JR still controls the team, and unless some of that 30% he actually sold, his bank account didn't get any bigger. Really, if true, nothing to see here.

15 minutes ago, bmags said:

well, not that there was any real threat, but I would feel good that an ownership group with Hobson would not move the sox.

Last I knew, we were still obligated to the ballpark through 2033, IIRC.

1 hour ago, Kyyle23 said:

Isn't it a bit sketchy that a 30% purchase of an MLB team is unreported in the media, don't the owners have to vote on these things 

The awesomeo article was 4 months ago...how did the Score just get wind of this now? It's so sus. 

5 minutes ago, Dick Allen said:

JR still controls the team, and unless some of that 30% he actually sold, his bank account didn't get any bigger. Really, if true, nothing to see here.

Searching White Sox ownership and corporate structure running Google and DuckDuckGo browsers doesn't reveal much insight at all. Forbes estimates JR's direct ownership at 19%, but there is little, if any, info on how much he controls (either directly or by proxy), the remaining 81%. No info on how the other 81% is distributed either. 

No change of control = no change in ownership.

Whether it is a precursor to something substantial is not known.

Just now, South Side Hit Men said:

No change of control = no change in ownership.

Whether it is a precursor to something substantial is not known.

Yet if it's a 30 percent purchase, that makes it a change in ownership because Jerry is no longer the man with the most, right?

this is a really weird click bait article

10 minutes ago, Kyyle23 said:

Yet if it's a 30 percent purchase, that makes it a change in ownership because Jerry is no longer the man with the most, right?

this is a really weird click bait article

Wouldn't that depend on who's shares she purchased?  Could she have bought some of the other minority shares so Reinsdorfs still have control still until they are fully ready to give it up?  If true, it is an odd situation regardless.

Maybe Jerry wanted to hand pick the next owner before he passes?  Give up 30% now to get involved and then just sell the rest upon death or when just ready to do so?

 

11 minutes ago, Kyyle23 said:

Yet if it's a 30 percent purchase, that makes it a change in ownership because Jerry is no longer the man with the most, right?

this is a really weird click bait article

That's not generally how companies work. If nobody owns more than 50%, then the person who has the support of at least 51% of the shares is in charge. You could own 49% of a company with the other 51% split among 10 people, but if those 10 people all fucking hate you, you aren't in charge of anything.

29 minutes ago, Dick Allen said:

JR still controls the team, and unless some of that 30% he actually sold, his bank account didn't get any bigger. Really, if true, nothing to see here.

Nothing to see ? Are you kidding me ? Imagine the awesome special effects during the Friday Night fireworks show. We could get 10 foot holograms of Luke Skywalker battling Darth Vader in the infield !! Every day would be Star Wars day !

17 minutes ago, FoxForce2 said:

Searching White Sox ownership and corporate structure running Google and DuckDuckGo browsers doesn't reveal much insight at all. Forbes estimates JR's direct ownership at 19%, but there is little, if any, info on how much he controls (either directly or by proxy), the remaining 81%. No info on how the other 81% is distributed either. 

We have gone through this many times, and the Tribune confirmed it years ago, JR could own 1/1000th of the team, he still is in total control, and if he dies, the executor of his estate has control. 

3 minutes ago, WhiteSoxFan1993 said:

That's not generally how companies work. If nobody owns more than 50%, then the person who has the support of at least 51% of the shares is in charge. You could own 49% of a company with the other 51% split among 10 people, but if those 10 people all fucking hate you, you aren't in charge of anything.

The way this is set up, JR has control until he is dead or sells out, and there isn't anything the other owners can do about it except sell their shares, and I think JR actually has to approve who they sell them to.

Edited September 21, 20214 yr by Dick Allen

1 minute ago, CaliSoxFanViaSWside said:

Nothing to see ? Are you kidding me ? Imagine the awesome special effects during the Friday Night fireworks show. We could get 10 foot holograms of Luke Skywalker battling Darth Vader in the infield !! Every day would be Star Wars day !

I'm in.

7 minutes ago, Dick Allen said:

We have gone through this many times, and the Tribune confirmed it years ago, JR could own 1/1000th of the team, he still is in total control, and if he dies, the executor of his estate has control. 

This.  The story has always been that even if he didn't own the most shares, Jerry has proxy for enough shares that he is in control.  Obvious none of us have seen the actual paperwork here, but that has been the story since they bought the team.

10 minutes ago, Dick Allen said:

We have gone through this many times, and the Tribune confirmed it years ago, JR could own 1/1000th of the team, he still is in total control, and if he dies, the executor of his estate has control. 

Yeah, I understand that. And have read that, at least at last report, that JR has directed the executor to outright sell the team upon his death. I was simply searching for a listing of ownership in ChiSox Co. As far as I can tell, JR has control even of the sale of shares i.e. there are no sell/buy back options without his approval. The owner of ChiCox shares can only seek JR's approval to move stock regardless of the size of that piece of the pie 

Edited September 21, 20214 yr by FoxForce2

1 minute ago, FoxForce2 said:

Yeah, I understand that. And have read that, at least at last report, that JR has directed the executor to outright sell the team. I was simply searching for a listing of ownership in ChiSox Co. As far as I can tell, JR has control even of the sale of shares i.e. there are no sell/buy back options without his approval. The owner of ChiCox shares can only seek JR's approval to move stock regardless of the size of that piece of the pie 

And you are never going to get a list of who owns what. Even the other partners have no idea who owns what. Only JR, and maybe a couple of his lackeys.

9 minutes ago, Dick Allen said:

The way this is set up, JR has control until he is dead or sells out, and there isn't anything the other owners can do about it except sell their shares, and I think JR actually has to approve who they sell them to.

This is my understanding as well albeit just what has been reported over the years. He has never been a majority owner but is the Chairmen of the Board.

1 hour ago, Kalapse said:

https://www.audacy.com/670thescore/podcasts/the-mully-haugh-show-on-670-the-score-64/mully-haugh-pick-six-jon-heyman-hour-2-768113998

At the 20:45 mark

The link didnt work for me. What is the date of the podcast ? And the title might help too since on the page of there podcast there are multiple podcasts on certain dates .

Edited September 21, 20214 yr by CaliSoxFanViaSWside

3 minutes ago, ptatc said:

This is my understanding as well albeit just what has been reported over the years. He has never been a majority owner but is the Chairmen of the Board.

As a kid, when JR bought the team, my dad is a lawyer, and he told be back then how this was all set up. It was just as the Tribune reported it 7 or 8 years ago. You could imagine there has to be a lot of people thinking selling is a good idea. If the original partners are still alive, they are in or pushing their 90s. They probably can't fully enjoy the full fruits of ownership. And heirs are sitting on generational wealth, and might not have the same passion for baseball their deceased relative had.

Edited September 21, 20214 yr by Dick Allen

3 minutes ago, Dick Allen said:

And you are never going to get a list of who owns what. Even the other partners have no idea who owns what. Only JR, and maybe a couple of his lackeys.

Howard "Smithers" Pizer knows.

9 minutes ago, Dick Allen said:

As a kid, when JR bought the team, my dad is a lawyer, and he told be back then how this was all set up. It was just as the Tribune reported it 7 or 8 years ago. You could imagine there has to be a lot of people thinking selling is a good idea. If the original partners are still alive, they are in or pushing their 90s. They probably can't fully enjoy the full fruits of ownership. And heirs are sitting on generational wealth, and might not have the same passion for baseball their deceased relative had.

From the standpoint of a billionaire, moving wealth over to the next generation will never be cheaper than it is today.  It wouldn't surprise me if some of this was estate planning.

10 minutes ago, CaliSoxFanViaSWside said:

The link didnt work for me. What is the date of the podcast ? And the title might help too since on the page of there podcast there are multiple podcasts on certain dates .

https://www.audacy.com/670thescore/podcasts/the-mully-haugh-show-on-670-the-score-64/mully-haugh-pick-6-jon-heyman-interview-hour-2-768113998

at 20:48

8 minutes ago, South Side Hit Men said:

Howard "Smithers" Pizer knows.

I would imagine the Einhorn inheritors (among others), have some idea of who owns what.

Edited September 21, 20214 yr by FoxForce2

Another thing is if you have a media guide and look at the White Sox Board of Directors, and compared it to the BOD from a media guide 20 years ago, you will see it has shrunk. When people die, they do not get replaced.

1 hour ago, Quin said:

I'm in.

Even if it means Jar Jar Southpaw?

24 minutes ago, turnin' two said:

Even if it means Jar Jar Southpaw?

I mean, when ChewPawcca is right there and is a much easier mascot to pull off, I think that's the route they'd go.