Chairman Jerry Reinsdorf is considering moving the White Sox from Guaranteed Rate Field when the team’s lease expires in six years, and he also might explore selling the team, according to a report in Crain’s Chicago Business.
At a time when he is conducting internal discussions to begin exploring the direction of the team in the dugout and the front office, Reinsdorf, who was part of an ownership group that purchased the Sox for $19 million in 1981, also is contemplating the bigger picture for a franchise worth around $2 billion.
The possibility of moving is serious enough, according to Crain’s, that a Chicago developer is preparing a bid and possibilities exist for a move to a new stadium in the city or suburbs, or even relocating to Nashville, Tennessee.
With a lease with the Illinois Sports Facilities Authority, the state entity that owns the ballpark, expiring in 2029, the Sox say it’s time to explore all options.
Reinsdorf, 87, has won six NBA championships as chairman of the Bulls and one World Series title as chairman of the Sox but is known to have greater affection for baseball, as evidenced by his regular attendance at games. His son, Michael, has taken over as president and CEO of the Bulls, but Jerry does not like baseball’s current financial structure or see it improving to his liking, sources say, and nevertheless would be more likely to cut ties with baseball. He is the seventh individual in major-league history to surpass 40 years as an owner.
“We have not had any conversations about our lease situation, but with six years remaining, it is naturally nearing a time where discussions should begin to take place,” team spokesman Scott Reifert said in a statement.
The Sox discussed moving to the suburbs, Addison included, and almost moved to St. Petersburg, Florida, in 1988, when former Gov. Jim Thompson’s last-hour deal to approve a tax-subsidized new Comiskey Park was approved by a slim margin in Springfield a few minutes after a midnight deadline, keeping the team on the South Side.
New Comiskey Park was built at 35th and Shields, and the Sox moved there in 1991.
Exploration of a move comes during one of the most disappointing seasons in franchise history. The Sox (49-76) were supposed to be in their window of contention after a rebuild, but Reinsdorf has conducted internal interviews to determine whether changes in the front office or coaching staff should be made with 37 games left after the 14-2 loss to the Mariners on Monday at Guaranteed Rate Field.
Aside from the 2005 World Series championship, the Sox have played in the postseason six times since Reinsdorf bought the team 42 years ago.
Reifert said before the game that Reinsdorf has been engaged in such conversations, noting it should come as no surprise and is standard procedure.
“The conversations would be with the city, ISFA and the state, and most likely would be about vision, opportunities and the future,” Reifert said.
