30 Percent Of The Chicago White Sox Have Allegedly Been Sold To A Mystery Buyer For An Insane Amount Of Money
The Chicago White Sox reportedly have a new mystery owner.
According to a source with ties close to the club, the Sox have sold 30% of the team to a billionaire with ties to the city of Chicago. The White Sox currently have a complex ownership structure, where the team has many investors but have been controlled by Jerry Reinsdorf through a general partner corporate entity since 1981.
Reinsdorf has also been the owner of the Chicago Bulls since 1985.
The source wanted to remain anonymous, but says that the new White Sox owner may have something to do with the “Star Wars” series. We cannot confirm that George Lucas is involved with this sale, but it’s worth noting that his wife, Mellody Hobson, is the co-CEO of Ariel Investments, which is based in Chicago.
George Lucas has never been tied to the MLB (to our knowledge) so the sudden move to own a baseball franchise would be a little peculiar. But maybe the sudden opportunity was too big to pass up.
Back in March, it was reported by Crain’s Chicago that Jerry Reinsdorf’s sons, Michael and Jonathan, were actively trying to purchase shares of the White Sox.
“Over the years, several limited partners have sought to sell their White Sox partnership interests, and in many cases, they have been able to sell to other partners,” Reinsdorf wrote in the letter, obtained by Crain’s. “These sales have been infrequent. Recently, I have become aware that additional partners are seeking liquidity because of the death of partners or to accomplish various estate planning goals. My adult sons, Michael and Jonathan, are part of a small, but well-funded and credible, investment group that wishes to purchase White Sox limited partnership interests.”
Trending from Side Action
It’s not clear if this reported deal is separate from that, or if this is all tied together. However, our source did say that the team’s new mystery owner could have interest in purchasing more stake in the team once Jerry Reinsdorf eventually passes away.
While we cannot confirm or deny any of this, it’s starting to look like the Reinsdorf family might be backing off the Chicago White Sox after many years in control.
Subscribe on YouTube!