Look at Ray Ray Run

Ishbia doesn't strike me as someone who wants to hold the players down. He's buying a team to win and for fun. If anything, he'll want to act like a big market owner so I just don't see the benefit of having a small-market representation at the table.

I'm confused why any of you would want JR to deal with CBA negotiating for a team he's not going to run. I'd want the ownership group who will be running shop to be a part of the conversation. The White Sox have been abused by CBA agreements more than any other team. Jerry hasn't achieved anything.

Why? He would just be holding them for tax purposes.

Given that the limited partners deadline for sale is Friday, it's very unlikely (I'd say impossible, but don't want to be wrong!) that anything formal could/would be announced regarding a transition. One, MLB would have to approve of a sale and there's a lot of process to work through. Additionally, without commitment from limited partners until Friday you couldn't really formalize the rest of any agreements until after. I do think it's possible to get a better idea of the next steps based on the announcement/information released Friday though.

I'll say this, we get an Ishbia announcement on Friday and I'll buy a season ticket package that day.

The White Sox were the worst team of all time, completely devoid of position talent and upside, so we probably don't want to compare ourselves to anyone else.

Also, why would Ishbia want Jerry negotiating the future of the league for him?

Cohen is also very unique because most of that is straight cash. Horrible human being though. Justin is similar in that it's a lot of cash on hand as opposed to business value.

I like Burke. It's not the health but the command that worries me. He's got a great body and arm with high end stuff.

Unless you guys are talking to Jerry or Michael or the Partners at BDT & MSD, everything else will just be noise.

The problem here is typically capital calls can only be requested up to the amount of the already-invested. I can't imagine, given the tenure of most of these investors (I'm sure there are others more recent), that there's much capital to call down. Much of the value has been in gains for most of these limited partners. Typically these would also need to be in the initial agreements - or some amended version. Jerry, in theory, could be asking for capital now, meaning if someone did decline the call he'd be within right to dilute their share. Generally, the last part makes a little sense but given their removal of the diluted part from the article I'd speculate a capital call isn't happening but absolutely possible.

Correct, there are others paths here but none that are really within the scope of liklihood. This is business and the most obvious reason is almost always the right one. Especially given that the Reinsdorfs approached him after the Twins news.

Basically, dilution is much more likely to mean an infusion of cash into the business. It does get a bit tricky, depending on the Sox structure and agreements in place with limited partners (which I'm not going to pretend to understand or even speculate on), but assuming the double value was enough to dilute their percentage without diluting their value and they were on board with the perspective long-term growth from Ishbia's capital infusion, they could have agreed to allow Ishbia to create additional shares and increase cash flow and valuation for a stadium agreement and other capital needs. In this case, given that there is no additional share creation here, I find it much more likely this is merely a pathway to an outright sale. Unless there is some clause in the partnership agreements - which I highly doubt - Jerry can't force the limited partners to sell, meaning in my opinion, 1.8 was the price they agreed to sell out at; at least the majority of them. Edit: I like to think they're reading Soxtalk and saw our conversation on dilution so they circled around and updated their article.

This eliminates the stadium funding side then. This is just a formal buyout and sale.

Of course the Sox have to say this. It's not official. Limited partners haven't agreed to anything nor has the deadline elapsed.

Yes. I wouldn't want to be the majority owner of any company that I didn't control the decision making within.

The athletic article said it - quote is on the first page. And what you're saying really depends on the structure. Limited partners don't really have any power in this case. So Jerry could certainly diluted shares without diluting value - especially given that he's coming in at 1.8 billion.

February 22nd. A day that will live in infamy for sox fans everywhere. Congratulations gents. It's just a matter of time now.

The diluting of shares means he's in for more shares regardless of whether limited partners sell or not (which would add cash flow). Also the below part doesn't really align with him waiting even five years for a team. The Twins believed Ishbia was sincere in his pursuit because Reinsdorf wasn’t planning to sell the White Sox, according to a person with knowledge of the sale process. A person briefed on the situation told The Athletic that Ishbia held meetings in December with officials, community leaders and potential minority owners in Minnesota to express his interest in purchasing the team

We're White Sox fans man, he'll set the Guinness Book of World Records for oldest human on earth.

I'd need a lot more information on Sox structure obviously, but in the article it says they're getting a chance to sell and if they don't their shares will be diluted. Meaning ishbia is coming in no matter what and at a 1.8 billion valuation. Someone in this thread said in 2021 there was equity moved at 900 million valuation. That increase in investment valuation alone increases the Sox leverage in obtaining funding/backing on a stadium. Quote: Reading that quote, i could be misreading it or it could be written poorly. If it's not that, then nvm.

I certainly think stadium funding is a possibility here too but ishbia would still need something to give up buying the twins. Worst case he gets no control until Jerry passes but helps sponsor a stadium. Since we're sox fans, maybe we should expect the latter

I think we'll get an an announcement if the board changes and Ishbia acquires majority share. The most telling part to me is the 1.8 valuation. This could be about stadium funding as well, but also makes a lot of sense if the 1.8 point was where the share holders would be willing to sell out at for him to acquire control. Time will tell.

I think he probably still hangs on to his shares until he's gone but who knows.

I find it hard to believe that Ishbia will just wait for Jerry to die, unless as someone says there's known health issues. Why risk sitting here as a minority owner for another 15 years with no say in operations, spending and building the franchise value.