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MARTINMVP
08-31-2009, 12:47 PM
I'm not trying to instigate anything here. I've always been curious that if something were to happen to Jerry Reinsdorf while he still owns the team, then who would the team go to? Would it go to his minority ownership or to someone in his family?

ewokpelts
08-31-2009, 12:58 PM
As he is not the majority owner, it'll probably be an issue the board of directors will discuss

Luke
08-31-2009, 01:05 PM
I'm not trying to instigate anything here. I've always been curious that if something were to happen to Jerry Reinsdorf while he still owns the team, then who would the team go to? Would it go to his minority ownership or to someone in his family?

I believe he's the managing partner of the ownership group, Not the majority owner.

I would imagine the group already has some short term contingency in place in case something should happen.

jdm2662
08-31-2009, 01:24 PM
As already noted, he is the managing partner, not the majority owner. I've also heard his family has no interest in taking over. My guess is that the board of directors will sell once JR passes on.

Stoky44
08-31-2009, 01:25 PM
How many people own the white sox?
What percentage does Jerry own?

How/why did the group pick JR to run the Sox?

jdm2662
08-31-2009, 01:34 PM
How many people own the white sox?
What percentage does Jerry own?

How/why did the group pick JR to run the Sox?

On the old Sportswriters show, it was announced JR owns 13% of both the Bulls and the Sox. This was of course back in the mid-90s, so it could've changed since then. I think someone mentioned there was one owner that owns over 20% of the team, but don't quote me on that.

The Immigrant
08-31-2009, 01:44 PM
How many people own the white sox?
What percentage does Jerry own?

The members of the Board of Directors are typically listed in the media guide, but there are dozens of other minority investors whose names are not disclosed. Some of these investors are actually the estates of deceased minority owners. As you can imagine, many members of this ownership group are getting up there in age.

dickallen15
08-31-2009, 01:46 PM
JR is the second highest shareholder now according to something I read a couple of weeks ago. As far as his family not wanting to get involved, I don't think that's entirely true. I think one of his sons would love to have his dad's job. Of course, not at the expense of his dad. Whether or not the other shareholders agree, I have no idea. I really think if something did happen to JR, this group would sell. Wouldn't it be ironic if Mark Cuban someday owned the White Sox.

Stoky44
08-31-2009, 02:01 PM
I just find this really interesting. Sorry for all the questions.
If someone wanted to buy into the Sox now could they?
How much does eddie einhorn own? Why was he not placed as head of the board instead of JR?
Do many other teams have ownerships like ours, with so many owners?


I really want to stay on topic, but here is a question. Does JR need to get the budget approved by the group? PLEASE no debates how much to spend or how to spend it, I don't want it Roadhoused.
Could JR be ousted as head of the team? Is he "voted" in yearly?

DumpJerry
08-31-2009, 02:03 PM
As already noted, he is the managing partner, not the majority owner. I've also heard his family has no interest in taking over. My guess is that the board of directors will sell once JR passes on.

JR is the second highest shareholder now according to something I read a couple of weeks ago. As far as his family not wanting to get involved, I don't think that's entirely true. I think one of his sons would love to have his dad's job. Of course, not at the expense of his dad. Whether or not the other shareholders agree, I have no idea. I really think if something did happen to JR, this group would sell. Wouldn't it be ironic if Mark Cuban someday owned the White Sox.
He has a son who has been working in sports management for some time now. He is probably being groomed to take over the empire when Jerry retires.

DumpJerry
08-31-2009, 02:04 PM
I just find this really interesting. Sorry for all the questions.
If someone wanted to buy into the Sox now could they?
No.

Don't know the answers to your other questions.

Nellie_Fox
08-31-2009, 03:00 PM
... if Mark Cuban someday owned the White Sox.
Oh, please, no.

DumpJerry
08-31-2009, 03:05 PM
Wouldn't it be ironic if Mark Cuban someday owned the White Sox.
Won't happen. He'll be confused when he sits in the Bleachers with Sox fans.



They will talk baseball with him.

munchman33
08-31-2009, 03:30 PM
On the old Sportswriters show, it was announced JR owns 13% of both the Bulls and the Sox. This was of course back in the mid-90s, so it could've changed since then. I think someone mentioned there was one owner that owns over 20% of the team, but don't quote me on that.

I thought that person was Sam Zell, who sold his share when he bought the Tribune and a AAA ballclub. Whether someone else owns more now, or if Jerry bought out Zell, I have no clue.

ohiosoxfan
08-31-2009, 03:53 PM
His son is currently the chairman of the Harrisburg Senators of the Eastern League, AA affiliate of the Nats.

Lip Man 1
08-31-2009, 03:55 PM
In a nutshell:

JR has day to day control of the team, he can not be questioned or outvoted if he decides to make a move, change a policy etc. It's in his contract. The only way the board of directors can step in and take action is if JR has done something illegal.

He became CEO because he has the largest stake in the team.

I have been told by two sources that his family has no interest in running the team after he leaves the scene.

I have asked the 'what happens' question many times to members of the media, former players and so forth and no one has any idea. Phil Rogers went so far as to tell me that it's been a topic of discussion in the sports department of the Tribune, but no one can even speculate.

My guess is the board will offer a stake to his son (that doesn't mean he'll be put in charge) and if he doesn't want to participate, it'll be sold to a company or a wealthy individual.

Lip

DumpJerry
08-31-2009, 04:06 PM
My guess is the board will offer a stake to his son (that doesn't mean he'll be put in charge) and if he doesn't want to participate, it'll be sold to a company or a wealthy individual.
I know some WSIers who are extremely knowledgeable about what the team needs and how to meet those needs. Would the Board be interested in meeting with them?

If they do meet, the following will happen immediately upon acquisition:

1. Brian Anderson will be traded back to the team and will start all 162 games in Center.
2. Walker will be fired.
3. Ozzie and Kenny are on thin ice, too.
4. Anyone on the team who hits a home run will be fined by the team for $5,000 per home run.
5. Tickets will be free.
6. Payroll will be $200,000,000.

eriqjaffe
08-31-2009, 04:14 PM
1. Brian Anderson will be traded back to the team and will start all 162 games in Center.So will Aaron Rowand.

slavko
08-31-2009, 04:51 PM
I thought that person was Sam Zell, who sold his share when he bought the Tribune and a AAA ballclub. Whether someone else owns more now, or if Jerry bought out Zell, I have no clue.

On the old Sportswriters show, it was announced JR owns 13% of both the Bulls and the Sox. This was of course back in the mid-90s, so it could've changed since then. I think someone mentioned there was one owner that owns over 20% of the team, but don't quote me on that.

We know Sam owned some of the Sox, I think he's the 20% guy, but can't prove it. I never heard anything about him divesting his Sox share. He could have put it in trust or otherwise changed the ownership to avoid a conflict of interest. I strongly doubt that JR bought it.

He is less likely to want to run a club than the JR family.

Coolpapa
08-31-2009, 06:49 PM
I would bet Jerry would be on the short list to be the next commissioner

CHISOXFAN13
08-31-2009, 06:59 PM
I would bet Jerry would be on the short list to be the next commissioner

Reinsdorf will be 78 when Selig's contract retires.

gosox41
08-31-2009, 09:39 PM
We know Sam owned some of the Sox, I think he's the 20% guy, but can't prove it. I never heard anything about him divesting his Sox share. He could have put it in trust or otherwise changed the ownership to avoid a conflict of interest. I strongly doubt that JR bought it.

He is less likely to want to run a club than the JR family.

I don't believe Sam is the largest pecentage owner.


Bob

Lip Man 1
08-31-2009, 10:36 PM
JR has the largest stake in the team, that's why he runs it. Speculation has ranged from between 5% to 13%.

I know that doesn't sound like much on the surface but when you have as many "owners" as the Sox have, the pie is sliced pretty thin.

Lip

ewokpelts
09-02-2009, 11:01 AM
I thought that person was Sam Zell, who sold his share when he bought the Tribune and a AAA ballclub. Whether someone else owns more now, or if Jerry bought out Zell, I have no clue.
zell still owns his PRIVATE shares in the sox/bulls.


mlb told him he had to sell either the cubs or his sox stake. he chose teh cubs.

ewokpelts
09-02-2009, 11:04 AM
JR has the largest stake in the team, that's why he runs it. Speculation has ranged from between 5% to 13%.

I know that doesn't sound like much on the surface but when you have as many "owners" as the Sox have, the pie is sliced pretty thin.

Lip
Jerry invested ONE MILLION DOLLARS on the sox in 1981. The purchase price was $20 million. Simple math implies that he has a 5% stake.

He's chairman because he organized the group of investors to buy from veeck(and offered stakes to some veeck partners to stay on).

Nellie_Fox
09-02-2009, 01:21 PM
Simple math implies that he has a 5% stake.Unless the others voted him a larger share for the responsibility of being managing partner.

dickallen15
09-02-2009, 02:52 PM
Jerry invested ONE MILLION DOLLARS on the sox in 1981. The purchase price was $20 million. Simple math implies that he has a 5% stake.

He's chairman because he organized the group of investors to buy from veeck(and offered stakes to some veeck partners to stay on).

He has a higher stake now. I read where he has about 13% somewhere.

fram40
09-02-2009, 10:21 PM
He has a higher stake now. I read where he has about 13% somewhere.

I thought there was a league rule that one person had to have at least 30%. (altho it may have been another sport's ownership requirement)

LITTLE NELL
09-03-2009, 09:25 AM
Would it not be great that the next owner has so much money that he does'nt know what to do with it. In other words, money is not a concern when signing free agents or building up the farm system where its the best in MLB, or even building a new ballpark in the south loop with the greatest skyline in the world as a backdrop.
One can only dream............

dickallen15
09-03-2009, 10:03 AM
I thought there was a league rule that one person had to have at least 30%. (altho it may have been another sport's ownership requirement)

I read where JR's stake is second highest now among shareholders. The top guy has 20%. I think he's the guy with the lower suite first one on the third base side.

Nellie_Fox
09-03-2009, 10:32 AM
Would it not be great that the next owner has so much money that he does'nt know what to do with it. In other words, money is not a concern when signing free agents or building up the farm system where its the best in MLB, or even building a new ballpark in the south loop with the greatest skyline in the world as a backdrop.
One can only dream............Are you aware that there is an MLB rule about not operating teams at a loss? The owner cannot just shovel personal money into the team, regardless of how rich he/she is.

LITTLE NELL
09-03-2009, 10:38 AM
Are you aware that there is an MLB rule about not operating teams at a loss? The owner cannot just shovel personal money into the team, regardless of how rich he/she is.
We would fill the ballpark every night and make a profit. Ever hear of the New York Yankees?

Nellie_Fox
09-03-2009, 10:52 AM
We would fill the ballpark every night and make a profit. Ever hear of the New York Yankees?Okay, but that's not what you were implying. You were talking about an owner personally having so much money that he just didn't care.

LITTLE NELL
09-03-2009, 10:58 AM
Okay, but that's not what you were implying. You were talking about an owner personally having so much money that he just didn't care.
Sorry if thats the way it came out plus it was a dream.

munchman33
09-03-2009, 11:37 AM
Would it not be great that the next owner has so much money that he does'nt know what to do with it. In other words, money is not a concern when signing free agents or building up the farm system where its the best in MLB, or even building a new ballpark in the south loop with the greatest skyline in the world as a backdrop.
One can only dream............

Owners don't buy ballparks anymore. At least not with their own money. Any potential owner claiming otherwise is either an idiot, a liar, or a financial liability to the potential organization he's trying to run.

LITTLE NELL
09-03-2009, 11:42 AM
Owners don't buy ballparks anymore. At least not with their own money. Any potential owner claiming otherwise is either an idiot, a liar, or a financial liability to the potential organization he's trying to run.
Read the post, one can only dream.

ewokpelts
09-03-2009, 12:37 PM
I thought there was a league rule that one person had to have at least 30%. (altho it may have been another sport's ownership requirement)NFL rule. although it's waived for virgina mccaskey, who does not have 30%

munchman33
09-03-2009, 02:14 PM
Read the post, one can only dream.

I'm saying if an owner came in and bought us a new ballpark with his own money like you clamored for, he'd easily and quickly run the organization into the ground. Opposite effect of what you actually want.

RealFan
09-03-2009, 02:51 PM
No.

Don't know the answers to your other questions.

Actually, I met someone on a plane who purchased a small share of the Sox in 2006. He had the business card to prove it. So I think small stakes do trade but probably only on a relationship basis.

mrfourni
09-03-2009, 03:21 PM
Owners don't buy ballparks anymore. At least not with their own money. Any potential owner claiming otherwise is either an idiot, a liar, or a financial liability to the potential organization he's trying to run.

What about Reinsdorf and Wirtz building the United Center?

ewokpelts
09-03-2009, 03:23 PM
What about Reinsdorf and Wirtz building the United Center?they had bank financing.

and teams that all but guranteed sellouts.

munchman33
09-03-2009, 05:02 PM
What about Reinsdorf and Wirtz building the United Center?

Things are a lot different now. It simply doesn't happen anymore. It costs way too much money, and new stadiums can last as little as a decade (and end up lasting two tops before at least significant renovations are necessary). Why would I buy a new stadium when I'm either

1.) going to buy a new one later
2.) end up with that stadium when I sell the team to someone who undoubtedly will hold the city ransom for a new, public funded stadium

The point I'm trying to make is that nowadays the only type of person that would do this would be a complete moron. I don't want the White Sox to be bought by such a person, as they obviously inherited their money and do not know how to spend wisely enough not to ruin an organization.

slavko
09-03-2009, 09:10 PM
Jerry invested ONE MILLION DOLLARS on the sox in 1981. The purchase price was $20 million. Simple math implies that he has a 5% stake.

He's chairman because he organized the group of investors to buy from veeck(and offered stakes to some veeck partners to stay on).

This is undisputable fact.

I believe he has 13% today. I believe The Really Big Z has the 20%. The South Loop Stadium idea brings back memories of Mariotti, who rode it like a rented mule. (sorry Hawk)

ewokpelts
09-04-2009, 06:53 PM
This is undisputable fact.

I believe he has 13% today. I believe The Really Big Z has the 20%. The South Loop Stadium idea brings back memories of Mariotti, who rode it like a rented mule. (sorry Hawk)I doubt he's invested more than his initial buy in.

Why bother? Especially since that one million has multiplied 20 or so times over.

dickallen15
09-05-2009, 09:57 AM
I doubt he's invested more than his initial buy in.

Why bother? Especially since that one million has multiplied 20 or so times over.

If the value of the franchise keeps increasing, the value of the shares do as well. Its just like buying stock. If he bought the extra shares when the franchise was valued at $100 million, he's done pretty well for himself. JR is a wise man. He has more than he did when the team was purchased. IIRC, he also has the right of first refusal or something of the sort withany shares that become available.

soxfanreggie
09-05-2009, 10:27 AM
Okay, but that's not what you were implying. You were talking about an owner personally having so much money that he just didn't care.

It may not matter to the owner if he makes $1 or $10 million though each year. If he's got $5 billion, that $10 million is going to mean squat to him but he also doesn't operate at a loss.

Actually, I met someone on a plane who purchased a small share of the Sox in 2006. He had the business card to prove it. So I think small stakes do trade but probably only on a relationship basis.

If you have enough money, I bet they'll sell you a share. If I was loaded with mega millions to play around with, I would definitely try to acquire a stake in the team.

Mohoney
09-05-2009, 01:09 PM
Are you aware that there is an MLB rule about not operating teams at a loss? The owner cannot just shovel personal money into the team, regardless of how rich he/she is.

Does that include any luxury tax paid by going over the payroll limit?

MARTINMVP
09-22-2009, 07:38 PM
In all honesty, I just want a situation where (after Reinsdorf is gone) the Sox are an unwanted team with no one wanting to buy them. I don't want there to be any remote chance that it could come even close to resembling the MLB and Expos situation from a few years back.

Nellie_Fox
09-22-2009, 11:32 PM
In all honesty, I just want a situation where (after Reinsdorf is gone) the Sox are an unwanted team with no one wanting to buy them. I don't want there to be any remote chance that it could come even close to resembling the MLB and Expos situation from a few years back.What are you trying to say? It sounds like you're contradicting yourself. :scratch:

MARTINMVP
09-23-2009, 08:59 AM
What are you trying to say? It sounds like you're contradicting yourself. :scratch:

My mistake. I meant, I don't want in both instances. I don't want the Sox to end up being some team that has a hard time being sold and ultimately ends up with an owner who doesn't really care about the team or winning.

If something happens to Reinsdorf, I just hope that someone who actually likes the White Sox, or at the very least, someone who wants to make money off of wining will be around to purchase the team.

munchman33
09-23-2009, 09:26 AM
I want the White Sox to be the first ESPN owned team. Things would change.

WSox597
09-23-2009, 12:07 PM
I want the White Sox to be the first ESPN owned team. Things would change.

Right, they'd be first on the news, right after the Yankees, Red Sox and Cubs.

Even in your joking instance, they would pander to their audience.

munchman33
09-23-2009, 12:11 PM
Right, they'd be first on the news, right after the Yankees, Red Sox and Cubs.

Even in your joking instance, they would pander to their audience.

I don't know, ESPN has had a habit of showcasing their investments. So much so that it caused journalists to leave.

mrfourni
09-23-2009, 12:42 PM
I want the White Sox to be the first ESPN owned team. Things would change.

Disney (ESPN's parent company) owned the Angels and the Mighty Ducks at one point. We wouldn't be the first.

eriqjaffe
09-23-2009, 01:20 PM
Ownership by media conglomerates pretty much guarantees championships. Heck, take the Cubs, for example...

MARTINMVP
09-23-2009, 02:03 PM
I want the White Sox to be the first ESPN owned team. Things would change.

You are absolutely correct. Instead of embracing goats, they'd have to embrace a mouse.