Justin Ishbia, founder of private equity firm Shore Capital Partners, has struck a long-term agreement to acquire a controlling stake in Major League Baseball’s Chicago White Sox. 

The deal – valued at approximately $1.8bn – positions Ishbia to become majority owner as early as 2029.

Under the agreement, Ishbia has already bought out a number of minority investors and will begin injecting capital into the team this year and next to help reduce debt and support operations. Although controlling ownership could be transferred as early as 2029, Ishbia will have the right to acquire Jerry Reinsdorf’s majority stake if no sale is finalised by the end of the 2034 season.

Ishbia first took a minority stake in the White Sox in 2021 and had previously considered acquiring the Minnesota Twins. With this latest deal, he has opted to deepen his investment in the Chicago franchise instead. If completed, the deal would also bring his brother, Mat Ishbia – owner of the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury – and their father Jeff into the ownership group.

The White Sox are currently valued at around $2bn by Forbes. Reinsdorf, who also owns the NBA’s Chicago Bulls, bought the team for just $20m in 1981. In a statement, he described his tenure as “life-changing” and reaffirmed his commitment to returning the franchise to competitive form.

The deal reflects rising institutional interest in US sports franchises, particularly amid growing league valuations and rising audience engagement. The MLB’s 2025 season has already seen viewership and attendance rise significantly, despite short-term revenue pressure from the league’s search for a new national media rights partner following ESPN’s exit from a $550m annual agreement.

Source: SportsPro

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