Jerry Reinsdorf, the Chicago White Sox and Bulls owner, has taken majority control of Stadium, the multiplatform sports network he helped create in 2017.

Industry sources have confirmed to Front Office Sports that Reinsdorf’s Silver Chalice sports media entity recently acquired a controlling stake in Stadium previously held by Sinclair Broadcast Group. Terms of the deal were not disclosed.

The equity move was precipitated in part by Sinclair’s own corporate issues, sources said. The company’s Diamond Sports Group, which owns and operates the Bally Sports regional sports networks, filed for bankruptcy protection in March and is continuing reorganization efforts.

Neither Silver Chalice nor Sinclair commented. 

But sources indicated further, large-scale moves are expected by Stadium in the new Reinsdorf-led structure. Those moves will be closely watched against the backdrop of the October 2024 expiration of the regional rights contract for the Bulls, White Sox, and Chicago Blackhawks with NBC Sports Chicago. 

Reinsdorf has previously explored starting his own network to varying degrees.

The Chicago-based Stadium – which operates out of the Bulls’ home arena the United Center – currently offers a series of live games, particularly within college sports, as well as highlights and studio programming. Key on-air personalities include basketball insiders Shams Charania and Jeff Goodman. It is available through a series of digital, cable, and over-the-air platforms.

Stadium was initially developed through a merger of assets from the former 120 Sports, Silver Chalice’s Campus Insiders, and Sinclair’s American Sports Network. Following this latest equity transfer, Stadium will continue to supply some programming to Sinclair-controlled outlets.

Who’s on deck?

With final approval of the Washington Commanders’ $6.05 billion sale to Josh Harris’ group expected to come soon and the Ottawa Senators narrowing down bids close to $1 billion for the NHL franchise, even more, pro teams will likely be changing hands in the near future.

In the NBA, Micheal Jordan has been exploring a sale of his majority stake in the Charlotte Hornets to one of his minority investors since March. 

Jordan reportedly would have rethought his intentions had the Hornets won the NBA Draft lottery. Charlotte landed the second pick, narrowly missing out on the chance to select French phenom Victor Wembanyama.

In MLB, the Washington Nationals were once up for sale, but the Lerner family has since taken the team off the market while dealing with issues around its MASN regional sports network. Ted Leonsis, who owns local counterparts the Capitals and Wizards, reportedly bid over $2 billion for the Nationals.

Internationally, Manchester United’s sale process drags on as the Glazer family may or may not follow through with a sale of the team, which will likely go for more than $6 billion.

Another NFL team to keep an eye on is the Seattle Seahawks. The future of the team has been up in the air since late owner Paul Allen’s death in 2018. Allen’s sister Jody is likely to sell the team in 2024. The Seahawks have recently been valued by Forbes at $4.5 billion.

Three NWSL teams are also on the market — the OL Reign, Chicago Red Stars, and Portland Timbers. A deal for the Red Stars could come sometime this spring.

The second Grand Slam on the tennis calendar is underway as the French Open looks to find a new identity this year without defending champion Rafael Nadal.

Men’s favorites Novak Djokovic and Carlos Alcaraz each won their first-round matches in straight sets at Roland Garros, while American Jessica Pegula, the No. 3 seed and daughter of Bills and Sabres owners Kim and Terry Pegula, easily advanced to the second round in the women’s draw.

But Nadal’s absence has been the biggest story as the Spaniard is missing the tournament because of a lingering hip issue after he won last year’s event for the 14th time.

“I always want to watch Rafa playing,” Alcaraz, the No. 1-ranked men’s player, said in the event’s lead-up. “Hopefully, we’ll see him next year that he’s 100%.”

“Him and Roland Garros is something special,” added American player Coco Gauff.

Nadal has said he is likely to retire in 2024 but is hopeful for one more run at the French Open and winning his 15th trophy in Paris.

Money Talks

Prize money for this year’s event has increased by more than 12% to $54.6 million. 

Former top-ranked men’s player and two-time French Open champion Jim Courier recently explained on the Front Office Sports Today podcast how pro tennis is striving for a healthier existence with top players helping lower-ranked competitors get paid more.

“Players like Federer and Djokovic and Nadal and Venus Williams [said] ‘We don’t need a check that’s $3 million this year to be $3.5 million next year.’ If it goes up to $3.1 million … and then first round prize money goes from $25,000 to $40,000, that’s a better use of that money,” Courier said.

Hawaii officials have shifted plans to renovate the aging Aloha Stadium in Honolulu, creating a new structure in which upgrades to the facility itself and development of an adjacent entertainment district will occur together.

A large-scale repair of the 48-year-old Aloha Stadium and creation of the district had previously been set to happen separately. But state politicians determined the split-project approach would have invited excessive cost overruns.

A public-private partnership will now focus on a single, integrated development, with $400 million in state funds already appropriated. The stadium itself is projected to cost less than $500 million.

“In the development world, the stadium was going to be the loss leader, it will be the crown jewel of the area, but it’s not the moneymaker,” said state senator Glenn Wakai to KHON-TV.

Aloha Stadium was the site of the NFL’s Pro Bowl in all but two years between 1980 and 2016, and also served as the longtime home of college football’s Hawaii Rainbow Warriors and hosted numerous bowl games. But since late 2020, the stadium has been closed due to a series of safety and pandemic-related issues.

A new Aloha Stadium – with a capacity roughly halved from its original 50,000 – is expected to be ready for the Rainbow Warriors’ 2028 football season.