Billionaire Justin Ishabia and the owner of Chicago White Socx, Jerry Rinsdorf, have reached a long -term investment agreement that establishes a framework for Ishbia to achieve the future controlled interest in the franchise, the team announced on Thursday.
Ishabia, who founded a private equity firm in Chicago, is an investor in NBA’s Phoenix Sun and WNBA’s mercury, owned by his brother, mats.
According to the agreement, Justin Ishabia will create capital infections in white sox as a limited partner in 2025 and 2026. This will work to trim the existing loan and support the ongoing team operations.
The 89-year-old Rinsdorf will have an option to sell controlled interest between 2029–33, 47, 47. Ishabia already has a minority stake in the MLS Club Nashville SC with white sox.
In its 2024 evaluation of all 30 MLB of clubs, Forbes ranked white Sox at $ 2.05 billion in 15th position. Rinsdorf, who owns the NBA’s Chicago Bulls, bought White Sox in 1981 for $ 20 million.
“The incredible opportunity to be a life -changing experience of being a owner of Chicago White Sax and being a part of Major League Baseball for nearly 50 years has been a life -changing experience,” Rintorf said in a statement on Thursday. “I have always expressed my intention to operate white sox as long as I am competent and committed to return this franchise to the level of success that we all expect and wish.”
Forbes erected Justin Ishabia’s total assets for $ 5.1 billion in the real -time list of the world’s billionaires. Ishbia is the founder and managing partner of the noise capital partners, who, under management, have assets of $ 11.5 billion per Forbes. He is the owner of a 22 percent stake in the joint wholesale mortgage, which was established by his father in 1986 and managed by Matt Ishabia.
White Socks (19-43) is ranked last in the American League Central. He set an MLB record in loss with 121 in the previous season.
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