"White Sox Owner Considering Selling Franchise, According to Reports"
The Chicago White Sox are currently exploring options for a potential sale of the team, as reported by multiple sources. This comes after a disastrous 121-loss season, the worst in modern history.
According to the Chicago Sun-Times, chairman Jerry Reinsdorf is \"open\" to finding a buyer for the franchise. One group showing significant interest is being led by former MLB pitcher Dave Stewart.
A spokesperson for the club declined to comment on the possibility of a sale.
Reinsdorf, who reportedly holds a 19 percent stake in the White Sox, has been the team's primary owner since 1981 when he purchased the franchise for $20 million. Earlier this year, Forbes valued the White Sox at $2.05 billion.
Despite his ownership of the NBA's Chicago Bulls, Reinsdorf has no plans to sell that franchise.
The White Sox have expressed interest in replacing their current stadium on Chicago's South Side with a modern venue closer to downtown, near the Chicago River. The team is seeking $1 billion in public funding, according to Forbes.
The team's lease at Guaranteed Rate Field expires after the 2029 season.
If sold to Stewart's group, there is a possibility that the franchise could relocate from Chicago entirely. Stewart is leading a group that is vying for an expansion team in Nashville, Tennessee.
Stewart has connections to Reinsdorf's close friend, Tony La Russa. La Russa was the White Sox manager when Reinsdorf took over ownership in 1981 and was recently hired to return for the 2021 and 2022 seasons. He currently serves as a club adviser.
Following a roster overhaul, the White Sox finished the past season with a dismal 41-121 record, following a 61-101 record in 2023. Since their World Series win in 2005, the team has had 12 losing seasons out of 19 and has only made three playoff appearances, with a record of 3-8 in those postseason games.
