In a surprising turn of events, Chicago billionaire Justin Ishbia has dropped his pursuit of purchasing the Minnesota Twins and will instead increase his minority stake in the Chicago White Sox, according to The Athletic. This shift comes as a major blow to the Twins’ ongoing efforts to find a new owner, as Ishbia had emerged as a leading contender to acquire the franchise from the Pohlad family, who have owned the team for four decades.
Instead of taking over the Twins, Ishbia will buy additional shares from other limited partners of the White Sox, increasing his stake in the franchise he has been a part of since 2021. While speculation has already begun about whether this move could lead to him eventually taking control of the team from longtime owner Jerry Reinsdorf, White Sox officials have denied that notion.
White Sox vice president of communications Scott Reifert issued a statement to clarify the situation.
“Similar to an opportunity in 2021, White Sox limited partners have received an offer from a third party to purchase their shares in the team, providing liquidity for the limited partners on their long-term investment in the club. This offer to limited partners has no impact on the leadership or operations of the Chicago White Sox and does not provide a path to control.”
Justin Ishbia will remain focused on the White Sox, not the Twins
Despite this, many believe Ishbia’s increased stake positions him as the likely successor to Reinsdorf, who has previously stated that his family should sell the team after his passing. Reinsdorf, who turns 89 next week, has been exploring options regarding the White Sox’s future, including potential sales and efforts to secure public funding for a new stadium in Chicago’s South Loop.
For the Twins organization, Ishbia’s withdrawal is a major setback. The team had been actively seeking a new owner since October 2023, with reports indicating that the goal was to finalize a sale by Opening Day 2025. Ishbia had reportedly been aggressive in his pursuit, holding meetings with Minnesota officials, community leaders, and potential minority owners in December to discuss his interest in purchasing the franchise.
The Twins were blindsided by Ishbia’s decision to remain with the White Sox. Many within the organization believed that a deal was close to being completed, making this unexpected shift all the more frustrating for both team officials and fans.
Twins fans, in particular, had high hopes that Ishbia’s deep pockets and competitive mindset—which he and his brother, Mat Ishbia, have demonstrated as owners of the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury—would bring much-needed change to an ownership group criticized for hesitancy to spend money.
With Ishbia out of the picture, the Twins are now back to square one, forced to resume their search for a new buyer. While there were reportedly multiple interested parties, Ishbia was seen as the frontrunner, and his decision to pivot to the White Sox leaves significant uncertainty about the timeline for a potential sale.
At the same time, White Sox fans are left wondering what Ishbia’s increased stake in the franchise means for their team’s future. Though Reinsdorf has not publicly committed to selling, his efforts to secure public funding for a new stadium and past statements about selling the team after his death suggest that ownership changes could be on the horizon. For now, the Twins must regroup, while Ishbia’s growing presence in Chicago raises questions about the long-term direction of the White Sox.
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