Investor Haults Pursuit of Twins, Looks to Raise Minority Share in White Sox
New Development in Baseball Ownership
MESA, Ariz. — Justin Ishbia is retreating from his pursuit to own the Twins and has designs on purchasing a larger minority share of the White Sox. According to The Athletic, this move is reported to be a new development in the ownership landscape of the Chicago White Sox.
Background on Ishbia’s Interest
The Pohlad family, which owns the Twins, had hoped to have a buyer by Opening Day, believed to be Ishbia, 47, who founded a private equity firm in Chicago and has a home in Winnetka. Ishbia and his brother Mat own the Phoenix Suns of the NBA and Phoenix Mercury of the WNBA, with Mat being the controlling partner.
Ishbia’s Assets
Ishbia has an estimated worth of $5.1 billion, according to Forbes. His brother Mat’s estimated worth is $9.4 billion. The Reinsdorf family reportedly approached Justin about enhancing his ownership of the Sox when it became known he was interested in buying the Twins.
Reinsdorf’s Statement
Through Sox vice-president of communications Scott Reifert, Reinsdorf made clear that limited partnerships have nothing to do with the operation of the Sox. “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,” Reifert said. “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.”
Sox Valuation
The Sox are worth $2.05 billion according to a Forbes valuation in 2024.
Injury Update – Berroa Exits with Sore Elbow
It took one Cactus League game for the Sox to endure an injury. Right-hander Prelander Berroa, who was targeted for a role in the bullpen, exited the Sox’ 7-3 loss to the Cubs with right elbow discomfort. Berroa was slated to have an MRI done Saturday night. He faced five batters, recorded one out, and gave up three hits, including a home run to Ben Cowles.
Contract Updates
The Sox agreed to terms with all 30 pre-arbitration eligible 40-man roster players. The highest three salaries, excluding Tyler Gilber coming off a non-roster addition with Diamondbacks): Jared Shuster $772,350 Korey Lee $771,000 Miguel Vargas $770,400.
Obituary – Eddie Fisher
Eddie Fisher, a right-hander whose 15-year major league career included an All-Star selection for the Sox and a World Series title with Baltimore, died after a brief illness. He was 88. Born in Shreveport, Louisiana, Fisher made his big league debut in 1959 for the San Francisco Giants. He later played for the White Sox from 1962-66 and Orioles, as well as Cleveland, California, and St. Louis.
Conclusion
Ishbia’s decision to halt his pursuit of the Twins and focus on purchasing a larger minority share in the White Sox marks a significant shift in the baseball ownership landscape. While some may view this move as potentially raising his chances of ownership in the future, Reinsdorf’s statement makes it clear that limited partnerships have no impact on the operation of the team.
FAQs
* What is the current valuation of the Chicago White Sox?
The Sox are worth $2.05 billion according to a Forbes valuation in 2024.
* What is the current status of Ishbia’s pursuit of the Twins?
Ishbia has halted his pursuit of the Twins and is now looking to purchase a larger minority share in the White Sox.
* What is the significance of this development in the ownership landscape?
This move may potentially raise Ishbia’s chances of ownership in the future, but Reinsdorf’s statement makes it clear that limited partnerships have no impact on the operation of the team.
