I am not sure how he gets out of this. The franchise has hit rock bottom. He just shuffled the front office last year and replaced the coach two years ago. His new stadium proposal was dead-on-arrival.
It is well known that his estate is going to sell the team when he dies since his kids have no interest in the team. But with the current state of capital markets, selling before then would be fairly challenging.
On the buyer side, the cost of capital is prohibitive especially if you need/ want to factor in a new stadium. For Reinsdorf's current investors, even if they wanted to sell, they would obviously need to reinvest in this market. Do you know who makes up the minority shareholders?
Reinsdorf entity owns the GP interest and total equity of about 20% (although he says it is more). Andrew Berlin of Berlin Packaging is a limited partner and has expressed interest in owning a MLB franchise. I believe he/his family own the South Bend Cubs despite the fact he is a die hard White Sox fan. I am not aware of any full list of the limited partners.
Perhaps it's just playing hardball...
Details of the partnership have been kept private but Forbes reports Reinsdorf currently owns about 19 percent of his baseball team. He told Hinz that “the big money” is represented by non-Chicagoans who would seek a maximum return in any sale, likely leading to a move to Nashville or another city seeking a team.
“When I’m gone, (Michael) will have an obligation to do what’s best (for the other investors),” Reinsdorf said. “That likely means putting the team up for sale … The team will be worth more out of town.”
by comparison. With the help of Thompson and of a stopped clock in Springfield, Reinsdorf was able to use the "threat" of moving to a mausoleum located miles from the TB population center to get a new stadium once. I don't know if he's trying for some sort of a repeat or if he just doesn't care anymore, but his toxicity knows no bounds.
Sox are currently on their way to their first consecutive 100 loss seasons EVER in their 124 year history. This could be their 3d 100 loss season since 2018--they had 3 such seasons from 1901-2017. They're well on their way to having 2 winning, 9 losing, and 1 .500 season in last 12 years. Their 1968-80 run (2 winning, 10 losing, 1 .500 season--only one 100 loss season) was a franchise low point. They're creating another low point now.
Why would Nashville WANT to pony up hundreds of millions to build a stadium for a team w/ such a record? Outside on the Nashville SMSA, who would care about such a team? There's a franchise 250 mi away that has had a geographically broad fan base since 1966 and that has been a perennial contender since 1991.
I hated him for years for many reasons, but he's beyond the pale now.
is the current mayor ran on no public funding for stadiums as the locals were mad about funding the Titans new stadium. Jerry let it be known he met with the Nashville mayor, but I don’t think he did enough due-diligence to even realize the history of the guy he was meeting with.
beyond their stadium. He'd likely have the same problem if Sox moved to Nashville. For example, Hunstville is now AL's largest city, it has a lot of people w/ disposable income, and it's a straight shot S on I-65. It's my wife's home town, and the Braves are the local team there. KY to the N is Reds' territory.
I'd also note that he's 88 now, and he'll be 93 (assuming he's still vertical) when the lease expires. He will die a billionaire who cares more about investors in the team than he cares about the local citizenry who built him a stadium and an arena and who loyally supported his 2 teams.
EDIT: Next time he thinks that he's such a bleeding genius on the economics of franchise relocation, perhaps he should look at Rays' attendance relative to their record from 2008 to date. They've had 2 WS appearances and 9 playoff appearances in that 16 year span. Sox have had 1 WS appearance and 7 playoff appearances in 43 years and counting under Reinsdorf. Given how Rays have drawn in that park w/ that record in that span, imagine how Sox would've drawn in TB w/ their record.
for exactly the reasons you state. That 50 mile radius from Chicago contains millions more people than Nashville even if you slice half of it off and hand the northern part exclusively to the Cubs.
It’s the same thing as it was with Tampa - leverage for a deal from the state.
Now, on the team this year, they’re unwatchable. I have never heard of two thirds of them, they’re barely an AAA team with the worst hitting I’ve ever seen, and I truly think they might challenge the ‘62 Mets as the worst team in the modern era. If they win 50 games it’ll be a miracle.
Complete fan speak and utter bullshit.
Sorry I can’t elaborate
Generated by Chatgpt in less than one minute. I still don't understand why there isn't anyone in Chicago, or other parts of the country interested in buying out Reinsdorf. While he is the GP, he owns about 20% of the equity.
If he’s not selling, just move. Anywhere.