Why White Sox sale agreement is ‘strange'
Yahoo Sports senior MLB analysts Jordan Shusterman and Jake Mintz react to the team's announcement that Jerry Reinsdorf has agreed to sell a future controlling stake to billionaire Justin Ishbia. Hear the full conversation on the 'Baseball Bar-B-Cast' podcast - and subscribe on Apple Podcasts, Spotify or wherever you listen.
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Video Transcript
There is a big, big, big development in White Sox world.
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Jerry Reinsdorf, who has owned the White Sox for 45 years.
Hell yeah dude, has officially announced.
At least a path to no longer owning the White Sox.
So who's the lucky guy that's gonna be owning the White Sox after Jerry Reinsor?
His name is Justin Ipia.
Justin Ia, the brother of Matt Ishpia, who is the owner of the Phoenix Suns.
Justin also involved in that ownership group, but it seems like Justin really wanted to kind of do his own thing.
So with all that in mind, this is pretty massive news.
Now that the timing here is, is interesting, right?
So, the, the details are that from 2029 to 2033.
Reinsdorf can sell the team the majority like he has the option to.
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Uh, 2034, it flips and Justin I could just buy it.
He can just, if he wants to suddenly buy the White Sox and be in charge of the White Sox, he can do that.
But they make very clear, they say nothing is changing until 2029.
Like that is a big part of this announcement is they're saying nothing is changing until 2029 other than Justin HBO infusing a bunch of cash to cover debt and start, you know, slowly running team operations.
Here's the thing, Jake.
Yeah, Jerry Reinsdorf's 89 years old, respectfully.
You know, respectfully, 89 or.
Respectfully, he's you're saying what you're saying is respectful.
Yes, I am saying that respectfully, it is not a surprise that at age 89 Jerry Reinsdorf has finally decided we should probably come up with some sort of plan to to move on here.
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Uh, but it is also a weird thing to get massive news about because normally when we have a, all right, this owner that a lot of fans are tired of is selling the team, there's like a here we go, we did it.
But the fact that we do not know when this is going to happen over the next 6 or 7 years, and the fact that it could not happen until 2034 when like Hagan Smith is in his second year as a Dodger, it's like very kind of strange to process.
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