Jerry Reinsdorf

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Born
1936 (89 years old)
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New York City, U.S.

Position
Owner

Status
Coaching

Ethnicity
White

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Sport

Basketball

Team
Chicago Bulls

League
NBA

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Description

Jerry Michael Reinsdorf (born February 25, 1936) is an American sports executive and businessman who is the owner of the NBA's Chicago Bulls and MLB's Chicago White Sox. He started his professional life as a tax attorney with the Internal Revenue Service. He has been the owner of the White Sox and Bulls for nearly 40 years. As of May 2024, his net worth was estimated at US$2.2 billion.

He made his initial fortune in real estate, taking advantage of the Frank Lyon Co. v. United States decision by the United States Supreme Court, which allowed economic owners of realty to sell property and lease it back, while transferring the tax deduction for depreciation to the title owner.

As the owner and chairman of the Chicago Bulls since 1985, he oversaw a turnaround in the franchise's fortunes, culminating in six NBA Championships in the 1990s (1991–1993 and 1996–1998). He is controversial for his involvement (along with Jerry Krause) in breaking up the championship team by not hiring back Phil Jackson. He signed Michael Jordan as a baseball player during his sabbatical from basketball. He also moved the Bulls from Chicago Stadium to the United Center.

After Reinsdorf's purchase of the White Sox in 1981, the franchise made the playoffs in 1983 for the first time since 1959, and won the World Series for the first time since 1917 in 2005, the only year during his tenure as owner in which the White Sox have won a playoff series. Reinsdorf moved the White Sox from Comiskey Park to New Comiskey Park in 1991 (now known as Rate Field). In both sporting endeavors, he has developed a reputation as an anti-labor union hardliner. Since the early 1990s, he has been considered one of the most influential basketball owners. He has been influential in instituting the salary cap and revenue sharing. On April 4, 2016, Reinsdorf was elected to the Naismith Memorial Basketball Hall of Fame as a contributor.

In 2024, Reinsdorf's White Sox lost a modern MLB record 121 games, which led to recently increased criticism of Reinsdorf.

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