Justin Ishbia in agreement to potentially take over as owner of Chicago White Sox — but not for several years yet
Justin Ishbia, founder and managing partner of private equity firm Shore Capital Partners, has struck a deal to potentially purchase the Chicago White Sox.
Justin Ishbia
This Ishbia owns a 22% stake in United Wholesale Mortgage (UWM), a company his father founded that’s now the nation’s top overall mortgage lender, and of which his younger brother, Mat, is now chairman, president, and CEO. Justin Ishbia owns minority stakes in the Phoenix Suns (NBA) and Phoenix Mercury (WNBA), while Mat Ishbia owns majority stakes in those teams.
In addition, Justin Ishbia — whose net worth Forbes estimates at around $5.1 billion — owns a minority stake in Nashville SC, Tennessee's Major League Soccer team.
Justin Ishbia has now entered into an agreement to potentially acquire a controlling stake in the Chicago White Sox (MLB), with current owner Jerry Reinsdorf having the option to sell his stake to Ishbia no earlier than 2029, according to The New York Times.
In a report from Reuters, Ishbia provided some context for the would-be ownership investment, stating, "I love Chicago, have always loved baseball, and am thrilled to marry two of my passions."
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This isn’t the Ishbia brothers’ first overture toward MLB. Late last year, they expressed interest in buying the Minnesota Twins from the Pohlad family, who have owned the team for more than 40 years but have announced their intention to sell the franchise.
That interest apparently fizzled out earlier this year, but “it was during [Justin] Ishbia’s pursuit of the Twins that the Reinsdorfs came to him and discussed increasing his share of the White Sox,” The Times reported, citing an unnamed source close to the matter.
According to a press release the team has now issued, Justin Ishbia “will make capital infusions into the White Sox as a limited partner in 2025 and 2026 that will be used to pay down existing debt and support ongoing team operations.”
Under the Jerry Reinsdorf-Justin Ishbia agreement, “from 2029-2033, Reinsdorf will have the option to sell the controlling interest to Ishbia. After the 2034 season, Ishbia will have the option to acquire the controlling interest.”
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