Blitzer, co-owner and investor of several sports franchises, is set to take over ownership of RSL.
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Real Salt Lake has finally found a new ownership group in Harris Blitzer Sports & Entertainment, led by David Blitzer and Josh Harris.
But who is Blitzer, and where are his other financial events? Here are seven facts about RSL’s new ownership group.
1. He is the global head of tactical opportunity at Blackstone Group, an investment firm with hundreds of billions of dollars tied to real estate, private equity, credit, insurance, etc. His net worth is estimated at $1.3 billion.
2. He is the co-managing partner of Harris Blitzer Sports & Entertainment, which owns several sports teams, including the Philadelphia 76ers and the New Jersey Devils. 76ers was the first sports brand that HBSE bought, doing so in 2011 for $280 million. The team is now worth $2.45 billion, each Forbes.
3. Arctos Sports Partners will hold a small portion of RSL under Blitzer. The Dallas and New York-based private equity firm has been a leader in sports investing since its founding in 2019. The company prides itself on its website as a partner. “with owners and tournaments to increase liquidity and financial flexibility for ownership pools.” Some of the more than a dozen teams it holds a stake in include the NBA’s Golden State Warriors and Sacramento Kings, Liverpool FC and, as of December 31, the NHL’s Tampa Bay Lightning.
4. He and his wife, Allison Ross, founded the Blitzer Family Foundation. Its mission is to promote youth development through education, sport and health.
5. He lived in London for 10 years where he became passionate about the sport of football. He first thought about buying a Championship team and trying to get that team promoted to the Premier League. An anonymous source in a Forbes article 2015 said Blitzer and Harris got into football as a means of getting to know the London landscape so they could eventually get an NFL team there. He now owns Bolt Football Holdings, which has investments in several football clubs around the world, including Premier League’s Crystal Palace and Belgium’s Waasland-Beveren.
6. He reported try to sell Crystal Palace in 2019, just a few years after he and two other investors bought it. However, that changed when John Textor was reported to have bought into the club and about 18% its last August.
7. He is reportedly close to reaching an agreement to buy a 35% minority stake in Cleveland Guardians of Major League Baseball, each Sportico. He and his partner Josh Harris were interested in buying the New York Mets in 2020, per Reuters. Blitzer told Bloomberg last year that he was interested in investing in sports teams because of their growing popularity and the value of their media rights.
“Everybody realizes that these are great businesses, in terms of content creation and the ultimate value of media rights,” says Blitzer.
8. Him and Harris bought less than 5% shares at the Pittsburgh Steelers in 2020, according to Bloomberg. According to reports, they paid about $140 million for that part of the team.
9. He graduated with honors from the Wharton School of Business at the University of Pennsylvania in 1991.
10. He said on Thursday that he was a “really good” soccer player in high school. He graduated from Scotch Plains-Fanwood High School in 1987 and was inducted into the Hall of Fame in December 2018.
https://www.sltrib.com/sports/rsl/2022/01/06/things-know-about-about/ 10 things to know about David Blitzer, the new owner of Real Salt Lake