The Chicago White Sox are exploring avenues for a possible sale of the franchise, according to multiple reports, after just completing a 121-loss season that was the worst in the modern era. According to the Chicago Sun-Times, chairman Jerry Reinsdorf is "open" to finding a buyer for the club and one group showing considerable interest is being led by former major league pitcher Dave Stewart. A club spokesperson declined to comment on a potential sale.
Reinsdorf, who reportedly owns a 19 percent stake in the White Sox, has been the club's principal owner since 1981, when the franchise was purchased for $20 million. Earlier this year, Forbes valued the White Sox at $2.05 billion.
Reinsdorf, 88, also owns the NBA's Chicago Bulls but reportedly has no intention of selling that franchise. White Sox officials have shown interest in replacing their current stadium in Chicago's South Side with a modern venue closer to downtown on the edge of the Chicago River. The franchise wants $1 billion in public funding, Forbes reported in March.
The team's lease at Guaranteed Rate Field expires after the 2029 season. A potential sale to a group led by Stewart comes with the prospect that the franchise could leave Chicago entirely. Stewart has been leading a group that is trying to land an expansion franchise in Nashville, Tenn.
Stewart has ties to Reinsdorf's close friend, Tony La Russa, who was manager of the White Sox when Reinsdorf became owner in 1981 and who was hired to return for the 20.
