Justin Ishbia Strikes Deal for Chicago White Sox Control
Justin Ishbia has reached an agreement that may give him control of the Chicago White Sox as soon as 2029, team owner Jerry Reinsdorf confirmed to Sportico.
The agreement allows Reinsdorf, 89, to control the team for at least four more years. After 2034, Ishbia would have the right to buy the control stake. Ishbia and his brother Mat initially bought a mid-single-digit percentage of the team in 2021, and they have added to the total since then.
Advertisement
More from Sportico.com
'This is an investment in the future of the Chicago White Sox, and I am excited for the opportunity to deepen my commitment to the city and the team,' Justin said in a statement to Sportico. Reinsdorf, in a phone call, declined to provide any other details.
The White Sox issued a statement after Sportico broke the news, which said that all limited partners would have the opportunity to sell to Ishbia in any further transaction. It also said that Justin's brother, Mat, and father, Jeff, will also be 'significant' investors. 'In no event will such a transaction take place before 2029,' according to the statement.
Ishbia will make capital infusions into the White Sox as a limited partner in 2025 and 2026 that will be used to pay down debt and support ongoing team operations.
Advertisement
The bulk of the Ishbias' money comes from Michigan-based United Wholesale Mortgage, now UWM Holdings, which was founded by Jeff. Mat, who now runs the company and is worth about $7.3 billion, owns a 71% stake in UWM; Justin, worth about $4.3 billion, owns 22%, according to Forbes. Justin is also the founder and managing partner of Shore Capital Partners, a private equity firm based in downtown Chicago with $12.5 billion under management.
The brothers have built a sizable pro sports portfolio in the last few years. They bought the NBA's Phoenix Suns and the WNBA's Phoenix Mercury in 2023 at a $4 billion valuation; Mat is the primary governor of the NBA and WNBA franchise, with Justin serving as alternate governor. Additionally, they bought a stake in MLS club Nashville SC; Justin is also the alternate governor of the MLS team.
Last year, the White Sox set a new mark for the most losses in a season in MLB's modern era with a record of 41-121. The current season is not much better, with the team at 19-43 through almost 40% of the season.
Reinsdorf is the second-longest tenured owner in baseball after the Steinbrenner family who owns the New York Yankees. In 1981, he led a group that paid $20 million for the White Sox. In March, Sportico valued the team at $2.03 billion.
Advertisement
BDT & MSD Partners served as the exclusive financial advisor to the White Sox and Reinsdorf family. Katten Munchin Rosenman LLP was the team's legal advisor. Covington & Burling was Ishbia's legal advisor.
(This story has been updated throughout with additional details.)
Best of Sportico.com
Sign up for Sportico's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time Business News
an hour ago
- Time Business News
Why You Should Buy Pet Food Online for Convenience & Savings
If you're a pet owner, you know how important it is to ensure your furry companion receives the best nutrition possible. But with busy lifestyles, running to a pet store every time your dog's food runs low can be stressful. That's where the option to buy pet food online comes in. From doorstep delivery to wider selections and better deals, online shopping for pet food is not only convenient but also smart. Over the past few years, online pet supply platforms have surged in popularity. Pet parents are turning to digital stores for a variety of reasons: Easy access to top-quality brands Scheduled deliveries and subscriptions Reviews and ratings to guide purchases Promotions and discounts not found in physical stores Whether you have a dog, cat, rabbit, or bird, there's something online for every pet's dietary needs. You no longer have to worry about traffic or carrying heavy bags from the store. With a few clicks, your pet's food can be delivered right to your doorstep—on time, every time. Online platforms often offer more variety than brick-and-mortar stores, including: Premium and prescription diets Grain-free, hypoallergenic, or organic options Breed-specific or age-specific formulas Most online stores offer auto-ship options so your pet never runs out of food. You can set weekly or monthly deliveries and pause or modify them as needed. From seasonal promotions to new customer offers, online platforms offer competitive pricing. You can often find bundles or bulk options for additional savings. Compare different brands, read ingredient lists, and check reviews—all from the comfort of your home. This helps you make a more informed decision tailored to your pet's needs. Some popular and reliable platforms include: Amazon Pet Supplies Chewy (US-based) Petsy, Heads Up for Tails, and Supertails (India) Pet Circle (Australia) Zooplus (Europe) Many local pet stores also have online ordering options with same-day or next-day delivery. To ensure you're getting the best for your pet, consider the following: Factor Why It Matters Brand Reputation Trusted brands ensure safety and nutritional balance Expiry Dates Always check expiration for freshness Ingredient List Know what your pet is consuming—avoid fillers or additives Return Policy Make sure the store has an easy return or refund process Customer Reviews Real feedback helps assess quality and delivery reliability Each pet is unique, and their food should be too. Keep in mind: Age : Puppies/kittens need food rich in protein and fat for growth. : Puppies/kittens need food rich in protein and fat for growth. Breed Size : Large and small breeds have different dietary needs. : Large and small breeds have different dietary needs. Health Conditions : Some pets may require low-fat, grain-free, or renal-support food. : Some pets may require low-fat, grain-free, or renal-support food. Activity Level: More active pets may require higher calories and protein. When in doubt, consult a veterinarian before switching diets or trying a new product. Ordering Without Checking Expiry Always ensure the product has a long shelf life remaining. Choosing Price Over Quality While it's tempting to go for cheaper options, your pet's health depends on quality nutrition. Skipping Reviews User reviews often provide insights into digestion, taste preferences, or delivery reliability. Not Verifying the Seller Always purchase from authorized retailers or the brand's official store to avoid counterfeit products. Start with small packages to see how your pet reacts. Create an account for quicker repeat orders. Opt for platforms offering secure payments and good customer service. Join loyalty programs for exclusive discounts and reward points. The industry is rapidly evolving with options like: Personalized pet food based on your pet's DNA or breed based on your pet's DNA or breed Eco-friendly packaging Organic and preservative-free formulas Subscription-based home delivery boxes These innovations are reshaping how pet parents shop and care for their animals. Choosing to buy pet food online is more than just a modern convenience—it's a smart decision for busy, responsible pet parents. With 24/7 access to trusted products, easier price comparisons, and reliable delivery, online shopping ensures your pet never has to skip a meal. Just remember to choose quality over price, read reviews, and consult your vet for the best results. After all, your pet deserves the best, delivered straight to your door. TIME BUSINESS NEWS
CNBC
an hour ago
- CNBC
Why a pacifist Japan seems to be doubling down on arms exports
Japan, renowned for its pacifist constitution, is now setting its sights on the global arms exports market. Defense Minister Gen Nakatani earlier this month told Nikkei that he wanted to promote Japan's defense exports, signaling a clear shift in the country's arms policy, which has so far been largely restricted to catering to the Japan Self-Defense Forces, or JSDF. Prime Minister Shigeru Ishiba has also signaled sharper focus on the defense sector and became the first sitting prime minister to attend DSEI Japan, the country's largest defense exhibition. While the shift in stance comes at a time when global defense spending has been on the rise, Japan's motivations are linked more to its security concerns than profiting from the surge in global arms demand, experts told CNBC. The biggest reason behind this shift is to deepen ties and increase interoperability of Japanese forces with allies and partners, said Rintaro Inoue, research associate at the Institute of Geoeconomics, a Tokyo-based think tank. By exporting its arms abroad, a country is able to improve interoperability with the purchasing parties by standardizing maintenance processes for hardware and creating joint training opportunities. "This rationale has been the main pillar after Prime Minister [Shinzo] Abe created the concept of 'proactive contribution to peace' in 2013 which aims to deepen cooperation with other Western countries in this area, and especially in security fields," he said. When the late Abe was in office, he led efforts to revise the interpretation of Article 9 of Japan's constitution to allow the JSDF to more actively contribute to international peacekeeping efforts and defend allies. Japan also wants to develop its defense industrial base, which had been in "very poor conditions" before the country moved to increase its defense budget in 2022, Inoue said. Exports will allow it to achieve the economies of scale needed to make domestic production more viable. Instead of investing in Japan's domestic defense base, the country has largely purchased weapons from the U.S., such as the F-35 fighter jets and SPY-7 radar systems. "This created a severe situation among the defense industry based in Japan, and several companies have left the industry, especially in the supply chain," Inoue said. In 2023, more than 100 companies were reported to have left the defense industry in the past 20 years. Naoko Aoki, political scientist at U.S.-based policy think tank RAND, said that Japanese defense firms have traditionally operated with limited domestic demand from the JSDF. Being able to export defense items means that companies would have a bigger customer base, helping them develop production capacities, lower costs and have more flexibility. "Even if the JSDF needed more of, for example munitions, these companies would not be eager to invest in new facilities to produce more of them, if they think that is a one-time request. If there were more stable demand at a higher level, however, they can justify the investment," Aoki said. As of 2024, Japan's arms exports stood at 21 million TIV — just 0.1% of global arms exports — according to the Stockholm International Peace Research Institute. The TIV or trend-indicator value is a measure of the volume of international transfers of major conventional weapons. In comparison, neighboring South Korea exported 936 million TIV in 2024, with 3.3% of global arms exports, while TIV for China, the largest Asian arms exporter from 2020-2024 stood at 1.13 billion, accounting for 3.9% of global shipments. Defense is attractive as a growth sector, according to veteran investor David Roche, strategist at Quantum Strategy. "Demand will exceed supply for a decade,he said. So, building domestic capacity is of paramount importance. Roche said that if nations such as Japan stay dependent on the U.S., the Trump administration's more transactional approach will oblige them to pay for much more of their own defense, or defense equipment supplied by the pointed to U.S. Defense Secretary Pete Hegseth's speech during the 2025 Shangri-La Dialogue, earlier this month: "We ask — and indeed, we insist — that our allies and partners do their part on defense ... NATO members are pledging to spend 5% of their GDP on defense, even Germany." "So it doesn't make sense for countries in Europe to do that while key allies in Asia spend less on defense in the face of an even more formidable threat, not to mention North Korea," Hegseth added. "If they distrust the U.S. to honor its treaty engagements, then individual nations must ensure their own security and spend a lot of money doing so," Roche said. Japan in 1967 adopted "Three Principles on Arms Exports" that restricted arms exports, and later expanded those principles to a practically impose an across-the-board ban on arms exports, except for transfers of military technologies to the U.S. The country relaxed this stance under Abe, with former Prime Minister Fumio Kishida easing the curbs further in 2023. The most recent changes allow defense equipment manufactured in Japan under license from foreign defense firms, including finished products, to be exported to the licensing country and from there to third countries. For example, Japan agreed in late 2023 to manufacture — under license — and export Patriot interceptor missiles to the U.S., whose stockpiles were depleted after supplying these missiles to Ukraine. Neighbor South Korea has seen increasing global interest in its arms industry and is striving to become a major global arms supplier. Will Japan be able to compete? Experts says that Japan has the knowledge, skills and technology to be a major arms supplier, but IOG's Inoue warns that Japan may face manufacturing issues due to its falling population and growing proportion of seniors. "I think it's very difficult for Japan to once again focus into manufacturing jobs," he said. RAND's Aoki pointed to still-strict regulations. "Japan has the technical capacity to do many things," but as export regulations remain severe, it will use exports mainly as a tool to strengthen its defense industrial base and defense relations with like-minded countries, particularly the U.S.
Yahoo
an hour ago
- Yahoo
Michigan State Spartans Impress 3-Star Defensive Lineman Nehemiah Kolone
Michigan State Spartans Impress 3-Star Defensive Lineman Nehemiah Kolone originally appeared on Athlon Sports. The Michigan State Spartans hosted a 3-star defensive lineman Nehemiah Kolone for a visit on June 6 and the Stillwater, Okla. had nothing but good things to say about East Lansing. Michigan State Spartans' defensive line coach Legi King/Lansing State Journal/USA TODAY NETWORK via Imagn Images In fact, he canceled his visit with Kansas following his time with the Spartans. Still on his list, BYU is the last school he has scheduled to see. Advertisement Out of his nine offers, Michigan State is within reach of landing the defensive lineman. By the end of June, Kolone hopes to reach a decision between the Spartans, BYU, and Oklahoma State. Kolone is ranked No. 863 overall, according to 247Sports Composite. He's listed as the No. 18 prospect out of Oklahoma and the No. 90 defensive lineman overall. Out of the 12 commits from the class of 2026, the offense is crowding up the most. Kayd Coffman, Joey Caudill, Eddie Whiting, Eli Bickel, Cory House, Collin Campbell, Quinn Buckey, and Braylon Hodge make up the eight recruits on the offensive side of the ball. Defensive tackle Chris Knauls, safeties Eliyjah Caldwell-Hardy and Brayden Thomas, and cornerback K.J. Deriso are the only defensive players to commit so far. Advertisement The Spartans have also extended another offer to a cornerback out of Florida. In the 2024 season, the Spartans' defense was 15th in the Big Ten for average points allowed (26.1) and 10th in their conference for yards allowed per game (332). If head coach Jonathan Smith can land a few more defensemen out of the class of 2026, the near and far future of Michigan State could start an upwards trend. This story was originally reported by Athlon Sports on Jun 13, 2025, where it first appeared.
