CHICAGO (WNDU) - The Chicago White Sox announced some pretty big news today, as the team has confirmed that owner Jerry Reinsdorf is planning on selling the team.

According to multiple reports , the deal is to sell the team to billionaire private equity Investor Justin Ishbia. This is considered a long-term agreement where Ishbia could take over the team as soon as 2029 or as late as 2034.

In the meantime, Ishbia will make some capital infusions to the team this year and next.

Reisdorf, who is also principal owner of the NBA’s Chicago Bulls, bought the White Sox back in 1981.

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