The White Sox announced Thursday that chairman and majority owner Jerry Reinsdorf and minority owner Justin Ishbia “have reached a long-term investment agreement that establishes a framework for Ishbia to obtain a future controlling interest in the White Sox.” Under the terms of the agreement, Ishbia will make “capital infusions” into the White Sox in 2025-26 that will pay down existing debt and “support ongoing team operations.”
There will be no immediate transfer of control — and none until at least 2029. The agreement gives Reinsdorf the option of selling his controlling interest to Ishbia at any point from 2029-33. After the 2034 season, Ishbia will have he option to acquire the controlling interest from Reinsdorf. If and when Ishbia does acquire the controlling stake, other minority owners will have the opportunity to sell to him as well. His brother, Mat Ishbia, the principal owner of the NBA’s Phoenix Suns, and father, Jeff Ishbia, will be “significant” investors under the new agreement, too.
More to come.
Read More Details
Finally We wish PressBee provided you with enough information of ( Jerry Reinsdorf, Justin Ishbia Reach Agreement For Ishbia To Obtain Future Majority Stake In White Sox )
Also on site :