Ishbia Out: Justin Ishbia No Longer Candidate to Purchase Twins

[Seth Stohs]

Billionaire Justin Ishbia is apparently increasing his minority ownership with the Chicago White Sox and is ending his pursuit of the Minnesota Twins.  

Image courtesy of © Jonah Hinebaugh/Naples Daily News/USA Today Network-Florida / USA TODAY NETWORK via Imagn Images

On the eve of the 2025 Minnesota Twins spring training opener, big news surfaced online. The news would presumably shock the Pohlad family, and it is likely to  be incredibly disappointing for Minnesota Twins fans. 

Justin Ishbia, the billionaire businessman and private investor, has notified the team that he will not continue to pursue ownership of the Minnesota Twins. 

Instead, Ishbia will be, according to The Athletic's Jon Greenberg, "buying more shares from other limited partners to increase his existing minority stake in the Chicago White Sox." The report also indicates that Ishbia may allowed to take control of the White Sox in the future by buying shares from long-time White Sox owner Jerry Reinsdorf. 

Twins ownership believed that the team would be sold before Opening Day. Now, the search for a new owner will continue. That said, reports over the last couple of months noted that there was a "robust market" for potential suitors. 

A source told Greenberg that while Ishbia was pursuing the Twins, the Reinsdorfs talked to him about increasing his share of the White Sox. Ishbia and his brother Mat (owner of the Phoenix Suns) had bought a minority stake in the White Sox four years ago. 

It is noteworthy that, at this time, Justin Ishbia has declined comment. 

For Twins fans, this news is crushing. When news came out at the Winter Meetings that the 47-year-old who lives just outside of Chicago was interested in buying the Twins, fans got excited. He and his brother spent immediately on improving the Phoenix Suns, famously taking ownership and OKing a trade to bring in All-Star Kevin Durant. Twins fans began to dream about having an owner who might push the budget envelope and allow Twins fans to dream. Tonight's news certainly darkens that optimism.

Then again, it is certain that the Pohlad family would like to sell, and they appear to be eager to sell quickly if a deal can be made. If there were other potential ownership groups snooping around in December and January, there certainly will be again in February and March. Unfortunately, it means that there will not be an ownership transfer by Opening Day. Maybe the All-Star break can be the next goal. 

And now, Twins fans have Reason #4,728 to hate the Chicago White Sox! 

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[Gamblerssoftball]

I just hollered out loud. My wife says,"what happened?" After a short pause, I  say,"nothin...nothing happened." 

[Vanimal46]

I guess we’re going to find out if there are “multiple bids” for the team. If it’s Glen Taylor then I’m taking a break being a fan of this organization. He’s going to drive the team into the ground. 

[bean5302]

Terrible news for Twins fans looking for a clean break and a totally new ownership philosophy. I get the feeling the Pohlads screwed this up.

[Swimbo]

Well that's a bummer. The Ishbias were exciting because they seemed different than most owners. I think they gave us hope of passionate owners who enjoyed the team as more than just a business. 

The big downside I think of is that if there are other groups / people who are interested, they are keeping everything hush hush. That feels like more of business decision by everyone involved and I don't want more of the Pohlad type.

 

I want an eccentric, outspoken owner who isnt afraid to shake things up and open their wallets for something. I want an owner who says, "I want this team and I want to win!"

 

Sure, anyone who has enough money to buy the Twins isnt going to just throw money away.  Hopefully, they'd see that our market is willing to spend our hard earned money on something, if they just do their part and put effort into putting something out there that is worth seeing.

 

[LastOnePicked]

Well, there went my last bit of interest in this year's club. Hard to imagine that a team can do much winning when your current owner wants out and a high-profile potential buyer makes it clear they don't want in.

[Jocko87]

57 minutes ago, bean5302 said:

I get the feeling the Pohlads screwed this up.

Why? Really, why?

The most obvious answer is right in front of your face. The guy with the current stake in the White Sox used another team for sale to get what he wanted all along. But but but pohlads.

He's never been the only guy, just the only public guy. Why? See above.

This is an interesting development but ultimately means nothing. Any rumors you got a month late about an opening day announcement probably had this in mind anyway.

Reports of "scrambling" in Twins land are highly suspect to me. Who is scrambled? Hayes says Ft Myers but guess what? I'll bet nobody that matters is in Ft Myers right now.

"Team officials" are not involved in this question. They might very well be surprised. 

This is news of one possible buyer not actually being a buyer. Don't read anything more into it.

[cheeseheadgophfan]

4 hours ago, Vanimal46 said:

I guess we’re going to find out if there are “multiple bids” for the team. If it’s Glen Taylor then I’m taking a break being a fan of this organization. He’s going to drive the team into the ground. 

Just asking......but why would that be so bad?  He'll have money from the sale of the Wolves.....spending wasn't the problem for the Wolves, bad management was.  He signed KG and let him bring in his boys (a big mistake).  He signed Joe Smith to a big deal (another mistake)....but spending money was not the problem.

[JBK]

What's the asking price?  

[mikelink45]

Just when ST was going to start giving us something positive we get the Twins downer!  Oh well, we have France, Coloume and Bader to keep us excited.  

[Mark G]

3 hours ago, cheeseheadgophfan said:

Just asking......but why would that be so bad?  He'll have money from the sale of the Wolves.....spending wasn't the problem for the Wolves, bad management was.  He signed KG and let him bring in his boys (a big mistake).  He signed Joe Smith to a big deal (another mistake)....but spending money was not the problem.

You are right, money was never the issue, bad management was.  My fear with GT is his age; he would be 84 by the time any sale would go through and who takes over if/when he dies or becomes unable?  How long before he has to turn over the reins, and to who (whom?)

 

[CRF]

If the Pohlad's and price/conditions/whatever, had something to do with this, I wouldn't be surprised. Just don't let Glen Taylor somehow weasel his way into this thing. 

[Original_JB]

Told you so...

 

• Posted January 30

I'm starting to think that all this quietness is in part that the Ishbias are waiting to see if the financing for the new White Sox stadium at "The 78" will be hammered out. As "mid single digit %" owners of the Sox, they would need to sell that before being allowed to buy the Twins; That said, the opportunity to buy the White Sox while a whole new development project is being built around the new stadium site (hmm, sound familiar?) would have to be appealing. Now, Chicago is broke, and getting the public financing is causing problems (again, sound familiar?), but when has that ever stopped a project from being pushed through? Obviously, the Twins would be a fabulous back-up plan... 

[Post-Concussive Blues]

Ishbia just didn’t like the Bader signing.

[Whitey333]

Very surprising development but at the same time not.  I'm sure these types of deals are complicated and take time and many twists.  I've never quite understood all the negativity around Glen Taylor.  He bought the team when it was ready to leave town.  He's been stable influence on the team.  I realize he has had his negativity.   I would question his age somewhat.  Does he have the drive to own the Twins?  Anyway I'm sure tge Twins will have an owner.  Who knows it may even be the Pohlads.

[big dog]

Once he saw that the Sox signed Clevinger, Gallo, and Michael A. Taylor he immediately thought "That's the kind of free agent aggressiveness I want to have". The Twins had no chance after those power moves.

[NYCTK]

[Russ]

Not a surprise, despite the current White Sox situation, it is a bigger market to buy into.

[Fatbat]

This makes sense from a business perspective. They used leverage to  get a bigger stake in a team they already invested in. There are plenty of other ownership groups looking to spend 1.6B to be in an exclusive club. 

[JD-TWINS]

8 hours ago, bean5302 said:

Terrible news for Twins fans looking for a clean break and a totally new ownership philosophy. I get the feeling the Pohlads screwed this up.

That, or the worst Team - arguably organization, in baseball, has shares available at a pretty depressed price. Much bigger market. Makes current investment in Chicago make more sense. Business shifts & there’s always 2 sides. That said, Pohlad’s very well could have screwed this up.

[old nurse]

When the Ishibas took over the Suns they were on the cusp of being a championship team. Now they are struggling to make the playoffs with a team of accumulating broken down players with bad contracts. I is not necessarily a bad thing they are looking to increase their stake in he White Sox 

[sun]

I didn't realize that the Ishiba brothers were Chisox investors to begin with. Was that ommitted from most of the media hype? 

Did floating the idea of buying the Twins allow him to get a better deal on buying more shares of the Chisox?

Maybe just using  interest in the Twins for leverage? Whatever it is, it is what it is.

[bustedstuff88]

Pohlads probably asking too much 

[Doctor Gast]

I'm disappointed, the Ishbia Bros. would have been wonderful owners. Pohlads have been bad owners because they don't care & have no idea how to run a baseball club. But to me, all that doesn't matter if they had someone in charge who did. Besides the pitching end, Falvey has no idea what he's doing, yet thinks he's a genius. As long as he has total control of the operational process of the team it doesn't matter who owns the team.

[JD-TWINS]

5 hours ago, cheeseheadgophfan said:

Just asking......but why would that be so bad?  He'll have money from the sale of the Wolves.....spending wasn't the problem for the Wolves, bad management was.  He signed KG and let him bring in his boys (a big mistake).  He signed Joe Smith to a big deal (another mistake)....but spending money was not the problem.

Also, he’s old and would want to WIN in the ownership game in Minnesota (show up A-Rod & Pohlad’s) & be a hero with Minnesotans. Not saying I want Taylor but seems he’d be short term motivated!

[jorgenswest]

You had to wonder why their interest was leaked so early in the process. I don’t see how the leak would benefit the Pohlads. It doesn’t benefit the Ishbia group unless they want to put leverage on the White Sox.

[sweetmusicviola16]

38 minutes ago, Doctor Gast said:

I'm disappointed, the Ishbia Bros. would have been wonderful owners. Pohlads have been bad owners because they don't care & have no idea how to run a baseball club. But to me, all that doesn't matter if they had someone in charge who did. Besides the pitching end, Falvey has no idea what he's doing, yet thinks he's a genius. As long as he has total control of the operational process of the team it doesn't matter who owns the team.

The bailing out by the Ishbia's may explain the moves of Falvey/Zoll over the last two weeks. The go ahead was given to do things the old fashioned Twins way so sign some washed up veterans since no new ownership anytime too soon.

[TheLeviathan]

The articles on The Athletic all seem to be dancing around some important truths about why this fell apart.  I hope the beat writers are digging furiously right now.

[Finlander]

Article says that Justin Ishbia lives just outside of Chicago. So this leverage moves makes plenty of sense from his standpoint.

[LambchoP]

Still holding out hope for a sale to go through sometime this year to an owner dedicated to regaining the trust and backing of MN fans. Someone who wants to actually win and is willing to spend more to get there. In a winnable division, another 30-50 million would go an awful long way. Imagine a lineup with Correa, Buxton, Lewis and someone like Guerrero/Alonzo or some other all star power hitting 1b.