According to the report, Jerry Reinsdorf is open to selling the White Sox and is in talks with a potential buyer

CHICAGO (CBS) – After a historic losing season, White Sox owner Jerry Reinsdorf may reportedly look to sell the team.

According to The Athletic, Reinsdorf is open to selling the team and is in active discussions with a group led by former major league pitcher and coach Dave Stewart. The Sox are coming off a season in which they set the modern MLB record for losses with a losing record of 41-121.

The 88-year-old Reinsdorf was the leader of a group that bought the White Sox in 1981 for a now paltry $20 million. He has long been known as the primary owner of the White Sox, controlling about 19% of the ballclub, according to Forbes. According to Forbes, the White Sox are currently valued at $2.05 billion.

Reinsdorf also owns the Chicago Bulls and has long been rumored to be reluctant to sell his shares in either team. It’s unclear what has changed in the potential sale of the White Sox.

There was no comment from Reinsdorf on a possible sale of the club. He has suggested in the past that his family should sell the White Sox after his death but keep the Bulls, which his son Michael manages.

Stewart, 67, played 16 seasons in the majors and finished in the top five in Cy Young voting four times. Stewart won three World Series titles in his career – with the Dodgers in 1981, the Athletics in 1989 and the Blue Jays in 1993 – and was the 1989 World Series MVP. He also had four consecutive 20-win seasons with the track and field teams from 1987 to 1990.

In his post-playing career, Stewart worked as an agent and served as the Diamondbacks’ general manager. He was also part of groups that attempted to purchase the Marlins and A’s. More recently, he was active in a group trying to attract an expansion team in Nashville. Coincidentally, the White Sox have previously threatened to move to Nashville under Reinsdorf, but it is unclear whether a sale to Stewart would involve moving the team from Chicago.

As a reminder, just last year, Reinsdorf said the following when introducing then-new GM Chris Getz:

“Friends of mine said, ‘Why don’t you sell? Why don’t you go out?’ My answer was always, “I like what I do, and what else should I do?” I don’t play golf. “I want to do better before I go.”‘

Of course, this happened before the record-breaking 2024 season.

Reinsdorf is also pushing for a new stadium in Chicago, although the bill obviously takes up a lot of local tax money. Reinsdorf plans to build a new baseball stadium in the South Loop in the undeveloped area called “The 78” and is reportedly seeking $1 billion in public funding to finance the construction.

Towards the end of the historically poor 2024 White Sox season, Reinsdorf made the following statement:

“This year has been extremely painful for everyone, especially our fans. We didn’t get here overnight, and solutions won’t emerge overnight. Going back to last year, we made difficult decisions and changes. These changes have continued this summer, and we look forward to appointing a new, energized manager this fall.”

Under Reinsdorf’s leadership, the White Sox won the 2005 World Series, breaking a losing streak stemming from the Black Sox scandal, but they only made the playoffs seven times. Since that World Series, they have only played in three postseasons and have not advanced a single round – winning just three playoff games in that time.