Do the White Sox have new minority ownership?

[turnin' two]

1 hour ago, Quin said:

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.

Well, that's awesome.  

[WBWSF]

5 hours ago, southsider2k5 said:

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

The present lease expires in 2028.

[caulfield12]

4 hours ago, WBWSF said:

The present lease expires in 2028.

"Let's apply a little 20/20 foresight to the late 2020s.

In the runup to 2029 and the end of the Chicago White Sox's current lease, people probably will be inured to calling the team's publicly funded home Guaranteed Rate Field.

They may barely notice the concessions affecting that lease's final years that the state agency that built and manages the stadium proudly claimed from the Sox in exchange for approving the new renaming rights deal.

The focus by then will have shifted away from the current home of the White Sox to zero in on the next home of the White Sox."

 

 

https://www.chicagotribune.com/business/ct-rosenthal-white-sox-guaranteed-rate-isfa-0828-biz-20160826-column.html

[tray]

I wonder if the IL Sports Authority or the White Sox ownership own the real estate surrounding GR field (primarily parking). The stadium itself would not be worth much without all of the parking North and South of 35th.. Ownership of  surrounding real estate would be a way to leverage a purchase of the stadium (it would not be worth much if anything without parking for it). You know, Reinsdorf is a real estate mogul.  If they add a bit more land, a new pro football stadium or basketball arena could be constructed that could use the same parking area. 

I am sure the Reinsdorfs have ideas for the short and long term. The things they have are golden and they are not going to let them go.  Its a family sports dynasty.

 

[Balta1701]

1 hour ago, tray said:

I wonder if the IL Sports Authority or the White Sox ownership own the real estate surrounding GR field (primarily parking). The stadium itself would not be worth much without all of the parking North and South of 35th.. Ownership of  surrounding real estate would be a way to leverage a purchase of the stadium (it would not be worth much if anything without parking for it). You know, Reinsdorf is a real estate mogul.  If they add a bit more land, a new pro football stadium or basketball arena could be constructed that could use the same parking area. 

I am sure the Reinsdorfs have ideas for the short and long term. The things they have are golden and they are not going to let them go.  Its a family sports dynasty.

 

The sports authority owns the lots but they are contractually obligated to the team for them. You would apparently need agreement from both sides to develop that one until the lease runs out. Probably why it won’t happen, the Reinsdorfs won’t give up the parking revenue and the Authority shouldn’t give up money they could get by developing that land in 2030.

https://chicago.suntimes.com/2021/4/5/22367754/white-sox-parking-lots-south-side-redevelopment-isfa-one-central-editorial

[CentralChamps21]

24 minutes ago, Balta1701 said:

The sports authority owns the lots but they are contractually obligated to the team for them. You would apparently need agreement from both sides to develop that one until the lease runs out. Probably why it won’t happen, the Reinsdorfs won’t give up the Peking revenue and the Authority shouldn’t give up money they could get by developing that land in 2030.

https://chicago.suntimes.com/2021/4/5/22367754/white-sox-parking-lots-south-side-redevelopment-isfa-one-central-editorial

I believe that is now called Beijing revenue.

[ThatBallHitDeep_WAYBack]

WhiteSoxDave was saying on RedLineRadio a few episodes ago he heard a rumor the next owner is set in stone but won't say who.  Also, that money will never be a problem with Free Agents.

[tray]

3 hours ago, Balta1701 said:

The sports authority owns the lots but they are contractually obligated to the team for them. You would apparently need agreement from both sides to develop that one until the lease runs out. Probably why it won’t happen, the Reinsdorfs won’t give up the parking revenue and the Authority shouldn’t give up money they could get by developing that land in 2030.

https://chicago.suntimes.com/2021/4/5/22367754/white-sox-parking-lots-south-side-redevelopment-isfa-one-central-editorial

The stadium and real estate  would be large liability without a sports franchise, specifically the White Sox, to play games at GR. and share parking revenue.

Meanwhile, the White Sox can develop plans to build a new stadium before the lease runs out. Good luck finding a new tenant for G Rate.

My guess is that something will be worked out one way or another well in advance of 2030 and that the White Sox will be in the cat bird seat with those negotiations.

 

[Quin]

1 hour ago, ThatBallHitDeep_WAYBack said:

WhiteSoxDave was saying on RedLineRadio a few episodes ago he heard a rumor the next owner is set in stone but won't say who.  Also, that money will never be a problem with Free Agents.

After seeing Michael Reinsdorf's revamp of the Bulls - I feel like this sentence could apply to him. GarPax to AKME was night-and-day different, especially with how they handled maneuvering the cap and the willingness to sacrifice so much future cheap talent in draft picks to make win now moves.

I'm not saying it's the correct course of action - but I also wouldn't be shocked.