Chicago White Sox owner-in-waiting Justin Ishbia says the team is “definitely” going to build a new ballpark.
The private equity mogul — worth $5.8 billion,per Forbes — is poised to take over the franchise from Jerry Reinsdorf by 2034, but the deeds could be exchanged as early as 2029.
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Rate Field opened in 1991 and has fallen behind its rivalsCredit: Getty
Ishbia may not have control of the White Sox yet, but is making moves that appear to suggest he is laying the groundwork.
His firm Shore Capital Partners is buying a 47-acre Amtrak rail yard in the South Loop, which lies across the Chicago River from the “The 78” development where the new Chicago Fire stadium is being built.
“Shore Capital Partners is under contract to acquire the Amtrak rail yard and has begun early planning for a mixed-use development on the site,” a spokesperson told The Athletic. “As part of the vision for the district, Shore is exploring with Northwestern Medicine a potential healthcare facility and medical innovation hub.”
The Fire have broken ground on their own project and were believed to have forced the Sox to look elsewhere.
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Owner Joe Mansueto agreed to fund the 22,000-seat stadium out of his own pockets.
Jerry Reinsdorf, meanwhile, was asking for public funds again having also had help building Rate Field on the South Side.
The MLB outfit think the 62-acre site has enough room for both franchises.
“Our White Sox focus has been and continues to be solely on the potential of a new ballpark at The 78,” a White Sox spokesperson said.
In a 2024 season that saw the Sox drop a record 121 losses, the team created a makeshift diamond on The 78 to help attract investors.
A move to Nashville was also touted, but Ishbia has ruled that out.
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The Sox want to build a brand new facilityCredit: Getty
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Justin Ishbia (left) and his brother Mat own the Phoenix SunsCredit: Getty
“I love Chicago,” Ishbia said. “Put it this way: If I wanted to have a team that was not in my hometown, I probably , right? If I wanted to commute, I could’ve just commuted to Minnesota.”
The Sox have four more years left on their stadium lease and while Ishbia is helping to pay off debts and cover costs, he has no say at the moment.
“Jerry’s the chairman, Jerry has 100 percent control of what happens with the White Sox,” he told The Athletic in June. “And so, anything about the stadium, you should ask Jerry.
“But I’ll say this: I’m 48, right? And the White Sox lease is up in four years. I can’t tell you exactly when, but in my lifetime, we’re definitely building a new stadium.
“Whether it’s four years from now or 34 years from now, I can’t tell you when exactly this moment, but we will build a new stadium while I am the steward of the franchise.”
If The 78 is a no-go, another state could be in play.
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Hammond in Northwest Indiana is trying to lure the Chicago Bears out of Illinois.
If that move fails, the welcome mat could be rolled out for the Sox.
A plot has already been picked out along Wolf Lake — a short drive from downtown Chicago.
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