Reinsdorf to sell Chi Sox ... at some point

[Frayed Knot]

So longtime CHW owner Jerry Reinsdorf has reached an agreement with Justin Ishbia, but the timing of the sale is up in the air as is the part about who decides and when.



The CHW press release (from earlier today) states: “The agreement provides that, from 2029-2033, Reinsdorf will have the option to sell the controlling interest to Ishbia ... After the 2034 season, Ishbia will have the option to acquire the controlling interest. In the event of any such future transaction, all limited partners of the Sox would have the opportunity to sell to Ishbia at that time.”



So, if I'm understanding this correctly: no sale in the next four years; then Reinsdorf decides when and if for the following five years; then, starting in 2033, Ishbia gains the power to trigger the transaction. Minority partners can also choose to sell their shares to Ishbia but he'll have Reinsdorf's controlling interest whether they do or not.



Reinsdorf, 89, has been the principal owner since 1981.

Ishbia is a part owner of the NBA's Phoenix Suns (his older brother Mat is majority owner), the WNBA's Phoenix Mercury, MLS's Nashville SC, and of the White Sox

[Benjamin Grimm]

This sounds like the originally reported deal between the Wilpons and Steve Cohen, where he'd buy the team but they would run it for five years. Which was absurd.

[Frayed Knot]

So Reinsdorf says: 'when I sell the team I'll sell my shares to you, but only at a time of my choosing'.

But starting in 2033 this Ishbia guy can essentially force the by-then 97 year old Reinsdorf to sell.



It's different than that stillborn Wilpon/Cohen arrangement, but almost as weird.

[Edgy MD]

I kind of thought Michael Jordan was the Sox owner-in-waiting.

[Frayed Knot]

Jordan was so bad as owner for the Charlotte Hornets that even his fanboys over at ESPN were forced to say so (in a very quiet voice of course). Only Charles Barkley said so out loud (cuz Charles says everything out loud) and, as a result, those two one-time friends are no longer on speaking terms. More recently Michael is owner of a team in the NASCAR circuit.

If I were a ChiSox fan I'd certainly be happy that he's not in the mix.

[Johnny Lunchbucket]

Reinsdorf and Fred were total buds.



The White Sox need new ownership like no other team. I think they are a secretly cool franchise that just does a lot of things wrong.



Reinsdorf apparently will keep the Bulls (which he also owns) to pass along to his family.

[Johnny Lunchbucket]

Frayed Knot wrote: Jordan was so bad as owner for the Charlotte Hornets that even his fanboys over at ESPN were forced to say so (in a very quiet voice of course). More recently Michael is owner of a team in the NASCAR circuit.

Maybe not for long. He heads one of two teams challenging Nascar's charter deal, which offers its teams access to races and better prize money, but restricts them from participating in other circuits, requires them to only use approved parts, etc. It's a kind of a reserve-clause battle in motorsports.



Jordan hasn't signed the charter deal--but the team has been participating in this season under terms of the charter while the court battle plays out. Yesterday a court ruled that Nascar needn't treat them like a charter team anymore.

[Johnny Lunchbucket]

Think about all the cool things you get when you purchase the White Sox



--charter American League franchise

--an "outlaw" image from the Black Sox scandal

--A history of cool and experimental uniforms (red pinstripes, black pioneer, shorts and collars, brutalist SOX, flying sock)

--Infrequent glory but memorable teams like "Go-Go Sox" and "Winning Ugly"

--Underdog positioning vs the Cubs, who are actually easy to topple and owned by worse people than you

--Colorful historical authority figures like Charles Comiskey, Bill Veeck, Kid Gleason, Ozzie Guillen

--Lots of Hall of Famers

[Benjamin Grimm]

And Ted Lyons!



I know nothing about Ted Lyons other than that he was a Hall of Fame pitcher who was a White Sock. He's helped me out on the Immaculate Grid a few times.



There was a time, when I was a kid reading about baseball all the time, that I was at least a little bit familiar with most of the people who were in the Hall of Fame at the time. But Ted Lyons was my who-the-hell-is-that guy.



Maybe someday I'll actually look him up and find out why he's a Hall-of-Famer.

[Bob Alpacadaca]

Johnny Lunchbucket wrote: Think about all the cool things you get when you purchase the White Sox --charter American League franchise --an "outlaw" image from the Black Sox scandal --A history of cool and experimental uniforms (red pinstripes, black pioneer, shorts and collars, brutalist SOX, flying sock) --Infrequent glory but memorable teams like "Go-Go Sox" and "Winning Ugly" --Underdog positioning vs the Cubs, who are actually easy to topple and owned by worse people than you --Colorful historical authority figures like Charles Comiskey, Bill Veeck, Kid Gleason, Ozzie Guillen --Lots of Hall of Famers

And colorful folks like Minne Minoso, with a glorious baseball nickname and legendary fan engagement.

[Fman99]

I'd say an easy franchise for a Mets fan to pull for, being able to relate to being a big city's (historically) second most popular baseball team.

[Johnny Lunchbucket]

White Sox have a lot of cool gate giveaways this year as they celebrate their 125th anniversary



Pegleg Bill Veeck bobblehead



Richie Allen Sports Illustrated cover bobblehead (the one where he's juggling)



1959 Comiskey Park AM/FM radio

[Benjamin Grimm]

My only real gripe with the White Sox is that they poached Tom Seaver.



I wish the Mets had been able to poach Ted Lyons.

[Bob Alpacadaca]

Benjamin Grimm wrote: My only real gripe with the White Sox is that they poached Tom Seaver. I wish the Mets had been able to poach Ted Lyons.

Instead, the White Sox poached Tom Seaver I do appreciate that they, to this day, pay appropriate honors at the stadium. A mural of that era has Tom jumping into Carlton Fisk's arms after the 300th win.

[Edgy MD]

From exploding scoreboards to Disco Demolition Night, to the father/son team that attacked Tom Gamboa, I always look at supporting the Sox as a kind of chancy situation. It is always a seventies situation there — like an airshow or a motorcycle stunt — where there is a good chance you are going to get wowed, a high likelihood you are going to get sunburned, a slight chance you are going to witness or fall prey to something dangerous and/or criminal, and a surprisingly high incidence of the curtain between the event and the audience being penetrated and/or blurred.



They are the Action Park of baseball franchises. I imagine they set their price points to attract unsupervised teenagers who can't afford Cubs tickets.



Also, they have a really odd but pure roster of celebrity fans — President Obama, Pope Leo, Chance the Rapper, Snoop Dog, Mr. T, Jordan, and pretty much anyone else who has starred for the Bulls.

[ashie62]

I'm sure there will be a sketchy proposal for a largely public funded domed South Side Stadium at some point

[Bob Alpacadaca]

I'm sure there will be a sketchy proposal for a largely public funded domed South Side Stadium at some point

https://www.mlb.com/news/white-sox-proposed-ballpark-updatehttps://www.mlb.com/news/white-sox-proposed-ballpark-update



Not a dome, but a new park.

They are the Action Park of baseball franchises.

This is brilliant.

[kcmets]

Johnny Lunchbucket wrote: 1959 Comiskey Park AM/FM radio

That looks pretty cool, there's pre-sale listings on eBay already.

[Centerfield]

And of course Jerry Reinsdorf was also the real bad guy in the breaking up of the Chicago Bulls dynasty, though he masterfully allowed Jerry Krause to take the fall.



I kinda get why Fred and Jeff wanted to hold onto the franchise for 5 years. I think they always thought they were a year away from holding the trophy. The White Sox are a mess and Reinsdorf has no interest in investing in their success. Why would you want to hold onto a franchise that you are tanking.

[MFS62]

Johnny Lunchbucket wrote: 1959 Comiskey Park AM/FM radio That looks pretty cool, there's pre-sale listings on eBay already.

Really cool. Reminds me of the days when you listened to games without headphones, and you had to turn the radio to get better reception.

Later

[batmagadanleadoff]

Johnny Lunchbucket wrote: White Sox have a lot of cool gate giveaways this year as they celebrate their 125th anniversary Richie Allen Sports Illustrated cover bobblehead (the one where he's juggling)

Cool. Juggling and smoking.





[FIMG=555]https://images.fineartamerica.com/images/artworkimages/mediumlarge/2/chicago-white-sox-dick-allen-june-12-1972-sports-illustrated-cover.jpg[/FIMG]

[Johnny Lunchbucket]

This giveaway happened already. According to the internet, the bobble came without a cigarette but reps quietly handed out little plastic cigs for those who wanted them.

[Frayed Knot]

His smoking technique looks a bit better than his juggling. I'm betting that those balls didn't stay airborne for much longer than it took to snap the photo.





The stadium -- 'New Comiskey' or about three or four corporate names since -- represents another oddity in ChiSox history.

The last ML stadium built prior to Camden Yards, it wound up being stuck in an area that was neither modern/new nor retro/old.

The story was that they were offered a design by the folks who later built Camden but Reinsdorf wasn't interested.

[Edgy MD]

The stadium then known as US Cellular Field was featured on the back glass of Gottlieb's outstanding Big Hurt pinball machine.



[FIMG=500]https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Felitehomegamerooms.com%2Fwp-content%2Fuploads%2F2019%2F05%2FBig-Hurt-Pinball-Caver-New-600x600.jpg&f=1&nofb=1&ipt=648e98b5e4494a23f13884abb78371485e8bdabea6112e51ef458c8d2088c88e[/FIMG]

[Johnny Lunchbucket]

Gottlieb didn't make many outstanding machines. Is it really good?

[Edgy MD]

Hours of fun.



I mean, it delighted me more as a baseball fan than as a pinball fan. It was no Creature Feature, but I give it 3 1/2-to-4 stars.

[Frayed Knot]

Can it get more pathetic?