Jerry Reinsdorf facts for kids
Quick facts for kids
Jerry Reinsdorf
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Reinsdorf in 2011
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| Born |
Jerry Michael Reinsdorf
February 25, 1936 New York City, U.S.
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| Education | George Washington University (BA) Northwestern University (JD) |
| Known for | Owner of Chicago Bulls and Chicago White Sox |
| Spouse(s) |
Martyl Rifkin
(m. 1956; died 2021) |
| Children | 4 |
| Awards |
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Jerry Michael Reinsdorf, born on February 25, 1936, is an American businessman and sports leader. He is best known as the owner of two major sports teams: the NBA's Chicago Bulls and MLB's Chicago White Sox. He has owned both teams for over 40 years.
Reinsdorf first made his money in real estate. He became the owner and chairman of the Chicago Bulls in 1985. Under his leadership, the Bulls became incredibly successful, winning six NBA Championships in the 1990s. He also moved the Bulls from Chicago Stadium to the United Center.
After buying the White Sox in 1981, the team reached the playoffs in 1983 for the first time in many years. In 2005, the White Sox won the World Series for the first time since 1917. Reinsdorf also moved the White Sox from Comiskey Park to a new stadium, now called Rate Field. He was elected to the Naismith Memorial Basketball Hall of Fame in 2016 for his contributions to basketball.
Contents
Early Life and Education
Jerry Reinsdorf was born in Brooklyn, New York. He went to Erasmus Hall High School in Brooklyn. His father was a salesman. A memorable moment from his childhood was being in the stands when Jackie Robinson played his first game for the Brooklyn Dodgers, breaking the color barrier in Major League Baseball.
Reinsdorf earned a bachelor's degree from George Washington University in Washington, D.C. He later moved to Chicago in 1957. He became a certified public accountant (CPA) and a lawyer. He also received a scholarship to attend Northwestern University School of Law.
Starting His Business Career
After finishing law school in 1960, Reinsdorf worked as a lawyer for the IRS (Internal Revenue Service). One of his first cases involved the tax issues of Bill Veeck, who owned the White Sox at the time. In 1964, Reinsdorf started his own private law practice.
He became an expert in real estate partnerships. In 1973, he sold his real estate business interests and started a company called Balcor. This company raised a lot of money to invest in buildings being constructed. He sold Balcor in 1982.
Becoming a Sports Owner
Buying the Teams
By 1981, Jerry Reinsdorf had enough money to buy the Chicago White Sox for $19 million. Soon after, he signed popular players like Greg Luzinski and Carlton Fisk. He also greatly increased the team's marketing efforts and added more scouts. By the 1983 Major League Baseball season, the White Sox had the best record in the Major Leagues and made the playoffs.
In 1985, he bought the Chicago Bulls basketball team for $16 million. This was a big step for the team. Before Reinsdorf, the Bulls were managed by a group of owners who made decisions by voting. Reinsdorf's purchase changed this, giving the team a clear leader.
Building Championship Teams
The Bulls had drafted Michael Jordan the year before Reinsdorf bought the team. With Jordan leading the way, the team quickly became very popular and successful. The Bulls also drafted other talented players like Horace Grant and Scottie Pippen. They traded for Bill Cartwright and had John Paxson.
In 1989, Phil Jackson became the team's head coach. Jackson was a key part of the Bulls' amazing success. The team went on to win six NBA championships in eight seasons, from 1991 to 1998. Before Reinsdorf's purchase, the Bulls often had many empty seats at their games. But from 1987 until Jordan's retirement in 1998, the Bulls sold out every single game, first at Chicago Stadium and then at the United Center.
White Sox Success
Under Reinsdorf, the White Sox won their division in 1983, 1993, 2000, 2005, 2008, and 2021. Their biggest achievement was winning the 2005 World Series. This made Reinsdorf one of only a few owners in North American sports history to win championships in two different sports.
After Michael Jordan decided to try playing baseball, Reinsdorf signed him to a minor league contract with the White Sox. This was a big news story at the time.
Stadiums and Influence
Reinsdorf faced challenges with the old Comiskey Park, the White Sox's home stadium, which had many seats with blocked views. He even considered moving the team out of Chicago. However, with help from Chicago's mayor and the Illinois governor, a new stadium was built. New Comiskey Park (now called Rate Field) opened in 1991.
Reinsdorf and Chicago Blackhawks owner William Wirtz also helped fund the construction of the United Center, the large arena where both the Bulls and Blackhawks play. When it opened in 1994, all the luxury suites were quickly rented out.
Reinsdorf has been a very powerful owner in baseball. He played a role in important decisions, such as the sale of the Texas Rangers and the Seattle Mariners. He was also influential in the departure of Fay Vincent as the Commissioner of Baseball in 1992. Reinsdorf has been a strong supporter of ideas like the salary cap and revenue sharing in sports, which help teams share money more equally.
The End of the Bulls Dynasty
Some fans and writers believe that Reinsdorf's decisions led to the breakup of the championship Bulls team after their sixth title. They felt the team could have won more championships with Michael Jordan, Scottie Pippen, and coach Phil Jackson. However, Jackson decided not to return as coach, and Jordan retired during the 1998-99 NBA season. These events led to many players leaving the team.
Phoenix Coyotes Bid
Reinsdorf also tried to buy the Phoenix Coyotes hockey team. He was one of the bidders who promised not to move the team from Phoenix. While he was approved for ownership at one point, the deal did not go through. The Coyotes were eventually sold to another group of investors.
Legacy in Sports
Reinsdorf is known for helping establish Major League Baseball Advanced Media (BAM) in 2000. This allowed all MLB teams to share equally in the money earned from internet rights. He also helped secure a large naming rights deal for the White Sox stadium, which funded major upgrades to the park.
He also won a legal battle with other NBA owners, allowing the Chicago Bulls to continue broadcasting many games on WGN-TV. This helped the Bulls remain one of the most profitable teams in the NBA for many years.
Reinsdorf believes that if the players' union had agreed to steroid testing earlier, baseball could have addressed steroid use much sooner. He thinks this delay might prevent some players from being elected into the National Baseball Hall of Fame.
In 2024, the White Sox team had a very difficult season, losing a record number of games. This led to increased criticism of Reinsdorf's ownership.
Awards and Honors
Sports Ownership
- Six-time NBA champion (with the Bulls)
- 2005 World Series champion (with the White Sox)
Halls of Fame
- Naismith Memorial Basketball Hall of Fame (Class of 2016)
- Appleton, Wisconsin Baseball Hall of Fame (Class of 2006)
Other Awards
- 1990 Golden Plate Award of the American Academy of Achievement
- 2011 Jefferson Award for Public Service
Charity Work
Jerry Reinsdorf has been involved in many charitable activities. He supported Chicago Mayor Richard M. Daley's efforts to improve test scores in Chicago Public Schools. He is also involved with CharitaBulls and White Sox Charities, which are the charitable organizations of his teams. His charity work has especially helped the Near West Side community near the United Center. White Sox Charities has also donated to the Chicago Park District to help build and maintain baseball and softball fields.
Other Business Activities
Reinsdorf has served on the boards of directors for many companies and charities, including Shearson Lehman Brothers and LaSalle Bank. He is also a Life Trustee of Northwestern University.
He has been very active in baseball's affairs, serving on various committees for Major League Baseball. He also serves on the boards of MLB Advanced Media and MLB Enterprises. In 2013, Reinsdorf helped found a company called Global Security and Innovative Strategies.
Personal Life
In 1956, Jerry Reinsdorf married Martyl Rifkin while they were both students at George Washington University. Martyl was born in Denver, Colorado, and her family moved to Chicago in 1944. She passed away in 2021. They had four children: Susan, David, Michael, and Jonathan.
See also
In Spanish: Jerry Reinsdorf para niños
- List of NBA team owners
- List of National Basketball Association team presidents
