Well, Lookie Here
Seems rumor is becoming reality:
They’re screaming in delight as they dance in the streets of Bridgeport, Hyde Park and Hegewisch. They’re shouting praises to the heavens in Homewood, South Holland and Calumet City. They’re hooting and hollering and making plans for ceremonial burnings of their “SELL THE TEAM” signs when the baseball gods at last deliver them from the ownership of Jerry Reinsdorf.
Is Reinsdorf really going to sell the Sox? Can it be?
The 88-year-old chairman is in discussions with a group led by former major league pitcher Dave Stewart, the Sun-Times confirmed. Word of this spread instantly through Soxdom on Wednesday, the first sign of excitement those parts have seen since the 2021 postseason.
And Dave Stewart's group is in negotiations to bring a MLB franchise to Nashville. Or Oakland.
But as the article also states, this could be a ploy by Reinsdorf to leverage another new stadium out of taxpayers.
Labels: sports
posted by SCC at 12:03 AM
39 Comments:
First the people leave, then the companies, and entertainment. Last one turn out the lights. Chicago is in the final throes. The politicians are killing the cash cow.
Take the money and run Jerry the team and the organization suck and are an embarrassment to MLB TTFN
Reinsdorf's claims of an outdated stadium and bad location? The Cubs are in the middle of a neighborhood and refurbished Wrigley Field with their own money and make a huge profit! Also, the Cubs never threatened to leave Chicago.
We've seen this Reinsdorf ploy before as he threatened to move the team to Tampa in the late 80's if he didn't get a steal of a deal in a new stadium. This is a case of fool me once, shame on me. Fool me twice, shame on me.
If the Sox do move, this will be another black eye for Mayor CTU in list revenue for the city. And will MLB allow another team to move to Chicago if the Sox move. Possible team moving to Chicago could be the Tampa Bay Rays now that their stadium roof is MIA and they'll play somewhere else in 2025. The Rays may even have worse attendance numbers than the Sox
Buh bye
The location they were talking about moving the stadium to might not be good ground to put a stadium on. It used to be where the Chicago River was until they moved it. The land between Roosevelt and 18th Street west of Clark was filled in when they moved the river. “. Yes, the Chicago River was moved west between Polk and 18th Streets to make room for a railroad terminal. The river was straightened and moved about a quarter of a mile between 1927 and 1929. The South Branch of the Chicago River at 18th Street remains in its original location.”
It’s going to Nashville. Chicago can no longer support the Sox. Keeping the Cha projects next to the stadium has proven to be the worst social experiment.
I used to be a huge Sox fan and I hope the organization is sold off quickly, but then again, who care’s?
Jerry is a diabolical guy. He’s greedy and conniving. He will do whatever he can to make more money or get whatever he wants out of this ploy. Here’s my question to Jerry. Jerry, you’re 88 years old , how much money do you need when you die ?
I'm a Cubs fan, I live in 022, I take my kids to Sox Park a few times a year because they're more affordable and family friendly. There's absolutely NOTHING wrong with that stadium. We don't need the taxpayers to pay for a new stadium. The Oakland A's and Tampa Bay Ray's competes while playing in horrible ugly stadiums.
Ill help the Sox Pack if they leave.
It is a ploy. He will not sell the team. He paid $20M for a team that appreciate to $2B. That’s an enormous capital gain tax on his 19% ownership. Once he dies, his son Michael would inherit his portion and get a step up basis from the amount his father paid to the value of the stock at his death. His son could sell the stock which would then have a cost basis of $2B (on his 19% ownership though) and he would pay no capital gains tax. So why sell now and pay a big capital gains tax?
It’s a ploy. I read elsewhere that when Carl Pohlard was selling the Minnesota Twins, once a leak got out to the public, the Commissioner’s office and other owners already knew because they were briefed. Here, no one in baseball heard about this alleged sale. It’s a bogus leak to extort tax money from Chicago and Illinois to pay billions.
It’s a ploy. If Nashville was such a great market, the A’s, Rays or Marlins would have moved there. Each team has historically drawn only 7,000 to 15,000 per year while the Sox generally are at 25,000!!! Plus you have a larger TV market by large in Chicago. It’s a ploy to extort taxpayers dollars by then billions. Nashville can’t sustain the team like Chicago.
It’s a ploy. Dave Stewart is good friends with LaRusso who is friends with Reinsdork. He wants Illinois taxpayers to pay up!
Oakland can't support a team and its socialist mayor is almost as anti-business as Brandon. Nashville is a growing market with sane leadership.
Don't spend another tax dollar on them or the Bears. Let them go.Who cares?
Failing a move, the Sox should talk to the McCaskeys about taking some of the Arlington Heights land off their hands -- or getting a long-term lease on it. Would be a good way to keep a flag in the market, get away from the socialists in city hall, and preempt the Cubs in one of their prime markets all at once. Also, when the Bears finally shrug and give up on Conehead, the Sox could be part of a suburban sports mecca.
Nice post.
The rays don't have a stadium now. They moved up the list.
The stadium may be empty but the tickets are sold. That’s all that matters to Jerry.
Quincy Magoo Says:
I hope Elon Musk buys the White Sox, and then we will be in the World Series again within 2 years…
he wants to get out before they really find out how 2 fans were shot inside his park
A good business negotiation tactic. Last time he threatened this he was rewarded with a new ballpark.
I hope you are right.
Good point!
You do have to give Jerry credit. He knows how to play the system.
How about sell them, as in disband them? Who the hell watches sportsball anymore?
Fuck the Sox. I worked security at that park for that guy. Miserable job. 2 hours down I-90 just to have to pay city tax to park and then 5 hours on your feet watching that wretched game. I quit the fucking job.
Retired in Tennessee from Chicago South side, or what’s left of it anyways ! Was a huge Sox fan going back to the Comiskey park days ! Veecks wreaks, Harry Carry, and Mc’Cuddys tavern. Never should have torn that perfectly good baseball stadium down, and built that cold, unappealing monstrosity that they touted as not having blind spots in some seating areas as there were in the old stadium The upper deck that they later torn down was so high up you couldn’t see the plays down on the field ! Rinesdorf has destroyed the franchise with his insatiable greed, and now wants the taxpayers to pony up for another new stadium for his scrub team ! It ain’t gonna be here in Nashville Jagoff we don’t fucking want you, or need you’ s down here ! In short Go Fuck Yourselves !
white liberals who live their cushy suburbs far away from Chicago yet they always wear clothes with something Chicago on it and as they drive into and out of Chicago they say what a crappy city it is, yet they always tell people when they are out of state that they are "from Chicago"
So the Sox have a 2005 world series, the last 19 years a losing record and prior to the world series a 20 year losing record and they want tax payers to pitch in....BYE! Oh and let's not forget nothing in the neighborhood post game to keep fans around spending money in fact pre and post game the fans get robbed by all the surrounding projects.
Nashville Mayor sent Mr.R packing months ago when Mr. R courted him." Sure we would welcome a fully private financed stadium." That was the end of that.
The sox need to move to nashville and let the cubs have this sinking crap-hole city to themselves. Chitcago will be like a city from a third world country in 15-20yrs.
Called it weeks ago: Either it would be a selling proposition or a strategy for leveraging its denied new stadium! - 33 years later, considering its record losing season. Hey, if a Chicago team "Actually paid forth SERIOUS MONIES for SERIOUS TALENT" our continual losing streaks would not be the FOREVER NARRATIVE. Yep, talking to you Cubbies too. And the Bears????!!!!. BULLISH!!!??? Ya'll get an FU for not tapping in on your loyal CHICAGO fans. FOOLS!
i thought you parked at 3501
aww shucks,,,, another blm supporter wants to leave,,,,,,, bye bye
It’s already been tested ,for about 10 years 3 50x50’mounds 10 foot high were placed where the river used to be ,to test for subsistence .Did you know those 2 jackknife bridges faced west and were on Clark st.and were floated to the new location.
Upon a sale, the math is as follows - $2B recognized gain minus cost basis of $20M = almost a $2B realized gain! His ownership is 19% which means his realized gain will be $380M for his stock sale ($2B x 19% = $380M). The Federal Capital Gains Tax Rate is 23.9% plus the State of Illinois rate is 4.95% = 28.85% total in rates. So $380M x 28.85% = $109,630,000 in Capital Gains Taxes!!!! So about $110M in Capital Gains Taxes from approximately $380M in realized gains. If he dies without selling the team and his son sells the stock shortly after his death - the son gets the step up basis in the stock’s value … poof No Tax because the cost basis is roughly the same as the sale price, so no gain to tax! So … would you sell if you where him? It’s not like he needs the money now. Please check with your tax accountant if this rough estimate is accurate.
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