Sixers co-owner David Blitzer officially joins Cleveland Guardians ownership

CLEVELAND, Ohio (92.3 The Fan) – Ownership succession of the Cleveland Guardians is now in place.

The team officially announced that David Blitzer has joined the club as minority owner.

Matt Kaulig of the Northeast Ohio based Kaulig Companies is also a member of Blitzer’s investment group in the team.

Major League Baseball approved the agreement earlier this month which gives Blitzer a 25-30% stake in the club with an ability to purchase the controlling interest in the coming years The Athletic reported.

“I am very excited about bringing on David Blitzer and his group as our partners," Paul Dolan, said Guardians owner, chairman and CEO, said. "David brings a wealth of experience in the sports industry that we believe will be a complementary addition to our organization. I look forward to collaborating with David for years to come to achieve our goal of winning a World Series.”

Blitzer is co-founder and co-managing general partner of Harris Blitzer Sports & Entertainment (HBSE) which includes stakes in the Philadelphia 76ers (NBA), New Jersey Devils (NHL), Crystal Palace (EPL), Real Salt Lake (MLS) and numerous international soccer clubs.

“I am thrilled to join the ownership group of the Cleveland Guardians, a storied Major League Baseball franchise with a loyal, engaged fanbase,” Blitzer said. “Our goal is to support Paul and the incredibly talented Guardians leadership team in delivering to Cleveland a team that can contend for a World Series. We also look forward to assisting the Guardians in their mission of using the platform of baseball to drive positive change in the communities our team serves. I thank Paul and the Dolan family, as well as our partners in this investment, for this amazing opportunity.”

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Blitzer replaces former minority owner and current owner of the Royals John Sherman, who paid $1 billion for the Kansas City ballclub.

The Dolans bought the team, now valued at $1.3 billion according to Forbes, from Dick Jacobs for $323 million in 1999.

In addition to renaming the club, a charter member of the American League founded in 1901, Dolan ensured the franchise will remain in northeast Ohio by extending the lease at Progressive Field through at least 2036.

The ballpark, which opened in 1994, will undergo a $435 million makeover to be completed by opening day 2025 beginning this fall.