Chicago White Sox news: Experts say a sale of Jerry Reinsdorf could fetch $2 billion

CHICAGO (WLS) — The Chicago White Sox are once again embroiled in offseason rumors about the possibility of selling or relocating the baseball team.

It comes on the heels of a record-breaking season for losses by a major league team, in which the White Sox scored 121.

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New reports coming out of The Athletic this week suggest that owner Jerry Reinsdorf is open to selling the White Sox.

Reinsdorf bought his stake in the team in 1981 for $20 million. Experts now think a sale could raise more than $2 billion.

“You have to be careful with those public valuations because they are based on historical data and not necessarily on what’s happening in the market. But yes, I think it’s very realistic that there would be more than $2 billion on the table,” said Northwestern Sports Master’s Program Professor. Adam Grossman.

Reinsdorf has balked at the idea of ​​selling in the past, and lately his attention has turned to a new stadium for the White Sox.

The proposal includes an effort to obtain public funding from the state that will move the team to the South Loop.

Fans and the owners of the Southside Grandstand said Friday that the new stadium talks only make them more frustrated.

“Build the team! We don’t need a new stadium. We don’t need more money from the city. We need the team,” said Tribune owner Stephanie Ganal.

The White Sox declined to comment this week on the possibility of a sale or relocation, but there are interested ownership groups looking to buy the team and possibly move it to Nashville.

Former major leaguer Dave Stewart has reportedly been part of an interested group, but they did not return ABC7’s request for comment.

Another possible group is Music City Baseball, which denied it is in talks to buy the team, saying in a statement: “Music City Baseball’s focus remains solely on bringing Major League Baseball to Nashville through future expansion .”

The Nashville mayor’s office also denied having discussions with Reinsdorf about the team’s move, but the Nashville Chamber of Commerce said it would be a welcome sight for a city that is growing every year.

“Professional sports teams are a tee. When the Titans and Predators made their decision to come to Nashville, we were put on a very different list because it is an entertainment option,” said Ralph Schulz, president of the Nashville Chamber of Commerce.

Mayor Brandon Johnson also weighed in on the issue Friday, saying he hopes the team stays in Chicago.

“I have not spoken to him directly about his decision. As far as my feelings, regardless of what they are worth, the sports industry in general has an incredible economic impact and benefit to the neighborhood in which Guaranteed Rate exists. I hope that you know, we figure something out,” Johnson said.

So the debate isn’t going away anytime soon, and this will likely all come down to Reinsdorf’s efforts in Springfield to get financing for a new stadium.

But Governor JB Pritzker continues to pour cold water on that idea, and his office declined to comment this week on the possibility of the White Sox leaving Chicago.