Sixers co-managing partner David Blitzer is reportedly nearing a deal for a minority stake in Major League Baseball's Cleveland Guardians franchise.
The deal would give Blitzer roughly 35% ownership of the Guardians, according to a new report Monday from Sportico, and would also "include a path to control" for Blitzer.
Blitzer, who purchased the Sixers in 2011 along with David Rubin, Joshua Harris and other members of the investment group, also co-owns the New Jersey Devils and multiple European soccer clubs.
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Here are more details on the potential deal, including where Blitzer's shares would come from, via reporting from Sportico's Eben Novy-Williams and Scott Soshnick:
"David Blitzer, part-owner of the Philadelphia 76ers and New Jersey Devils, is nearing a deal to acquire a significant minority stake in the Cleveland Guardians, according to multiple people familiar with the negotiations.
"Blitzer is in talks to purchase about 35% of the MLB franchise, according to the people, who were granted anonymity because the talks are private. The deal also includes a path to control for Blitzer, who would eventually take over from the Dolan family, the team's current principal owners.
NBA
"It is a complex negotiation that includes equity from at least two pieces - the Dolans and current Kansas City Royals owner John Sherman - and talks could still fall apart, the people said. Blitzer didn't immediately respond to a message seeking comment. A representative for the team also didn't respond to a voice message and email."
The idea that the deal could "still fall apart" certainly feels noteworthy, but it would seem both sides have made significant progress in talks if these kinds of details have emerged.
When Forbes released its annual valuations of baseball franchises in March 2021, the Guardians - still called the Indians at the time - were valued at $1.116 billion, No. 25 out of 30 franchises in Major League Baseball. For reference, the Phillies came in at No. 8 and were valued at just over $2 billion.
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Blitzer, 52, and Harris previously attempted to land an MLB franchise when the New York Mets were for sale in 2020. Steve Cohen eventually purchased the Mets for roughly $2.4 billion. The New York Post reported at the time that Blitzer had a net worth of $1.3 billion and Forbes reported at the time that Harris had a net worth of $5 billion.