Report: Ishbia brothers bought stake in White Sox as Twins bid looms

Field Level Media|published: Mon 13th January, 14:37 2025

May 5, 2023; Phoenix, Arizona, USA; Phoenix Suns owner Mat Ishbia (right) and brother Justin Ishbia during the game against the Denver Nuggets in game three of the 2023 NBA playoffs at Footprint Center. Mandatory Credit: Mark J. Rebilas-Imagn Images

If Mat and Justin Ishbia want to purchase the Minnesota Twins, they'll first need to cut ties with one of the club's American League Central rivals.

The billionaire brothers bought a small stake in the Chicago White Sox back in 2021, Sportico reported Monday. That stake was not previously public knowledge, and according to MLB bylaws, they would have to sell it if they're able to buy the Twins.

Specifically, the Ishbias invested in a special purpose vehicle (SPV) organized by two adult children of White Sox owner Jerry Reinsdorf. They have a passive, non-governing role and a "mid-single-digit percentage" stake, according to Sportico.

Justin Ishbia, a private equity investor, has expressed interest in buying the Twins. He would lead the acquisition bid, Sportico reported, as opposed to Mat Isbhia, the CEO of United Wholesale Mortgage who became the majority owner of the NBA's Phoenix Suns and WNBA's Phoenix Mercury in 2023.

Justin Ishbia is a part-majority owner of the Suns and Mercury, as well as a minority owner of MLS club Nashville SC.

The Twins are currently owned by the Pohlad family, who brought on Allen & Company in October to help them explore a sale. The Athletic reported last week that the Pohlad family is confident it can "pick a winner" by Opening Day 2025.

--Field Level Media

Latest