“White Sox decline comment on reports” Reinsdorf “open” to sales team – NBC Chicago

A bombshell report says Chicago White Sox owner Jerry Reinsdorf is “open to selling” the team as his plan to build a new stadium in the city faces opposition.

According to The Athletic’s Brittany Ghiroli’s report, Reinsdorf is in “active discussions” with a group led by former MLB player Dave Stewart about a possible sale.

The White Sox declined NBC Chicago’s request for comment on the report, saying they “do not comment on rumors.”

Reinsdorf, 88, is pushing for government funding to make this easier Construction of a new baseball stadium in the South Loop as part of a development called “The 78.” The White Sox even went so far as to build a full diamond on the site, with scenic views of the Chicago skyline in the background.

The proposed ballpark could involve up to $1.1 billion in public funding. The site would also require tax increases to allow for infrastructure projects around the stadium, including a new CTA station and rerouting existing Metra tracks.

The team proposed funding the park by extending a hotel services tax that was used to pay deposits at Guaranteed Rate Field, the team’s current home.

The proposal met with significant opposition in Springfield Illinois Governor JB Pritzker describes himself as ‘really reserved’ to approve the issue.

“Unless it’s demonstrated that the investment will produce a long-term return to the taxpayer that we can justify in some way, I haven’t seen that happen yet,” Pritzker said earlier this year.

It is estimated that more than $50 million in bonds remain to be repaid for construction of the Guaranteed Rate Field, which opened in 1991. This ballpark was built through a public financing deal signed by former Governor Jim Thompson amid speculation that the team would move to Florida if it did not get a new stadium.

In August 2023, Crain’s Chicago Business reported that the White Sox were considering moving out of Guaranteed Rate Field and considering a move to Nashville as a possibility. This was followed by a meeting between Reinsdorf and Nashville Mayor Freddie O’Connell during last year’s winter meetings in November.

Nashville is one of the markets considered a potential candidate for an expansion franchise, with Stewart serving as part of a group pursuing a team. Stewart was also involved in the effort to purchase the city of Oakland’s share of the Oakland Coliseum in the years leading up to the Athletics’ announcement that they were leaving the city.

Any move or change in ownership would have to be approved by Major League Baseball. The league would likely prefer an expansion team in Nashville, with a potential $2 billion expansion fee going into league coffers.