Justin Ishbia, co-owner of the Phoenix Suns and Phoenix Mercury, has reached an agreement that could give him control of the Chicago White Sox as early as 2029. According to team owner Jerry Reinsdorf, the deal will allow Reinsdorf to maintain control of the team for at least four more years. After 2034, Ishbia would have the right to purchase the majority stake in the team.
The agreement was facilitated by BDT & MSD Partners and Katten Munchin Rosenman LLP, with Covington & Burling serving as Ishbia’s legal advisor. Reinsdorf declined to provide further details on the agreement.
Ishbia’s investment in the White Sox will come through his private equity firm Shore Capital Partners, which has $12.5 billion under management. The brothers have also acquired stakes in the NBA’s Phoenix Suns and MLS’s Nashville SC, with Mat Ishbia owning a majority stake in UWM Holdings and Justin Ishbia worth around $4.3 billion.
The White Sox, who set a record for most losses in an MLB season last year, are currently struggling, with a 19-43 record through almost 40% of the season. Reinsdorf, the second-longest tenured owner in baseball, has valued the team at $2.03 billion.
Source: https://www.sportico.com/business/team-sales/2025/chicago-white-sox-sale-ishbia-to-gain-control-over-time-1234855243