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Fenway
07-11-2007, 10:30 AM
Not trying to send JR off to an early grave but who would take over as Chairman when the time comes? Unlike Steinbrenner you never hear of any family members waiting in the wings.

I ask this only because of the fiasco that happened when Halas died.

dakuda
07-11-2007, 10:37 AM
Reinsdorf is a minority partner (financially), if I remember correctly. My guess is that another partner would step up to be the public face of the ownership.

kittle42
07-11-2007, 10:40 AM
We hope the next owner infuriates us less.

jdm2662
07-11-2007, 10:41 AM
JR's sons have no interest in taking over the team. So, his share will probably be sold when he passes on. I would imagine the current shareholders will find a new chairman, or just sell the team.

twentywontowin
07-11-2007, 10:44 AM
We will exhume Bill Veeck.

Good question, who knows?

Viva Medias B's
07-11-2007, 10:45 AM
JR's sons have no interest in taking over the team. So, his share will probably be sold when he passes on. I would imagine the current shareholders will find a new chairman, or just sell the team.

Moreover, the inheritance tax would probably force JR's sons to sell their father's share of the stock. Several offspring of deceased team owners have found themselves in that situation.

102605
07-11-2007, 11:06 AM
Michael Jordan needs a new investment.

WhiteSox5187
07-11-2007, 11:28 AM
Hopefully Einhorn doesn't then become the Chairman...maybe one of us will be the new chairman???

getonbckthr
07-11-2007, 11:28 AM
JR's sons have no interest in taking over the team. So, his share will probably be sold when he passes on. I would imagine the current shareholders will find a new chairman, or just sell the team.
I just talked to my parents. They told me if Jerry would like to adopt me they will sign all the legal documents needed.

MCHSoxFan
07-11-2007, 11:47 AM
I will!!!! My brother lives just down the street from Jerry.

Lip Man 1
07-11-2007, 12:23 PM
I've asked this question to some of the media members that I have interviewed for the web site and every one of them has no idea what would happen. I think Phil Rogers said it best, he said the question was discussed in the Tribune sports offices an no one can could up with a realistic scenario.

Yes the point is accurate that his family does not want to take over after he leaves.

My best guess is that the franchise is put up for sale and new ownership is found.

Lip

TDog
07-11-2007, 12:42 PM
What happens after JR? Another face of ownership would emerge for Sox fans to vilify.

I also wouldn't be surprised if the Sox go up for sale when Mr. Reinsdorf is ready to retire as chairman.

nevr say dye sox
07-11-2007, 12:48 PM
I vote for Eddie Debartolo.

Hokiesox
07-11-2007, 12:59 PM
Michael Jordan needs a new investment.


PLEASE NO! His sports team investments have done rather poorly over the years. And if his playing days in baseball in any strange way predict his owning skills, NO!

Madvora
07-11-2007, 01:01 PM
How about the Tribune Company?

jenn2080
07-11-2007, 02:07 PM
Michael Jordan needs a new investment.


Oh please no. He should stay a player not an owner.

Fenway
07-11-2007, 02:13 PM
Oh please no. He should stay a player not an owner.

could he make the 2007 White Sox?

http://www.sportsecyclopedia.com/al/chisox/Jordancws.JPG

Hokiesox
07-11-2007, 02:22 PM
could he make the 2007 White Sox?

http://www.sportsecyclopedia.com/al/chisox/Jordancws.JPG

We do need outfield help, but not that badly.

dickallen15
07-11-2007, 05:10 PM
I've asked this question to some of the media members that I have interviewed for the web site and every one of them has no idea what would happen. I think Phil Rogers said it best, he said the question was discussed in the Tribune sports offices an no one can could up with a realistic scenario.

Yes the point is accurate that his family does not want to take over after he leaves.

My best guess is that the franchise is put up for sale and new ownership is found.

Lip
His son Michael would love to have his father's position with the White Sox. He's been involved with minor league teams, and with stadium development. I wouldn't be so sure he isn't being groomed at least as a potential replacement.

Lip Man 1
07-11-2007, 08:04 PM
Dick:

The last I heard of this was from JR himself.

He appeared on ‘Chicago Tonight’ with host Bob Sirott in May 2004 and said his family has no interest in the team after he is gone.

(I got a copy of the interview from an associate from WTTW-TV.)

The other thing I heard on this was from Rich Lindberg who worked for the organization as the 'historian' in the early - mid 80's. He knows members of the family and told me that JR's wife has for years been urging him to sell and get out of baseball but he's ignored her.

Lip

hose
07-11-2007, 08:12 PM
He knows members of the family and told me that JR's wife has for years been urging him to sell and get out of baseball but he's ignored her.

Mrs. Reinsy----
:selljerry

gregoriop
07-11-2007, 08:15 PM
My best guess is that the franchise is put up for sale and new ownership is found.

Lip

How if he's a minority owner?

Lip Man 1
07-11-2007, 08:19 PM
Because he is in fact the MAJORITY owner with approximately 9% ownership of the club...that's more than anyone else.

Also more importantly, he has it in his contract that he is the sole decision maker on the day to day operations of the team because of his 9% ownership stake and because he was the guy who put together the original group to buy the Sox back in 1981.

The other investors by contract have no say in the running of the operation. JR can do as he pleases and that includes selling.

Lip

gregoriop
07-11-2007, 08:27 PM
Oh I gotcha now.

RowanDye
07-11-2007, 08:46 PM
Because he is in fact the MAJORITY owner with approximately 9% ownership of the club...that's more than anyone else.

Also more importantly, he has it in his contract that he is the sole decision maker on the day to day operations of the team because of his 9% ownership stake and because he was the guy who put together the original group to buy the Sox back in 1981.

The other investors by contract have no say in the running of the operation. JR can do as he pleases and that includes selling.

Lip

Selling the team falls under "day-to-day operations"? You mean the other shareholder wouldn't even get a vote?

If that is the case, then there must be some plan in place in case of a sudden illness/death.

champagne030
07-11-2007, 08:58 PM
Selling the team falls under "day-to-day operations"? You mean the other shareholder wouldn't even get a vote?

If that is the case, then there must be some plan in place in case of a sudden illness/death.

I don't know who is still around from the original group (does the family of Lamar Hunt still have his original investment in play?), but they pooled up $20M and the club is now worth almost $400M. They (original group) are all getting up in years and I would imagine they wouldn't mind cashing out and setting up their family 6 generations out.

wealz07
07-11-2007, 08:59 PM
Yes the point is accurate that his family does not want to take over after he leaves.

I've heard otherwise recently from someone within the organization. JR's son and many other of the investors' children would take their father's shares. Who knows for sure though.

Lip Man 1
07-11-2007, 09:30 PM
Wealz:

Anything's possible I can only relate what I watched in the interview from May 2004.

Lip

Lip Man 1
07-11-2007, 09:33 PM
Rowan:

There is a board of directors made up of ten or eleven investors (I can list the names if you wish) ALL have strong allegiances to JR.

In case of a 'sale' I'm sure the board would get a vote, someone with business experience may be able to provide more insight on this, but I don't think EVERY Sox investor is allowed one.

Given the loyalty of that group on the board to JR, unless it was a ludicrous offer, I'd be shocked if there was one vote opposed to a sale.

Lip

chaerulez
07-11-2007, 09:48 PM
Does JR only own a percentage of the Bulls too? Or does he actually own 100 percent of that team?

DoItForDanPasqua
07-11-2007, 09:54 PM
I hear that Carlos Slim Helu is looking for a new investment.

alohafri
07-11-2007, 10:42 PM
maybe one of us will be the new chairman???

The Elvis Megabucks machine at the Strat wasn't THAT good to me.:(:

Frater Perdurabo
07-11-2007, 10:48 PM
I vote for Eddie Debartolo.

Didn't he get convicted for some kind of serious crime like tax evasion?

Lip Man 1
07-12-2007, 12:26 PM
I don't think he owns 100% of the Bulls because when Lamar Hunt died last year the story said he was part owner of the Bulls.

Like with the Sox, there are a group of investors.

Lip

lostfan
07-12-2007, 12:40 PM
PLEASE NO! His sports team investments have done rather poorly over the years. And if his playing days in baseball in any strange way predict his owning skills, NO!
Everything Jordan was as a player he's not as a front office type. To put it quite bluntly, he blows ass as an exec.

jdm2662
07-12-2007, 01:07 PM
I don't think he owns 100% of the Bulls because when Lamar Hunt died last year the story said he was part owner of the Bulls.

Like with the Sox, there are a group of investors.

Lip

I think the number for the Bulls is 13%. Lester Munson had mentioned this on the Sportswriters many years ago.

The Immigrant
07-12-2007, 01:15 PM
Like with the Sox, there are a group of investors.

There is a fair amount of overlap between the two ownership groups. Interestingly, Bill Wirtz is a limited partner in the Bulls but not the Sox.

TDog
07-12-2007, 01:28 PM
There is a fair amount of overlap between the two ownership groups. Interestingly, Bill Wirtz is a limited partner in the Bulls but not the Sox.

It's easy for people here to be cynical, if not antagonistic, toward the White Sox ownership group. As a White Sox fan both at the time of the purchase and today, as well as the quarter century in between, I respect the investors for coming forward to keep the Sox in Chicago with local ownership. I'm sure there were better investments available at the time.

Fenway
07-12-2007, 02:13 PM
I would "assume" Jerry would sell his share before he dies and transfer it to his family ( I think that solves the estate tax problem )

I am wondering how Steinbrenner is going to get around this. Yes his son Hank is now in line to take over but Steinbrenner's estate tax would be out of this world.

At least it won't be as messy as what happened when Tom Yawkey died. He left no will of any kind. That started the three ring circus of Mrs Yawkey, Haywood Sullivan and Buddy LeRioux which is how Fisk came to Comiskey.

Then Mrs. Yawkey dies and her accountant wound up with the team ( John Harrington )

tacosalbarojas
07-12-2007, 10:08 PM
His son Michael would love to have his father's position with the White Sox. He's been involved with minor league teams, and with stadium development. I wouldn't be so sure he isn't being groomed at least as a potential replacement.This is what I thought when the article came out in the Trib a couple of years ago where it essentially said Michael is not interested in taking over for JR; and, oh by the way, he's running minor league franchises.

soxfanreggie
07-12-2007, 10:41 PM
When I become executor/trustee of our family trust, I will use some of the money to buy Jerry's shares. I will then assume control of ownership for the Sox. If my grandfather or mother is still trustee, I will have them name me team President. WSI party in the owners box....hmmmm! :D: