CLEVELAND, Ohio (WKBN) – The Cleveland Guardians have a new minority owner. David Blitzer, who has ownership shares in the Philadelphia 76ers and New Jersey Devils, has been approved by Major League Baseball.
MLB Commissioner Rob Manfred announced the approval on Thursday, and it is pending closing. The Guardians have not commented on the news.
He is the first person to have equity in all five major sports leagues including the NFL, NHL, NBA, MLS, and a handful of European soccer teams.
Blitzer will assume 25-30% ownership of the Guardians and will be able to potentially increase his ownership stake to a controlling interest in the future.
The Guardians are currently owned by Paul Dolan. He has been seeking a minority investor for more than a year after previous minority stakeholder John Sherman purchased the Kansas City Royals.