Originally Posted by gosox41
The team is set up as a Limited Partnership. This isn't ground breaking in the business world. There is a board of directors who have very little input on the day to day things.
As for selling the team, I believe he can sell to whom he wants but he is obligated legally to get the best deal possible for his partners. He can't go sell the team to his son for $1 or anything like ridculous like that.
I don't believe JR will sell his stake in the Sox as long as he lives, but, and pardon my ignorance here, what would be the situation that unfolds when he passes away? Obviously I don't know the Reinsdorfs but everything I have ever read suggests the family is interested in keeping their interest with the Bulls but not the Sox. Would they only be able to sell whatever their share of ownership and just have the board appoint a new acting chairman but basically have the same operational leadership or could they sell the franchise to an entirely new ownership group that may radically alter the way the Sox are run?