White Sox ownership transition window narrows after limited partners sell their stake to billionaire Justin Ishbia

White Sox fans, the countdown to hopefully having a new owner has begun.

Rumor has it that a majority of the Chicago White Sox limited partners agreed to a Chicago billionaire and private equity investor’s offer to buy their franchise shares based on a $1.8 billion valuation of the club.

It is reported that Justin Ishbia is increasing his minority stake in the team with the hopes that it will allow him to one day assume a controlling interest from current owner Jerry Reinsdorf.

Sean Anderson of CHGO Sports first spilled the news on X on Wednesday. Jon Greenberg, senior columnist of The Athletic, validated his announcement hours later.

Unbeknownst to many Sox fans, Ishbia’s increase in Sox ownership has been in the making for four years.

According to Kurt Badenhausen and Eben Novy-Williams, he and his brother Mat first purchased a small share in 2021.

However, such an elongated timeline has made many skeptical that Justin will obtain sole ownership in the near future.

USA Today’s Bob Nightengale recently expressed his doubt about a swift ownership change on Wednesday’s episode of the Mully and Haugh Show. He said, “[Ishbia has] been trying to buy the White Sox for a long, long time. He keeps saying, ‘Can I buy, can I buy?’ The answer is always, ‘No, not now, not now.’ It might be different five years from now. … He’s been inquiring about the White Sox for the last, you know, five years, if not decade.”

Nightengale’s disbelief that Reinsdorf is planning to sell the Sox soon doesn’t consider one key factoid: Reinsdorf approached Ishbia with the opportunity to increase his shares and perhaps offered him a path to become the next owner. Amidst his pursuit of buying the Twins, Reinsdorf pulled an uncharacteristic move and thwarted the Twins’ plans to name the Ishbias their next owners. 

Ishbia wouldn’t have recklessly abandoned his pursuit of becoming the Twins’ owner, which was practically written in stone then, to be a Sox minority owner for the foreseeable future. While it may never be revealed, it’s hard to believe that Reinsdorf is stringing him along - and that Ishbia is ignorant or doesn't care. And if that’s the case, Reinsdorf is on borrowed time before Ishbia catches on.

Reinsdorf’s days are numbered. With Ishbia at the front of the line to become the next owner, it’s only a matter of time before Chicago cuts ties with Reinsdorf. The end is in sight!