O’Donnell: Now 89, Reinsdorf remains a two-toned tycoon
HISTORICALLY, THE BIRTHDAYS OF CHICAGO SPORTS MOGULS have seldom been a cause for massive civic celebration.
That would include a power line that stretches all the way back to such barons of the bottom line as Charles Comiskey, George Halas, Arthur Wirtz and even the comparatively fan-friendly father-son chewing-gum magnates William and Phillip K. Wrigley.
Jerry Reinsdorf turned 89 Tuesday. Presumably, all cards and candles were loving, sincere and far, far from the fan-maddening frustrations of the United Center and Rate Field.
NEXT WEEK WILL ALSO MARK the 40th anniversary of the day — March 7, 1985 — when Reinsdorf and investors assumed command of the Bulls. They purchased approximately 57% of the franchise for a reported $9.2 million.
That gave the basketball company a valuation of close to $16 million, including balls, lease to play at Chicago Stadium and an NBA franchise with a 22-year-old growth asset named Michael Jordan.
Today, those same Bulls are worth an estimated $5 billion.
THAT'S QUITE A RETURN ON INVESTMENT for any of the money people who have believed in and stayed with Reinsdorf since Day One.
As has been stated before, they should be required by corporate mandate to have at least one room in all of their mansions dedicated to sole use as a shrine to The Business Jerry Reinsdorf.
(Seven gongs would have to be sounded daily. That would represent one for each championship his Chicago teams have delivered in his 83 seasons of chairmanship — only one, the White Sox in 2005, without Jordan.)
BUT IT'S WHERE THE BUSINESSMAN disconnects with the mainstream fans of Chicago that continues to deflate.
At age 89 — 44 years after his consortium's purchase of the White Sox became official in the winter of 1980-81 — Reinsdorf treats those everyday people like one-winged flies.
They are no longer even a necessary irritant. They're just still there, circling the countertop. And the more pliable continue to pursue the utterly hollow routine of paying to be or professing to be “fans” of the two Leaky Tiki sports teams.
THE LINE OF DEMARCATION REMAINS between Reinsdorf the sports capitalist and Reinsdorf the sports operator.
The capitalist is genius. His latest golden monument will be the $7 billion development of the “campus” around the United Center — a joint project with the Wirtz family and their Blackhawks.
Reinsdorf the sports operator has lost. In learning his lessons well from the backhand Walter O'Malley gave Reinsdorf's beloved Brooklyn and the Dodgers for the greater riches of Los Angeles, Reinsdorf has become a shrewder, more facile Walter O'Malley.
AS URIAH HEEP SUGGESTED all those spinal taps ago, “Look at yourself.”
And it's Chicago — The Captive Sports City — that suffers the ongoing diminishment.
Jordan's Bulls should have won more championships — and would have under more savvy NBA management. The White Sox of 2024-25 have devolved below The Mendoza Punch Line. And those same Bulls will now forever labor under “The Curse of the Breakup” as long as Chair Jer' is around.
THE NATIONAL SPORTS DAILY WAS the grand media initiative headed by the mythic Frank Deford. It began its star-studded run in January 1990 and died 18 months later, a pre-internet victim of insurmountable circulation problems, according to the late Deford.
In the Dec. 4, 1990 issue, under the headline “Ways of Doing Things,” the brilliant attorney-turned-sports scribe Lester Munson presented one of the most precise profiles of the 720 degrees of Reinsdorf ever crafted. It's amazing in its resonance to the ways and means of today.
The subhead was: “Jerry Reinsdorf made a killing in real estate — and left some bodies behind. Now, as the owner of Chicago's Bulls and White Sox, he brings his methods to bear on the business of sports.”
THOSE METHODS HAVE MADE HIM and select business apostles even wealthier in the 34 years since, with more to come.
As for fans of the White Sox and the Bulls, they are one-winged flies on a bandwagon without wheels.
Still, all birthday cards and candles might have been possibly loving and somewhat sincere.
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A GOOD TIME WAS HAD BY MOST at DePaul University's tribute to Dave Corzine Saturday night.
Corzine's No. 40 was raised toward the rafters at Wintrust Arena with “honored” status, joining Terry Cummings (No. 32). Only those of George Mikan (No. 99) and Mark Aguirre (No. 24) — both once designated as National Player of the Year — have been retired.
The evening would have been complete for Corzine and the Wintrust-ing had Chris Holtmann's depleted Blue Demons managed to overcome a late Butler rally.
Instead, from a 70-69 advantage with 4:05 remaining, the Bulldogs whizzed through a 12-0 run to cap an 84-72 victory.
THE GATHERED INCLUDED some grand names from Corzine's collegiate past including Joe Ponsetto, Randy Ramsey, Andy Pancratz and Gary Wydra. Sister Sharon Wydra (Maine West '81), a juco All-American at Triton, also attended.
Pancratz also headlined the group from John Hersey High School. He was joined by Corzine stalwarts Gus Gustafson and Tom O'Connell, the forgotten point-maker from the Huskies' 84-81 loss at Prospect in the inaugural Mid-Suburban League crossover championship 54 years ago this week.
DOUG BRUNO, THE LONGTIME DEPAUL WOMEN'S COACH, looked hale and well. Ditto for energizing Jeanne Ponsetto, the former university athletic director who retired in 2020 after a 45-year association with the school.
Aguirre was a late scratch. Current A.D. DeWayne Peevy, executive associate Peter Tombasco and staff received high kudos for a crisp and touching event.
As tribute crept toward midnight at an adjacent Marriott, Corzine said, “My top two highlights tonight have been this honor and seeing so many great old friends. No. 3 will be getting home to bed.”
Jim O'Donnell's Sports and Media column appears each week on Sunday and Wednesday. Reach him at jimodonnelldh@yahoo.com. All communications may be considered for publication.