New Questions Emerge as White Sox Ownership Shake-up Looms

Boy, did things take an interesting turn for the Chicago White Sox on Friday night? A bombshell was dropped as the team was on the eve of its Cactus League opener.

The second biggest news story surrounding the team in the last twenty years surfaced that Justin Ishbia, a minority shareholder and the individual perceived to be the front-runner to acquire the Minnesota Twins, was abandoning his pursuit of the White Sox division rival to increase his shares in the team .

This story has been met with overwhelming optimism and hope from Sox fans at a time when it is sorely needed.

It first came to light a few weeks back that Ishbia was a minority shareholder in the club as he was advancing in the process of purchasing the Twins.

Completing the acquisition of the hated rival from the North would require Ishbia to sell his stake in the Sox, but that wasn't the only tidbit that was gleaned from this report.

It was speculated that Ishbia had made an overture to acquire a controlling interest in the Sox, one that was ultimately rebuffed.

As we sit here on the 89th birthday of Chairman Jerry Reinsdorf, the news of Ishbia's interest in purchasing our beloved baseball team only to be turned away was a gut punch, to say the least.

Reinsdorf, who has been the bane of our existence for decades now, stood in the way of the Sox being controlled by someone worth a reported $5B.

This would make him the second wealthiest owner in the sport, behind only the Mets, Steve Cohen.

When it rains, it usually pours on us as Sox fans, but this news felt like a torrential downpour.

Not only was someone with deep pockets wanting to purchase our team and rescue us from the baseball hell that it currently resides in, but now he was going to purchase our most hated division rival.

I've often said if you think things can't get any worse for us as Sox fans, just wait a day or two because something is almost always waiting around the corner.

But did the news on Friday night signal a turning of the tide? Shift in Focus As I mentioned above, Ishbia was perceived to be the "leader in the clubhouse" to buy the Twins, who were looking to have a new ownership group selected by Opening Day as the Pohlad family is looking to offload the team they've owned for 40 years.

So, the news that Ishbia was abandoning his pursuit is very noteworthy.

There are 30 Major League baseball teams, and opportunities to purchase one don't come around often.

The Twins have only had two owners in their history: the family of franchise founder Clark Griffith and the Pohlads.

That's it, two ownership groups in 125 years.

For an individual to get far enough in the process of acquiring a club to the point where he is meeting with city and other government officials in the area about his plans for the club, only to pivot abruptly raises eyebrows.

For someone of Ishbia's stature and enormous wealth to make this decision, there must be a significant reason.

It was reported in the story by Jon Greenberg and Dan Hayes at The Athletic that Reinsdorfs (whether Jerry himself or one of his sons) reached out to Ishbia during his pursuit of the Twins to increase his shares in the Sox.

It can't be said enough that Ishbia wouldn't abandon his efforts to acquire the Twins unless he was given a compelling reason to do so.

In The Athletic 's piece, White Sox vice president of communications, Scott Reifert, said: ''Similar to an opportunity in 2021, White Sox limited partners have received an offer from a third party to purchase their shares in the team, providing liquidity for the limited partners on their long-term investment in the club.

This offer to limited partners has no impact on the leadership or operations of the Chicago White Sox and does not provide a path to control." So, let me get this straight.

Justin Ishbia is far enough down the road of purchasing the Twins, and now he will walk away from his pursuit of MLB franchise ownership to just up his shares in the Chicago White Sox and remain a silent partner.

Nobody is buying what is being sold here.

I know the Sox organization can't speak publicly on the issue in great detail at this time, but this simply doesn't add up.

Raised Stakes The timing of this move is also fascinating if you take a step back and look at everything surrounding this organization.

We are 18 months removed from news that the team is looking for a new ballpark, and the location in South Loop's "78" project is the most prominently discussed.

Jerry Reinsdorf and Co.

have attempted to court support for taxpayer funds to cover a majority of the costs, but those efforts have been rebuffed just about every step of the way.

With the clock ticking on the team's current ballpark lease, which is set to expire following the 2029 season, time is of the essence.

Was the decision to pull Ishbia away from the Twins a realization that the team needed another backer with deep pockets to get its desired new ballpark? Again, I don't think Ishbia would abandon his efforts to acquire the Twins simply to help fund a new South Loop stadium if he didn't stand to benefit from it long-term.

When the news of the team's stadium pursuit first emerged, Reinsdorf indicated he wanted to leave the franchise in a better position once his reign of terrorI mean ownershipended.

Has he realized that he won't be able to make this a reality without help from the outside since he is unwilling to pay for a new ballpark? Power Struggle? The Athletic 's piece indicated that the limited partners have until Friday to decide whether to accept the $1.8B offer to buy their shares.

The specific name of a Chicago-area investment advisor, BDT & MSD Partners, tells us that this is a serious situation.

The piece also highlighted that this transaction would be subject to league approval, which should not go unnoticed.

If this situation were a proverbial "nothing burger," those details would not be released into the public sphere.

So, I have to ask once again: Why would Justin Ishbia walk away from the Twins, looking to buy out limited partners, and not have a path to ownership in some capacity with the White Sox? At the same time, another question comes to mind: if this deal is completed, would it alter how the White Sox do business? If Ishbia does increase his stake in the franchise, and let's just say hypothetically he and Jerry become the two largest stakeholders, would he sit idly by and watch them continue to do business as usual? I find that hard to believe personally.

Since Justin and Matt Ishbia assumed control of the Phoenix Suns, they have been focused on improving the product on the court.

Has it materialized into success to this point, no, but they have been an ownership group that has placed a value on winning and that is something that should be praised today because we don't see enough of it, sadly.

The Suns had a luxury tax bill of $188.49M this past year, as the owners have poured resources into trying to bring a championship to the desert.

Wouldn't it be nice to see our Sox have an ownership group showing that commitment? I know the current CBA expires following the 2026 season, but the Sox have a mere $15.1M in financial commitments for the 2027 season, so they are in no way close to having any financial penalties imposed upon them under the current structure, and I find it hard to believe any new structure would be a threat given their position.

With all of this in mind, if Justin Ishbia increases his stakes in the team, is it unreasonable to think he would want to start signing real players and looking to turn around this team? But would his desire to improve the on-field product lead to strife with Jerry and other remaining partners? We all know Jerry has a four-decade history of suppressing salaries and has valued profit margins above playoff appearances, but Justin Ishbia looks to be the polar opposite.

Would these opposing viewpoints lead to internal conflict? Or could Ishbia's deep pockets alleviate Jerry's worries when it comes to handing out market-value contracts in the current baseball world? This dynamic between a staunch anti-player owner and one that wants to win at all costs would be something to monitor closely.

Word is making its way around that Jerry isn't looking to go away any time soon, so the co-existence of these two power players would create a high level of intrigue.

What Does It All Mean? If the reports of a Friday deadline are true for the limited partners to accept the $1.8B offer to buy their shares are true, that day is poised to be the most important one for the franchise since 10/26/05, and I don't think that statement is hyperbolic.

Justin Isbhia increasing his stakes in the team at the corner of 35th & Shields is a symbol of hope at a time when it's desperately needed.

The report on Friday has left us, as Sox fans, with more questions than answers, that's for sure.

The hope is that there is a light at the end of the tunnel, and the promise of better days is right in front of us.

I still struggle to believe that Justin Ishbia abandoned his opportunity to have 100% control of a Major League franchise to simply increase his shares of the White Sox, continue to be a silent partner, and maybe just help provide funding for a new stadium.

There has to be more.

Of course, the team can't say that he is the heir apparent to controlling our favorite baseball team, but why else would he do this? Why would we know specific dollar amounts and deadlines and that an investment firm based in Chicago is brokering the deal if this was just merely increasing minority shares? Jerry Reinsdorf turned 89 years old today.

He has everything he could possibly want in his life, so it's time he did something for Sox fans and gave us the gift of ownership that values winning above all else.

If he decides to remain in the picture, he just doesn't stand in the way of improving the on-field product any longer.

We've suffered a lot as Sox fans, especially in recent years.

The notion of having the second wealthiest owner in the sport, whether in the short-term or at some point in the future, is something that can immediately lift our collective spirits.

The thought of this team finally acting like a major market player is one we have all longed for, but we know that it requires new ownership.

Justin Ishbia represents hope for us as Sox fans.

If all of these reports are true, Friday can't come soon enough.

This article first appeared on On Tap Sports Net and was syndicated with permission..

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