Justin Ishbia’s White Sox Stake Clouds Potential Stadium Move

The Sox have a future buyer, and possibly, a future stadium problem.

Jerry Reinsdorf has reached a long-term investment deal with Chicago billionaire Justin Ishbia that could eventually hand control of the White Sox to the Shore Capital managing partner, though not before 2029, Crain’s reported.

Ishbia acquired a limited partnership stake and will make capital infusions this year and next to pay down debt and support operations.

The agreement gives Reinsdorf, 89, the option to sell a controlling stake to Ishbia between 2029 and 2033. After 2034, Ishbia will have the right to buy the team outright.

Ishbia, who made his fortune through United Wholesale Mortgage and co-owns the NBA’s Phoenix Suns and MLS club Nashville SC (and who’s building the most expensive home in Chicagoland) would be joined by his brother Mat and father Jeff as significant investors. He called the deal an “investment in the future of the Chicago White Sox.”

The deal adds uncertainty to the White Sox’s already-complicated stadium saga.

The team has been exploring a potential move from Guaranteed Rate Field, where its lease runs through 2029, to Related Midwest’s South Loop megaproject, The 78. That proposal, floated last year, faced immediate backlash over its rumored $1 billion public funding ask.

This week, Related struck a deal with Chicago Fire FC owner Joe Mansueto to bring a $650 million stadium to the same site, reigniting speculation over whether the White Sox could still be part of the development.

The team said Tuesday it was still “considering” The 78 for a future ballpark, but 3rd Ward Alderman Pat Dowell told Crain’s the site was “too small for two stadiums.”

It’s unclear how Ishbia’s future control could reshape the stadium discussions. While his deep pockets might help reduce the need for public funding, his ties to Nashville — where he co-owns an MLS team and serves on Vanderbilt University’s board — could reignite relocation rumors if the South Loop bid stalls.

For now, the team remains under Reinsdorf’s control, and no transfer of ownership is guaranteed. But with the worst record in baseball and political appetite for stadium subsidies at a low, the Sox’s long-term future may depend as much on Ishbia’s next move as it does on the field.

— Judah Duke