David Blitzer Approved as Guardians Minority Owner, Has Stake in All 5 Major SportsJune 16, 2022
Major League Baseball has approved David Blitzer as a new minority owner of the Cleveland Guardians, according to multiple reports.
The Athletic's Zack Meisel reports that the 52-year-old New York-based businessman is "expected to initially own 25 to 30 percent of the team, with an eventual pathway to majority ownership."
Blitzer also has minority stakes in the New Jersey Devils, Philadelphia 76ers, Pittsburgh Steelers and Real Salt Lake. Thursday's deal makes him the first individual ever to own equity in all five major sports leagues in the United States. Blitzer also owns stakes in six overseas soccer teams.
Per ESPN, MLB Commissioner Rob Manfred announced the approval of the sale on Thursday, though he didn't mention Blitzer specifically.
"We did approve a sale of a minority interest in the Guardians, pending the closing," Manfred said. "Really excited about the change there."
The opening for a stake in the Guardians occurred when former minority investor John Sherman purchased the Kansas City Royals in 2019. According to Meisel, Guardians owner Paul Dolan had enlisted the help of investment firm Allen & Co. to help identify a potential partner. Dolan confirmed in December that he was engaged in "meaningful discussions" with Blitzer.
Cleveland is second in the American League Central this season with a 31-27 record. In March, Forbes valued the Guardians at $1.3 billion, which ranked 24th in the majors.