Chicago, IL – The Chicago White Sox have announced a long-term agreement that could see the Ishbia family, current owners of the NBA’s Phoenix Suns, take controlling interest in the franchise within the next decade—following the worst season in team history.
According to team officials, current owner Jerry Reinsdorf has reached a deal with billionaire Justin Ishbia allowing for a phased transition of ownership. Ishbia will begin contributing capital as a limited partner in 2025 and 2026. Between 2029 and 2033, Reinsdorf will have the option to sell the controlling interest, while Ishbia will hold the right to acquire full control after the 2034 season.
The move comes after the White Sox finished the 2024 season with a franchise-worst record of 41-121, raising questions about the future direction of the team. While no transaction is guaranteed and no change will occur before 2029, the agreement signals a major shift in ownership strategy and long-term planning.
The Ishbia family’s expanding sports portfolio already includes the Phoenix Suns and Phoenix Mercury, and they are expected to play a significant role in the White Sox organization should a transfer take place. Ishbia’s brother Mat and father Jeff are also named as investors in the deal.
Reinsdorf, 88, has owned the White Sox since 1981 and will remain the day-to-day decision-maker until any sale is finalized. “(I) remain committed to returning this franchise to the level of on-field success we all expect and desire,” Reinsdorf said in a statement Thursday.
The agreement lays the groundwork for a new era in White Sox history as the organization looks to rebuild from one of the most challenging seasons in franchise memory.
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