Guardians new minority partner Blitzer's net worth 21st among MLB owners | Jeff Schudel
Jun. 18—David Blitzer, who on June 16 became minority owner in the Cleveland Guardians, has a net worth of $1.3 billion, according to a report last month from haqexpress.com.
Blitzer, 52, was born in New Jersey. He and his wife, Allison, have five children. Blitzer graduated from the University of Pennsylvania (Browns head coach Kevin Stefanski's alma mater) magna cum laude in 1991. He became a billionaire as a private equity investor.
Blitzer has his fingers in many sports pies. He and his business partner, Josh Harris, are majority shareholders of the New Jersey Devils of the NHL and Philadelphia 76ers of the NBA. Blitzer has minority ownership in the NFL Pittsburgh Steelers, Crystal Palace F.C. of the English Premier League and FC Augsburg of the Bundesliga and Waasland-Beveren of the Belgian Jupiler Pro League. Blitzer and another business partner purchased Real Salt Lake of Major League Soccer in January.
It might be worrying for nothing, but it seems to me Blitzer is spreading himself thin with ownership in so many sports teams. Will he be wary about spending money on the Guardians if one of his other ventures falters?
The arrangement to purchase 25 percent of the Guardians allows Blitzer to gain controlling interest of team in 2028.
Forbes reported the Guardians made an operating profit in the range of 'mid-to-high seven figures' range in 2021.
Fans criticize Paul Dolan for not spending more money on player salaries. But it is worth noting his Cleveland roots make him proud to own the Guardians. Dolan has been searching for a minority owner since John Sherman had to vacate that role in 2019 when Sherman bought the Kansas City Royals.
Blitzer's roots are in New Jersey, but there is no danger of Blitzer moving the Guardians out of town if he does eventually get majority ownership — at least not in the next 14 years.
The Guardians in January extended the lease at Progressive Field until at least 2036 with the potential to add 10 more years to the agreement. The lease extension is tied to a promise to make more than $200 million in stadium renovations over the next 15 years.
—Blitzer's net worth of $1.3 billion beats any sports writer I know. But it will not put him in the inner circle of baseball's wealthiest owners. In fact, it would put him in the bottom third. So don't expect him to spend wildly if he does gain control.
According to statista.com, Jim Crane, owner of the Houston Astros, also has a net worth of $1.3 billion. That ranks 21st among the league's 30 owners.
Sherman was a hero in Cleveland when he became a minority owner of the Indians in 2016. His money helped them sign Edwin Encarnacion to a three-year, $60 million contract on Dec. 22, 2016 — less than two months after they lost Game 7 of the World Series to the Chicago Cubs.
Sherman has a net worth of $1.25 million, putting him in the same financial buggy as Blitzer.
Sherman's Royals are in last place in the A.L. Central Division. The Royals rank 23rd in team payroll. The Guardians rank 28th.
Larry Dolan, Paul's father, is named owner of the Guardians by statistics.com. His net worth is listed as $4.6 billion. The only owners with a higher net worth are Steven A. Cohen of the Mets at $16 billion, Edward S. Rogers of the Blue Jays at 11.5 billion and John C. Malone of the Atlanta Braves at $6.6 billion.
