Jerry Reinsdorf open to selling White Sox, and in talks with possible buyer, according to report
CHICAGO (CBS) -- After an historic losing season, White Sox owner Jerry Reinsdorf reportedly might be looking to sell the team.
According to The Athletic, Reinsdorf is open to selling the team, and is in active discussions with a group led by former major league pitcher and coach Dave Stewart. The Sox are coming off a season in which they set the modern day MLB record for losses, with a 41-121 record.
Reinsdorf, 88, was the leader of a group that purchased the White Sox for a now-meager $20 million in 1981. He has long been known as the principal owner of the White Sox and controls about 19% of the ballclub, per Forbes. The White Sox are now estimated to be worth $2.05 billion, according to Forbes.
Reinsdorf also owns the Chicago Bulls, and has long been said to be averse to selling his stake in either team. It's unclear what changed about potentially selling the White Sox.
There's been no comment from Reinsdorf on the potential sale of the club. He's indicated in the past that, upon his death, his family should sell the White Sox, but keep the Bulls, which his son Michael runs.
Stewart, 67, played in the majors for parts of 16 seasons, finishing in the top five of Cy Young voting four times. Stewart won three World Series titles in his career – with the Dodgers in 1981, the Athletics in 1989, and the Blue Jays in 1993 – and was the 1989 World Series MVP. He also had four consecutive 20-win seasons with the Athletics from 1987 to 1990.
In his post-playing career, Stewart has been an agent and served as the general manager of the Arizona Diamondbacks. He's also been part of groups that tried to buy the Miami Marlins and Oakland A's. More recently, he's been active with a group trying to land an expansion team in Nashville. Coincidentally, the White Sox under Reinsdorf have threatened to move to Nashville before, but it's unclear if a sale to Stewart would include moving the team out of Chicago.
Reinsdorf threatened to move the team to St. Petersburg, Florida, in the 1980s before state lawmakers approved $200 million in public funding to build what is now Guaranteed Rate Field before a midnight deadline. Then-Illinois House Speaker Mike Madigan actually stopped the clock in the Illinois State Capitol to avoid missing the deadline.
As a reminder, it was just last year when Reinsdorf said the following while introducing then-new White Sox general manager Chris Getz:
"Friends of mine have said, 'Why don't you sell? Why don't you get out?' My answer always has been, 'I like what I'm doing, as bad as it is, and what else would I do? I'm a boring guy. I don't play golf. I don't play bridge. And I want to make it better before I go.'"
This came, of course, before the record-breaking 2024 season.
Reinsdorf has also been pushing for a new stadium in Chicago with local taxpayer dollars involved in the bill. Reinsdorf is seeking to build a new ballpark in the South Loop in the undeveloped area known as "The 78," and is reportedly seeking $1 billion in public funds to help pay for construction.
Toward the end of the historically bad 2024 White Sox season, Reinsdorf issued the following statement:
"This year has been extremely painful for all, especially our fans. We did not arrive here overnight, and solutions won't happen overnight either. Going back to last year, we have made difficult decisions and changes. Those changes have continued this summer, and we look forward to naming a new manager with new energy this fall."
Under the ownership of Reinsdorf, the White Sox won the 2005 World Series, snapping a drought that traced back to the Black Sox scandal, but they have only made the playoffs seven times. Since that World Series, they've only played in three postseasons and haven't advanced a single round – winning only three playoff games in that time.