CLEVELAND (WJW)– Cleveland Guardians chairman and CEO Paul Dolan said they are in talks with David Blitzer about buying a minority stake in the team.

On Monday, multiple outlets reported Blitzer is close to acquiring 35% of the club.

“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,” Dolan said in a statement on Monday.

Blitzer is a minority owner of the NHL’s New Jersey Devils, the NBA’s Philadelphia 76ers and the Premier League’s Crystal Palace.

The Guardians are worth an estimated $1.16 billion. The Dolans bought the team in 1999 for about $323 million.