As Mat and Justin Ishbia are expected to pursue ownership of the Minnesota Twins, a new report has uncovered their connection to a division rival.
According to Kurt Badenhausen and Eben Novy-Williams of Sportico, the billionaire brothers recently bought a small take in the Chicago White Sox back in 2021. Though the Ishbias’ purchase went unreported at the time, people with knowledge of the situation anonymously told the publication that the brothers’ stake “represents a mid-single-digit percentage of the team.”
“The brothers invested as part of a special purpose vehicle (SPV) organized by two of owner Jerry Reinsdorf’s adult children, which bought out a number of existing LPs and increased the family’s ownership position in the MLB club, according to one of the people. The Ishbias’ role is passive, with no formal leadership positions or governance.”
This isn’t the first time the Ishbia brothers have been connected to the franchise. CHGO’s Adam Hoge tweeted in December that the pair has long been “interested in buying the White Sox should Jerry Reinsdorf ever sell.” Despite rumblings that the chairman was in “active discussions” to sell the team a few months ago, the development turned out to be an unsuccessful attempt to secure funding for a new stadium in the South Loop. With the White Sox remaining in Reinsdorf’s hands for the foreseeable future, the Ishbia brothers appear ready to instead make a serious run at the team up north.
Mat and Justin Ishbia were first reported as potential suitors for the Twins by Bloomberg in December 2024. This came after the Pohlad family announced their plans to explore selling the Minnesota franchise after 40 years of ownership. The family originally bought the team from Calvin Griffith for $44 million in 1984. The Ishbia-led group was the first to show a serious interest in the estimated $1.7 billion organization with an “aggressive pursuit” expected over the coming weeks.
As noted in the Sportico article, if the Ishbias are successful in purchasing the Twins, MLB ownership bylaws would force the brothers to sell their once-secret share of the South Side team. Given their limited involvement in the Sox franchise, the sale of their stake would not appear to be a major hold-up if and when their Minnesota pursuit turns serious.
We will continue to monitor the situation and provide an update on the Ishbias’ connection to the White Sox as further information is uncovered. To read Sportico’s original report, click here.
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