Justin Ishbia, the billionaire financier who had approached several former Twins players to be minority partners in a much-rumored effort to buy the Twins, will instead increase his minority stake in the White Sox, according to news reports on Friday.
Ishbia, co-owner of the NBA’s Phoenix Suns with his older brother Mat, has owned a small percentage of the White Sox for several years, and has said publicly his ambition is to become the majority owner of an MLB team. Bloomberg News reported in December that Ishbia was investigating the Twins with the intention of making an offer.
But the Ishbias live in Chicago, where their private-equity company, Shore Capital Partners, is based, so a purchase of the White Sox would seemingly have more appeal. The White Sox are not currently for sale, but majority owner Jerry Reinsdorf, who purchased the team in 1981, will turn 89 on Tuesday.
Reinsdorf has given his blessing to Ishbia’s plan to buy out other minority partners, The New York Times reported Friday, but the team denied that any longterm agreement has been reached to give the brothers a controlling interest.
For the Twins, Ishbia’s decision removes one potential bidder from process, which the Pohlad family, which has owned the Twins since 1984, initiated in October. The franchise is believed to be worth at least $1.5 billion, but no other potential bidders have been publicly identified.
The Twins beat Atlanta 3-1 in their exhibition opening game Saturday at Hammond Stadium.
Luke Keaschall had a two-run single in the sixth to make a winner of Louie Varland. Zebby Matthews started and pitched two scoreless innings.
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