Part-Owner of NHL and NBA Team Tries to Acquire 35% of Cleveland Guardians

Cleveland, OH- The Cleveland Guardians may be off the hook soon when it comes to stakeholders.

According to Sportico, David Blitzer may be the latest stakeholder in the team taking over primary ownership. He is in the works of closing a deal to acquire 35% of the Cleveland team. Though the deal is not set in stone, it is a complex process. He would need to obtain majority ownership over the Dolan family and John Sherman who is the current Kansas City Royals owner.

Blitzer is a part-owner of the NBA's Philadelphia 76ers and NHL's New Jersey Devils. He is currently the global head of Blackstone, firm management committee. He is also a partner in Harris Blitzer Sports and Entertainment and has his hands in multiple European soccer teams. If he did gain ownership of the Guardians, it wouldn't be his first time handling a multi-billion dollar business.

The Cleveland Guardians are worth $1.16 billion and will officially take the name Guardians in the beginning of 2022.

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