Reds sale speculation ignores one major problem with their ownership

MLB insider Bob Nightengale of USA Today got a certain segment of Cincinnati Reds fans excited over the holiday weekend. Nightengale reported on Monday that after last week's sale of the Los Angeles Angels to multi-billionaire Stan Kroenke, rival owners predict that the Cincinnati Reds could be the next Major League Baseball team sold.

For years, a growing contingent of Reds fans have been clamoring for Bob Castellini to sell the team. There've been t-shirts and even billboards with the slogan, "Sell the team, Bob." The Reds' return to relevancy in 2023 caused most of that sentiment to die off, but after a disappointing 2026 campaign, the demand for Castellini to sell will surely regain some traction.

Fan frustration is nearing an all-time high. The Reds haven't advanced in the postseason since 1995 — the longest active streak in professional sports — and the organization has enjoyed just seven winning seasons since Castellini took over in 2006.

Bob Castellini is no longer the Reds controlling owner

But there are some important details that get lost in the shuffle amid all this talk of selling the team. The first one being that Bob Castellini is no longer the controlling owner. Bob's son Phil Castellini took over as controlling owner and CEO in Feburary of this past year as part of a succession plan.

Furthermore, Castellini is not the sole owner of the franchise. When Bob Castellini (along with 18 other members of an investment group) bought 70% of the Reds organization from Carl Linder in 2006, the franchise was split into 27 shares, of which the Castellini's retained four. So while Castellini is the controlling owner, he's not the only one calling the shots.

Now, the Reds are far from the only team who has multiple owners. Clubs like the Los Angeles Dodgers and San Francisco Giants are headed by large consortiums and investment groups. Teams like the New York Yankees (Steinbrenner) and the Washington Nationals (Lerner) are owned by family groups. Then there are organizations like the Atlanta Braves and Toronto Blue Jays that are publicly traded companies.

Could the Reds be the next team to be sold? Sure. But the Castellini's would have to agree to put the team on the market and they'd need to find an individual or investment group with enough cash on hand (likely upwards of $1.5-$2 billion) to make the purchase.

Despite all the outside noise, there's been nothing to suggest that anyone within the Reds ownership group is looking to sell the team. The fallout from the upcoming labor negotiations, however, could greatly impact how the Reds plans to move forward.

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