In a significant development for Major League Basketball, billionaire investor Justin Ishbia has entered into a long-term investment agreement with current Chicago White Sox owner Jerry Reinsdorf. This arrangement sets the stage for Ishbia to potentially assume controlling interest in the franchise between 2029 and 2034. Until then, Ishbia will serve as a limited partner, injecting capital into the team in 2025 and 2026 to held reduce debt and support ongoing operations.
The agreement outlines that from 2029 to 2033, Reinsdorf will have the option to sell the controlling interest to Ishbia. If a deal isn’t completed within that window, Ishbia will then have the option to acquire the controlling interest after the 2034 season. It’s important to note that there’s no guarantee the transaction will occur, and no sale can take place before 2029.
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Justin Ishbia, 47, is the founder of Chicago-based Shore Capital Partners and hold minority stakes in the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury, teams majority owned by his brother, Mat Ishbia. He also has a minority interest in MLS club Nashville SC. Forbes estimates Ishbia’s net worth at $5.1 billion.
Reinsdorf, 89, has owned the White Sox since purchasing the team in 1981 for approximately $20 million. Under his ownership, the team won the World Series in 2005 but has struggled in recent years, including a record 121- loss season in 2024.
The potential transition to Ishbia’s ownership is seen by many fans as a hopeful change for the franchise, which has faced challenges both on and off the field. While Reinsdorf will continue to lead the team in the near term, the agreement provides a clear pathway for new leadership in the coming decade.
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