Jerry M. Reinsdorf (born February 25, 1936) is a CPA, lawyer and an owner of the NBA's Chicago Bulls and the MLB's Chicago White Sox. He started his professional life as a tax attorney with the Internal Revenue Service. He has been the head of the White Sox and Bulls for over 25 years.
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 has turned the franchise into a lucrative business that won 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 key personnel such as Phil Jackson and Michael Jordan. He hired Jordan as a baseball player during his sabbatical from basketball. He also moved the Bulls from Chicago Stadium to the United Center...
Quotes by Jerry Reinsdorf
More Quotes by Jerry Reinsdorf