White Sox owner in 'active discussions' to sell franchise

Reinsdorf, now 88 years old, is one of the more controversial owners in the sport. He bought the club in 1981 for about $20M and has since developed a reputation for being on the meddlesome side, leading to reports of tumult from within the organization. Reinsdorf only owns an estimated 19% stake in the club, according to Forbes, but is nonetheless the principal owner of the club.

The club has had some success during his tenure as owner, including winning the 2005 World Series, but the Sox are at a very low ebb right now. They didn’t make the playoffs from 2009 to 2019, finishing below .500 during the majority of that stretch. A new core seemed to emerge and helped them make the postseason in 2020 and 2021, but that quickly proved to be unsustainable. They dropped to .500 in 2022 and lost 101 games last year before things got even worse in 2024. They lost 121 games this year, setting a new record for losses in the modern era.

Amid that downward slide, plenty of changes have taken place. In August 2023, president Ken Williams and general manager Rick Hahn were fired after many years with the club. However, that shakeup was followed by the club promoting Chris Getz to general manager from within, seemingly not undertaking an extensive search for external candidates. Manager Pedro Grifol and some coaches were fired in August of 2024. Grady Sizemore took over as interim manager and it’s not yet clear who will be the club’s bench boss for 2025.

Those changes were arguable merited, but as the Sox were nearing their dishonorable place in history this year, Ghiroli and Ken Rosenthal put the franchise under the microscope in a lengthy piece for The Athletic last month. In it, various sources traced the club’s misfortunes to Reinsdorf. His slow embrace of analytics, his refusal to invest in amenities or player payroll and his insular loyalty were among the various complaints cited in the piece.

While many of the club’s fans have been clamoring for Reinsdorf to sell the club, it’s possible their wish is being granted in monkey-paw fashion, given who the buyer could be. Stewart is well-known in the baseball world for his playing career and also his post-playing ventures as a coach, executive, agent and stint as general manager of the Diamondbacks. In recent years, he has been involved with a group that has been trying to get an MLB franchise in Nashville, Tennessee. Stewart parted ways with Music City Baseball/the Nashville Stars but told Paul Skrbina of the Nashville Tennessean in May that he still had designs on getting a team to Nashville someday. Per Wednesday’s report from Ghiroli, he is now part of a group called Smoke34, a reference to his nickname and jersey number from his playing days. Ghiroli also mentions that Stewart and partner Lonnie Murray are trying to bring a National Women’s Soccer League team to Nashville.

Back in August 2023, Greg Hinz of Crain’s Chicago Business reported that the Sox were exploring relocating within Chicago but that moving to Nashville was also under consideration. 

“Ever since the article came out, I’ve been reading about I’ve been threatening to move to Nashville,” Reinsdorf said in response, per Scott Merkin of MLB.com. “That article didn’t come from me. But if we have six years left, we’ve got to decide what’s the future going to be? We’ll get to it, but I never threatened to move out. We haven’t even begun to have discussions with the Sports Authority, which we’ll have to do soon.”

In December, multiple sources (including Daryl Van Schouwen of the Chicago Sun-Times) reported that Reinsdorf met with Nashville mayor Freddie O’Connell.

There are still plenty of unknowns with this story and the next steps will require more details to come out. The talks between Reinsdorf and Stewart could in early/exploratory stages or they could be further along. It’s also possible that Stewart’s group is just one of several that Reinsdorf has spoken with or will eventually speak with. Speculatively speaking, it’s possible that Reinsdorf is using the threat of relocation to help get a new stadium built in Chicago. 

As covered previously at MLBTR, the Sox have discussed plans about a new stadium in Chicago’s South Loop on a parcel of land known as “The 78.” It’s not uncommon for owners of sports franchises to dangle the threat of relocation in an attempt to extract public money for real estate investments. The Sox, who have a lease at Guaranteed Rate Field through 2029, were reportedly looking to get a billion dollars in public money for their new stadium as of February.

Exploring a sale of the club also doesn’t mean it will ultimately come to pass. In recent years, teams like the Nationals and Angels announced plans to explore the possibility of selling, only to later pull back from those declarations. This situation appears to be somewhat different, in that some discussions have already taken place. Though as mentioned, it’s unclear how extensive those talks have been.

This is the second report this month of a club considering a sale. The Twins, divisional rival of the White Sox, are also on the block. The Pohlad family announced last week that they will explore the possibility of a sale. Reinsdorf is the second-longest active owner in Major League Baseball, trailing only the Steinbrenner family, which have owned the Yankees since 1973.