Nashville White Sox? Jerry Reinsdorf to Sell Team, Raising Fears of Move
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Chicago White Sox fans have long heard rumors that owner Jerry Reinsdorf would move the team out of the Second City if he was not able to build a new stadium — with Nashville, Tennessee, as a supposedly likely destination. Reinsdorf in 2023 even met with Nashville's mayor, but would not reveal exactly why, only stoking the rumors further.
Reisdorf denied that the meeting was about a move of the White Sox, and the mayor, Freddie O'Connell, said through a spokesperson only that the meeting was "introductory in nature."
CHICAGO, ILLINOIS - MAY 01: Chairman Jerry Reinsdorf of the Chicago White Sox watches his team play against the Cleveland Indians at Guaranteed Rate Field on May 01, 2021 in Chicago, Illinois.
CHICAGO, ILLINOIS - MAY 01: Chairman Jerry Reinsdorf of the Chicago White Sox watches his team play against the Cleveland Indians at Guaranteed Rate Field on May 01, 2021 in Chicago, Illinois.On Thursday, Reinsdorf — who purchased the White Sox in 1981 for $20 million and has been the team's effective CEO ever since — agreed to sell the team to a private equity billionaire who is already minority owner of a Nashville pro sports franchise.
Under reported terms of the agreement, the 89-year-old Reinsdorf would not relinquish control of the White Sox until 2029 at the earliest. In the meantime, minority owner Justin Ishbia — co-owner with his brother Mat Ishbia of the NBA's Phoenix Suns and WNBA's Phoenix Mercury — will increase his investments in the storied South Side franchise, with the funds used to "pay down existing debt and support team operations," according to a CBS News report.
Statement from the Chicago White Sox: — Chicago White Sox (@whitesox) June 5, 2025
Ishbia, 47, has an estimated net worth of $4.3 billion, according to Forbes. He is the founder and managing partner of Shore Capital Partners, an investment firm that manages $11.5 billion in assets, Forbes reported.
The billionaire is also a minority owner of Nashville SC, a Major League Soccer club that started play as a United Soccer League team in 2018, joining the higher-level MLS in 2020.
Reinsdorf, whose Forbes-estimated net worth is $2.3 billion, has the option to sell his shares in the team to Ishbia, giving Ishbia full control of the club, anytime between 2029 and 2033, when Reinsdorf will be 97 years old.
After the 2034 MLB season, Ishbia may unilaterally decide whether to take control of the White Sox.
The White Sox' lease on its current stadium, Rate Field, expires in 2029, the same year that Reinsdorf, under the reported agreement, could transfer control to Ishbia.
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