Jerry Reinsdorf Expects Nine-Figure Loss From Sports Shutdown

The sports shutdown has “dealt a tremendous financial hit” to White Sox and Bulls Chair Jerry Reinsdorf, who “hasn’t calculated the exact losses but says they ‘are in the nine figures,’” according to Bob Nightengale of USA TODAY. Reinsdorf, who also owns United Center, said, “The two teams and the stadium all have expenses. None have income. That’s a bad business model. The Bulls got to play 75% of the season, so the losses aren’t bad. … But the baseball losses are tremendous.’’ Nightengale notes the White Sox are “one of the few MLB teams who have yet to impose salary cuts or furloughs,” but Reinsdorf “fears that day is coming.” Meanwhile, the pandemic is “imposing a powerful threat to next year’s finances.” Reinsdorf: “I’m very worried about next year. I don’t know how much money we are going to lose. There are just so many unknowns” (USA TODAY, 7/15).