The Cleveland Guardians appear close to getting a new minority owner.
David Blitzer, who has part ownership stake in the New Jersey Devils, Philadelphia 76ers and professional European soccer teams, is close to an agreement to own 35% of the Guardians, according to a Sportico report.
The deal would include a path to control for Blitzer and eventually take over from the Dolan family within the next five to six years, per Audacy's Jon Heyman.
Heyman added that while current owner Larry Dolan is well respected, he does not have the money to support a competitive MLB team.
Paul Dolan, the Guardians chairman and CEO, confirmed there have been discussions to 92.3 The Fan but would not divulge further.
“While I can confirm meaningful discussions with David Blitzer about purchasing a minority ownership interest in the Cleveland Guardians, we can’t comment any further," he said.
The deal is not yet done, however, and talks could still fall apart as the negotiation is complex and includes equity from the Dolans and Royals owner John Sherman, who is also a Guardians minority owner.
Sportico valued the Guardians at $1.375 billion, which ranks 21st among the 30 MLB teams.
In addition to his ownership stakes in various sports teams, Blitzer is the global head of Blackstone’s tactical opportunities group and member of the firm’s management committee.
In July 2020, Yahoo! Finance estimated Blitzer’s net worth as $1 billion.
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