White Sox fans welcomed the news Thursday that team chairman Jerry Reinsdorf has reached a long-term agreement that sets a framework for minority investor Justin Ishbia to eventually take controlling interest in the team.
Reinsdorf, 89, has owned the franchise since 1981 when he and Eddie Einhorn led a group to purchase the Sox from Bill Veeck. Since then, the Sox have won one World Series in 2005 and have reached the playoffs six other times.
“We need something new in this city. We’re tired of the same stuff. I think it’s nice that we’ll have ownership that’ll do something new,” Jack Frangella, 22, of Garfield Ridge, said Thursday outside Rate Field before the Sox’ win over the Detroit Tigers.
“I think it gives us a little bit more hope as to the future of the team,” he added. “Honestly, it’s not a quick fix, but it’s something that we can look forward to as fans.”
Reinsdorf is still the decision-maker for the Sox, but he will have the option to sell controlling interest to Ishbia from 2029-33, the team announced. Ishbia will have the option to acquire controlling interest in the team following the 2034 season.
The fan base’s clamoring for new ownership reached a tipping point last season when the Sox set a modern-era MLB record for losses with 121.
Many fans have complained the Sox haven’t spent enough money in free agency to attract star players, and that they’ve acted like a small-market team despite doing business in one of the largest markets in baseball.
The Sox’ $67.8 million team payroll for the 2025 season is the second lowest in the league. They have never paid a player more than $100 million on a single contract (Andrew Benintendi’s five-year, $75 million deal is the largest in franchise history).
“Maybe somebody who will actually spend money,” longtime Sox fan Joey Shultz, 21, said of what he hopes to see under potential new ownership.
Ishbia, 47, has an estimated net worth of more than $5 billion, according to Forbes, compared to Reinsdorf’s $2.3 billion. Ishbia’s brother, Mat, is the controlling owner of the Phoenix Suns and Phoenix Mercury basketball teams.
Frangella and a few of his friends said they hope Ishbia decides to take controlling interest in the franchise and that it will result in the team spending more money on star players and being more aggressive with trades.
Another longtime fan, Samantha Chuskas, said Reinsdorf’s potential sale of the team is overdue.
“There’s light at the end of this very dark tunnel, for sure, because we definitely need a change,” said Chuskas, 50, from Bridgeport. “Something’s got to give. … I think once [Reinsdorf’s] gone, we’re gonna win.”