Jerry Reinsdorf will have the option to sell his controlling interest in the Chicago White Sox to Justin Ishbia from 2029 to 2033.

The White Sox confirmed Thursday that they have reached a deal that will call for Ishbia, who's already owner of a small stake in the White Sox, to make new investments in the team in 2025 and 2026 to be used to pay down existing debt and support team operations.

Ishbia, a part-majority owner of the Phoenix Suns in the NBA, was believed to be a favorite to buy the Twins in 2024. He instead, however shifted his focus to the White Sox, where he and his brother were already minority owners.