Major League Baseball has approved David Blitzer, a private equity investor, to be the new part owner of the Cleveland Guardians today.
Tom Withers of the Associated Press reports the minority share Blitzer has purchased is 25-30 percent of the ream with the right to take control of the team in the next five to six seasons.
Blitzer, is a part of the Harris Blitzer Group, a sports and entertainment company which owns the Philadelphia 76ers, New Jersey Devils, Real Salt Lake and a part of Crystal Palace FC, in the English Premier League among other teams and clubs.
Anthony Lima, host of the Ken Carman Show with Anthony Lima, reports the deal was finalized after the Harris Blitzer Group were unable to outbid the Walton-Penner Group for the Denver Broncos.
The Broncos were sold to the Walton Penner Group for an NFL record $4.65 billion earlier this week, according to multiple reports.
The Dolan Family purchased the Guardians in 2000 for $320 million from Richard Jacobs. The team has been appraised by Forbes Magazine for $1.3 billion as of March 2022.
The Guardians are 31-27 this season and are sitting in second place in the AL Central.