Investor halts pursuit of Twins, looks to raise minority share in White Sox
MESA, Ariz. -- Justin Ishbia is retreating from his pursuit to own the Twins and has designs on purchasing a larger minority share of the White Sox. While some view the move, reported by The Athletic, as potentially raising his chances of ownership in the future, Ishbia’s tender offer has no impact on control or operation of the team, the Sox say.The Pohlad family which owns the Twins hoped to have a buyer by Opening Day, believed to be Ishbia, 47, who founded a private equity firm in Chicago and has a home in Winnetka, as the controlling partner. Ishbia and his brother Mat own the Phoenix Suns of the NBA and Phoenix Mercury of the WNBA, of which Mat is the controlling partner.Justin Ishbia purchased a small share of the Sox in 2021, and a purchase of more interest would enhance his stake in the franchise. His deep pockets and love of baseball present a profile as a more than suitable future owner, but Jerry Reinsdorf, 89, who has been the Sox’ majority owner and controlling partner since 1981, will have controlling interest regardless of how much or little of the limited partnership he owns.Ishbia has an estimated worth of $5.1 billion, according to Forbes. His brother Mat’s estimated worth is $9.4 billion. The Reinsdorf family reportedly approached Justin about enhancing his ownership of the Sox when it became known he was interested in buying the Twins.Reinsdorf, who is trying to get a new stadium built for the Sox, has been saying his family should sell the Sox after his passing.Through Sox vice-president of communications Scott Reifert, Reinsdorf made clear Saturday that limited partnerships have nothing to do with the operation of the Sox.“Similar to an opportunity in 2021, White Sox limited partners have received an offer from a third party to purchase their shares in the team, providing liquidity for the limited partners on their long-term investment in the club,” Reifert said. “This offer to limited partners has no impact on the leadership or operations of the Chicago White Sox and does not provide a path to control.”The Sox are worth $2.05 billion according to a Forbes valuation in 2024.Berroa exits with sore elbowIt took one Cactus League game for the Sox to endure an injury. Right-hander Prelander Berroa, who was targeted for a role in the bullpen, exited the Sox' 7-3 loss to the Cubs with right elbow discomfort.Berrora was slated to have an MRI done Saturday night. He faced five batters, recorded one out and gave up three hits including a home run to Ben Cowles.Berroa posted a 3.32 ERA with 26 strikeouts in 19 1/3 innings last season.ContractsThe Sox agreed to terms with all 30 pre-arbitration eligible 40-man roster players. The highest three salaries, excluding Tyler Gilber coming off a non-roster addition with Diamondbacks): Jared Shuster $772,350 Korey Lee $771,000 Miguel Vargas $770,400.Former Sox All-Star pitcher Eddie Fishes diesEddie Fisher, a right-hander whose 15-year major league career included an All-Star selection for the Sox and a World Series title with Baltimore, died after a brief illness. He was 88.Born in Shreveport, Louisiana, Fisher made his big league debut in 1959 for the San Francisco Giants. He later played for the White Sox from 1962-66 and Orioles, as well as Cleveland, California and St. Louis.
MESA, Ariz. -- Justin Ishbia is retreating from his pursuit to own the Twins and has designs on purchasing a larger minority share of the White Sox. While some view the move, reported by The Athletic, as potentially raising his chances of ownership in the future, Ishbia’s tender offer has no impact on control or operation of the team, the Sox say.
The Pohlad family which owns the Twins hoped to have a buyer by Opening Day, believed to be Ishbia, 47, who founded a private equity firm in Chicago and has a home in Winnetka, as the controlling partner. Ishbia and his brother Mat own the Phoenix Suns of the NBA and Phoenix Mercury of the WNBA, of which Mat is the controlling partner.
Justin Ishbia purchased a small share of the Sox in 2021, and a purchase of more interest would enhance his stake in the franchise. His deep pockets and love of baseball present a profile as a more than suitable future owner, but Jerry Reinsdorf, 89, who has been the Sox’ majority owner and controlling partner since 1981, will have controlling interest regardless of how much or little of the limited partnership he owns.
Ishbia has an estimated worth of $5.1 billion, according to Forbes. His brother Mat’s estimated worth is $9.4 billion. The Reinsdorf family reportedly approached Justin about enhancing his ownership of the Sox when it became known he was interested in buying the Twins.
Reinsdorf, who is trying to get a new stadium built for the Sox, has been saying his family should sell the Sox after his passing.
Through Sox vice-president of communications Scott Reifert, Reinsdorf made clear Saturday that limited partnerships have nothing to do with the operation of the Sox.
“Similar to an opportunity in 2021, White Sox limited partners have received an offer from a third party to purchase their shares in the team, providing liquidity for the limited partners on their long-term investment in the club,” Reifert said. “This offer to limited partners has no impact on the leadership or operations of the Chicago White Sox and does not provide a path to control.”
The Sox are worth $2.05 billion according to a Forbes valuation in 2024.
Berroa exits with sore elbow
It took one Cactus League game for the Sox to endure an injury. Right-hander Prelander Berroa, who was targeted for a role in the bullpen, exited the Sox' 7-3 loss to the Cubs with right elbow discomfort.
Berrora was slated to have an MRI done Saturday night. He faced five batters, recorded one out and gave up three hits including a home run to Ben Cowles.
Berroa posted a 3.32 ERA with 26 strikeouts in 19 1/3 innings last season.
Contracts
The Sox agreed to terms with all 30 pre-arbitration eligible 40-man roster players. The highest three salaries, excluding Tyler Gilber coming off a non-roster addition with Diamondbacks): Jared Shuster $772,350 Korey Lee $771,000 Miguel Vargas $770,400.
Former Sox All-Star pitcher Eddie Fishes dies
Eddie Fisher, a right-hander whose 15-year major league career included an All-Star selection for the Sox and a World Series title with Baltimore, died after a brief illness. He was 88.
Born in Shreveport, Louisiana, Fisher made his big league debut in 1959 for the San Francisco Giants. He later played for the White Sox from 1962-66 and Orioles, as well as Cleveland, California and St. Louis.
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