Chairman Jerry Reinsdorf is considering moving the White Sox from Guaranteed Rate Field when the team’s lease expires in six years, and may also explore selling the team, according to a report in Crain’s Chicago Business.
At a time when Reinsdorf is conducting internal discussions to begin exploring the direction of the team on the field and the front office and field leadership of the team, the 87-year-old chairman who led a limited partnership group that purchased the Sox for $19 million in 1981 is also 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.
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 all options begin to be explored.
Reinsdorf, 87, has won six NBA championships as chairman of the Bulls and one as chairman of the Sox, but is known to have greater affections 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 Reinsdorf 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.
The Sox are leaving the door open to leaving Guaranteed Rate Field.
“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, Fla., 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 team’s most disappointing seasons in franchise history. The Sox (49-75) 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 38 games left starting Monday in a game against the Mariners 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.
Team spokesman Scott Reifert said before the game that Reinsdorf has been engaged in such conversations, noting it should come as no surprise and is standard procedure. It should be, considering the Sox’ plight, the latest example falling behind 5-0 in the first inning to the Mariners.
Reinsdorf has also been talking about bigger moves as well.
“The conversations would be with the city, ISFA and the state and most likely would be about vision, opportunities and the future,” Reifert said.
