any such future deal will happen or that an ownership change will occur before 2029.

The White Sox are also exploring avenues to build a new ballpark, with Reinsdorf lobbying for a new stadium in Chicago’s South Loop. However, these plans may face challenges, especially after the Chicago Fire FC announced intentions to build in the same area.

As the franchise navigates these developments, the agreement between Reinsdorf and Ishbia represents a potential turning point for the White Sox, offering hope for a revitalized future under new leadership.

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