{"id":82385,"date":"2025-06-06T00:21:16","date_gmt":"2025-06-06T00:21:16","guid":{"rendered":"https:\/\/www.rawchili.com\/mlb\/82385\/"},"modified":"2025-06-06T00:21:16","modified_gmt":"2025-06-06T00:21:16","slug":"justin-ishbia-to-gain-control-over-time","status":"publish","type":"post","link":"https:\/\/www.rawchili.com\/mlb\/82385\/","title":{"rendered":"Justin Ishbia to Gain Control Over Time"},"content":{"rendered":"

\n\tJustin Ishbia<\/a> has reached an agreement that may give him control of the Chicago White Sox<\/a> as soon as 2029, team owner Jerry Reinsdorf confirmed to Sportico.<\/p>\n

\n\tThe agreement allows Reinsdorf, 89, to control the team for at least four more years. After 2034, Ishbia would have the right to buy the control stake. Ishbia and his brother Mat initially bought a mid-single-digit percentage<\/a> of the team in 2021, and they have added to the total since then.<\/p>\n

\n\t\u201cThis is an investment in the future of the Chicago White Sox, and I am excited for the opportunity to deepen my commitment to the city and the team,\u201d Justin said in a statement to Sportico. Reinsdorf, in a phone call, declined to provide any other details.<\/p>\n

\n\tThe White Sox issued a statement after Sportico broke the news, which said that all limited partners would have the opportunity to sell to Ishbia in any further transaction. It also said that Justin\u2019s brother, Mat, and father, Jeff, will also be \u201csignificant\u201d investors. \u201cIn no event will such a transaction take place before 2029,\u201d according to the statement.<\/p>\n

\n\tIshbia will make capital infusions into the White Sox as a limited partner in 2025 and 2026 that will be used to pay down debt and support ongoing team operations.<\/p>\n

\t\t\t\t\t\t\"\"<\/p>\n

\n\tThe bulk of the Ishbias\u2019 money comes from Michigan-based United Wholesale Mortgage, now UWM Holdings, which was founded by Jeff. Mat, who now runs the company and is worth about $7.3 billion, owns a 71% stake in UWM; Justin, worth about $4.3 billion, owns 22%, according to\u00a0Forbes. Justin is also the founder and managing partner of Shore Capital Partners, a private equity firm based in downtown Chicago with $12.5 billion under management.<\/p>\n

\n\tThe brothers have built a sizable pro sports portfolio in the last few years. They bought the NBA\u2019s Phoenix Suns and the WNBA\u2019s Phoenix Mercury in 2023 at a $4 billion valuation<\/a>; Mat is the primary governor of the NBA and WNBA franchise, with Justin serving as alternate governor. Additionally, they bought a stake in MLS club Nashville SC; Justin is also the alternate governor of the MLS team.<\/p>\n

\n\tLast year, the White Sox set a new mark for the most losses in a season in MLB\u2019s modern era with a record of 41-121. The current season is not much better, with the team at 19-43 through almost 40% of the season.<\/p>\n

\n\tReinsdorf is the second-longest tenured owner in baseball after the Steinbrenner family who owns the New York Yankees. In 1981, he led a group that paid $20 million for the White Sox. In March, Sportico valued the team<\/a> at $2.03 billion.<\/p>\n

\n\tBDT & MSD Partners served as the exclusive financial advisor to the White Sox and Reinsdorf family. Katten Munchin Rosenman LLP was the team\u2019s legal advisor. Covington & Burling was Ishbia\u2019s legal advisor.<\/p>\n

(This story has been updated throughout with additional details.)<\/p>\n","protected":false},"excerpt":{"rendered":"Justin Ishbia has reached an agreement that may give him control of the Chicago White Sox as soon…\n","protected":false},"author":2,"featured_media":82386,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[5,49,17183,4,3192],"class_list":{"0":"post-82385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mlb","8":"tag-baseball","9":"tag-chicago-white-sox","10":"tag-justin-ishbia","11":"tag-mlb","12":"tag-team-sale"},"share_on_mastodon":{"url":"https:\/\/channels.im\/@mlb\/114633564796483365","error":""},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/82385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/comments?post=82385"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/82385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media\/82386"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media?parent=82385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/categories?post=82385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/tags?post=82385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}