David Blitzer

For the economist, see David M. Blitzer.
David Blitzer
Born
David Scott Blitzer

(1969-09-07) September 7, 1969 (age 55)
Scotch Plains, New Jersey, U.S.
EducationWharton School (BS, 1991)
Occupations
EmployerBlackstone (1991–present)
Organizations
Known forFirst to own team equity in the five major sports leagues of North America (NBA, NHL, NFL, MLS, MLB)
Title
Board member of
SpouseAllison Ross
Children5

David Scott Blitzer (born September 7, 1969) is an American investor and sports team owner. He is the chairman of the private equity firm Blackstone and managing partner of the NHL's New Jersey Devils and NBA's Philadelphia 76ers. Blitzer also manages several association football clubs under Global Football Holdings, owns 25% of the MLB's Cleveland Guardians, and is a limited partner of the NFL's Washington Commanders, making him the first person to own team equity in the five major sports leagues of North America.

Blitzer graduated from Penn's Wharton School and joined Blackstone in 1991, where he served as the firm's global head of tactical opportunities from 2012 until transitioning to chairman in 2024. He and Apollo Global Management co-founder Josh Harris are frequent partners, with the pair entering sports business in 2011 and establishing Harris Blitzer Sports & Entertainment in 2017. Blitzer's net worth is estimated to be $2 billion.

Career

Early life and Blackstone

Blitzer was born on September 7, 1969, in Scotch Plains, New Jersey. He graduated from Scotch Plains-Fanwood High School in 1987 and graduated magna cum laude from the Wharton School of the University of Pennsylvania in 1991.[1] Blitzer joined the private equity firm Blackstone shortly after graduation and worked out of London from 2001 to 2011 to oversee the company's interests in Europe.[2] He is a member of their management committee and headed their global Tactical Opportunities group from 2012 until stepping down and becoming chairman in November 2024.[3][4]

Sports management

See also: Josh Harris (businessman) and Harris Blitzer Sports & Entertainment
Blitzer is co-managing partner of the Philadelphia 76ers (above, blue) and principal managing partner of the New Jersey Devils (below).

Blitzer began contemplating investing in sports after meeting Apollo Global Management co-founder Josh Harris in 2008 at The Punchbowl, a pub in London.[5] By 2011, those talks led to the pair forming an investment group that purchased the Philadelphia 76ers of the National Basketball Association (NBA) for $280 million.[6][7] Other initial members of the group included Art Wrubel, Jason Levien, Adam Aron, Martin Geller, David Heller, James Lassiter, Marc Leder, Michael Rubin, Will Smith, Jada Pinkett Smith, and Erick Thohir.[8][9] In August 2013, Blitzer and Harris purchased the New Jersey Devils of the National Hockey League (NHL) and their arena, the Prudential Center, for $320 million.[10] Blitzer and investor David Abrams headed a group that owned 50% of the Scranton/Wilkes-Barre RailRiders, the Triple-A affiliate of the New York Yankees, from 2014 until selling to Diamond Baseball Holdings in 2021.[11][12]

Blitzer co-founded Harris Blitzer Sports & Entertainment with Harris in 2017. In addition to the 76ers and Devils, the company also owns the NBA G League's Delaware Blue Coats, the American Hockey League's Utica Comets, esports team Dignitas of New Meta Entertainment,[13][14] HBSE Real Estate, sports tech venture capital firm HBSE Ventures,[15] and marketing, hospitality, and event ticketing company Elevate Sports Ventures.[16] In January 2022, Blitzer and Qualtrics co-founder Ryan Smith purchased Real Salt Lake of Major League Soccer (MLS) and America First Field, which included the affiliated Real Monarchs and Zions Bank Stadium.[17][18] The pair also reestablished the Utah Royals of the National Women's Soccer League (NWSL), which had gone defunct in 2020 and became the Kansas City Current.[19] He purchased a 25 percent stake in the MLB's Cleveland Guardians in June 2022, with an option to acquire controlling interest in 2028.[20][21] Blitzer is the first person to hold team equity in the five major sports leagues of North America: the NBA, NHL, NFL, MLS, and MLB.[22]

Blitzer purchased an 18% stake in the English football club Crystal Palace in 2015.[23][24] He later formed Global Football Holdings, which has invested in G.D. Estoril Praia (Portugal),[25] AD Alcorcón (Spain),[26] S.K. Beveren (Belgium),[27] FC Augsburg (Germany),[28] ADO Den Haag (Netherlands),[25] and Brøndby IF (Denmark).[29] In 2020, Blitzer and Harris bought a $140 million stake in the Pittsburgh Steelers of the National Football League (NFL).[30] In 2023, he was a part of another group led by Harris that purchased the NFL's Washington Commanders for $6.05 billion, the highest price ever for a sports team.[31][32] The same year, Blitzer invested in the return of SlamBall, a basketball league combining elements of other sports,[33] and bought a minority stake in Joe Gibbs Racing by way of HBSE in 2023.[34] He was named to the NHL's Executive Committee in October 2023, which is responsible for vetting new ownership applications, collective bargaining, and league expansion.[35] Blitzer and professional golfer Tiger Woods are owners of the Jupiter Links Golf Club of the virtual golf league TGL, founded in 2023.[36]

In 2024, he sold his stake in the Steelers to Art Rooney II and Thomas Tull.[37] Blitzer is a member of College Sports Tomorrow, a group formed in 2024 consisting of 20 pro team owners, league executives, and college administrators proposing an overhaul to college football, including abolishing conferences and reorganizing Power Five schools in seven divisions of ten each with a system of promotion and relegation for the rest, in addition to changes to NIL deals and the transfer portal.[38] Blitzer and Harris have also invested in youth sports brands, forming Unrivaled Sports as a parent company in March 2024 with capital from The Chernin Group.[39][40]

Properties

Teams managed under Harris Blitzer Sports & Entertainment
Team League Year Notes
Philadelphia 76ers National Basketball Association 2011 Managing partner with Josh Harris. Includes the Delaware Blue Coats of the NBA G League.
New Jersey Devils National Hockey League 2013 Managing partner with Josh Harris. Includes the Prudential Center and the Utica Comets of the American Hockey League.
Joe Gibbs Racing NASCAR 2023 Limited partner with Josh Harris
Teams managed under Global Football Holdings
Team League Year Notes
G.D. Estoril Praia Primeira Liga 2019 Owner
AD Alcorcón Segunda División Owner
S.K. Beveren Challenger Pro League 2020 Co-owner with Jahm Najafi and Jeff Moorad
FC Augsburg Bundesliga 2021 Co-owner with Klaus Hofmann; 45% stake
ADO Den Haag Eerste Divisie Owner
Brøndby IF Danish Superliga 2022 Owner (50.1%)
Independently owned
Team League Year Notes
Scranton/Wilkes-Barre RailRiders International League 2014 50% stake with David Abrams. Sold to Diamond Baseball Holdings in 2021.
Crystal Palace F.C. Premier League 2015 General partner with Steve Parish, John Textor, and Josh Harris; 18% stake
Real Salt Lake Major League Soccer 2022 Co-owner with Ryan Smith. Includes America First Field, Zions Bank Stadium, and the Real Monarchs of MLS Next Pro.
Cleveland Guardians Major League Baseball Limited partner; 25% stake with the option to become majority owner in 2028
Utah Royals National Women's Soccer League 2023 Co-owner with Ryan Smith
Washington Commanders National Football League Limited partner under Josh Harris
Jupiter Links Golf Club TGL Co-owner with Tiger Woods

Personal life

Blitzer is Jewish.[41] He is married to Allison (née Ross) Blitzer; they have five children.[42] His net worth was estimated by Forbes in November 2023 to be $2.2 billion.[43] Blitzer's father-in-law, Stuart Ross, who once owned the North American rights to The Smurfs franchise, was convicted of extortion in 2010 and sentenced to five years of probation after trying to extort $11 million from Blitzer.[44][45]

Blitzer founded the Blitzer Family Foundation in 2014.[1] He is on the board of trustees of Mount Sinai Health System and Wharton School and is a donor to Hillel International, an organization helping Jewish students.[46] He participated in sports business panels hosted by the Wharton School in 2019 and Sportico in 2022.[47][48]

References

  1. ^ a b Mooney, John (December 9, 2018). "NJ Devils Co-Owner David Blitzer Will Return to Scotch Plains-Fanwood High School for Hall of Fame Induction". TAPinto Springfield. Archived from the original on August 11, 2019. Retrieved August 11, 2019.
  2. ^ Stonebrook, Ian (January 30, 2022). "How David Blitzer Built it". boardroom.tv. Archived from the original on May 7, 2023. Retrieved May 7, 2023.
  3. ^ Smagalla, David (December 27, 2017). "In Their Own Words With Blackstone Group's David Blitzer". The Wall Street Journal. Archived from the original on August 12, 2019. Retrieved August 12, 2019.
  4. ^ Lim, Dawn (November 5, 2024). "A New Boss Is Taking Over at Blackstone's $37 Billion Tac Opps Arm". Bloomberg. Retrieved November 20, 2024.
  5. ^ Shelburne, Ramona (September 26, 2023). "Why the Commanders' $6 billion bidding war was one Josh Harris had to win". ESPN. Archived from the original on September 29, 2023. Retrieved September 30, 2023.
  6. ^ "Sale of 76ers to Joshua Harris finished". ESPN.com. July 13, 2011. Archived from the original on June 1, 2016. Retrieved March 28, 2023.
  7. ^ "76ers officially sold to new owners". ABC13. October 18, 2011. Archived from the original on March 28, 2023. Retrieved March 28, 2023.
  8. ^ Fagan, Kate (August 2, 2011). "Those who know him say Joshua Harris, soon-to-be Sixers owner, lives for competition and success". Inquirer.com. Archived from the original on March 25, 2023. Retrieved March 25, 2023.
  9. ^ "Group led by Joshua Harris completes purchase of Sixers - 10/18/2011". NBA.com. October 18, 2011. Archived from the original on October 18, 2013. Retrieved March 28, 2023.
  10. ^ "Devils announce sale of team to billionaire Josh Harris". The Star-Ledger. August 15, 2013. Archived from the original on February 6, 2019. Retrieved August 22, 2013.
  11. ^ "RailRiders Unveil Members of Local Ownership". Scranton/Wilkes-Barre RailRiders. February 25, 2015. Archived from the original on August 11, 2019. Retrieved August 11, 2019.
  12. ^ "RailRiders Join Newly Formed Organization Diamond Baseball Holdings". milb.com. Archived from the original on June 19, 2023. Retrieved June 19, 2023.
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  17. ^ "David Blitzer & Smith Entertainment Group to Purchase Real Salt Lake". rsl.com. January 5, 2022. Archived from the original on February 3, 2022. Retrieved February 1, 2022.
  18. ^ McDonald, Ryan (January 6, 2022). "How the deal for Ryan Smith, David Blitzer to buy Real Salt Lake came together". Deseret News. Archived from the original on March 3, 2022. Retrieved March 2, 2022.
  19. ^ Gonzalez, Roger (March 12, 2023). "Utah Royals FC to return to NWSL under David Blitzer and Ryan Smith as owners; club will begin playing in 2024". CBS Sports. Archived from the original on July 30, 2023. Retrieved July 30, 2023.
  20. ^ "Blitzer purchases 25% stake in Guardians". MLB.com. Archived from the original on June 27, 2022. Retrieved June 27, 2022.
  21. ^ Noga, Joe (June 27, 2022). "Cleveland Guardians reach agreement with David Blitzer-led investment group for minority stake in club". Cleveland.com. Archived from the original on June 27, 2022. Retrieved June 27, 2022.
  22. ^ Novy-Williams, Eben (June 16, 2022). "David Blitzer Nears U.S. Sports Milestone as MLB OKs Guardians Deal". Yahoo Sports. Archived from the original on May 7, 2023. Retrieved May 7, 2023.
  23. ^ "Sixers owner Josh Harris buys into Crystal Palace soccer club". NBC Sports Philadelphia. December 19, 2015. Archived from the original on August 2, 2020. Retrieved June 28, 2020.
  24. ^ "Crystal Palace: Deal agreed with US investors Harris and Blitzer". BBC Sport. December 18, 2015. Archived from the original on June 24, 2020. Retrieved June 28, 2020.
  25. ^ a b Novy-Williams, Eben (June 16, 2022). "David Blitzer Nears U.S. Sports Milestone as MLB OKs Guardians Deal". Sportico. Archived from the original on February 22, 2023. Retrieved December 3, 2023.
  26. ^ "David Blitzer-Led Group Acquires Spanish Soccer Club Alcorcón". Sports Business Journal. June 11, 2019. Archived from the original on May 7, 2023. Retrieved May 7, 2023.
  27. ^ Kunti, Samindra (September 14, 2020). "US investors Bolt, take leap into Belgian football with Waasland-Beveren buy". Inside World Football. Archived from the original on May 7, 2023. Retrieved May 7, 2023.
  28. ^ Veth, Manuel. "Ricardo Pepi And Real Salt Lake: David Blitzer Is Making Headlines As A Soccer Investor". Forbes. Archived from the original on May 7, 2023. Retrieved May 7, 2023.
  29. ^ Hackett, Tom (November 15, 2022). "David Blitzer Adds Danish Club To European Portfolio". kslsports.com. Archived from the original on May 7, 2023. Retrieved May 7, 2023.
  30. ^ Kostroun, Bill (June 15, 2020). "Sixers owners Josh Harris and David Blitzer purchase stake in Pittsburgh Steelers". The Philadelphia Inquirer. Archived from the original on April 4, 2023. Retrieved April 4, 2023.
  31. ^ Maske, Mark; Jhabvala, Nicki (July 20, 2023). "NFL owners approve sale of Commanders from Daniel Snyder to Josh Harris". The Washington Post. Archived from the original on July 20, 2023. Retrieved July 21, 2023.
  32. ^ Jhabvala, Nicki (July 20, 2023). "The Commanders sale was so complicated, it was 'like 20 deals in one'". The Washington Post. Archived from the original on September 9, 2023. Retrieved July 23, 2023.
  33. ^ Rizzo, Lillian (March 21, 2023). "SlamBall, which combines basketball and football with trampolines, snags big investors". CNBC. Archived from the original on April 20, 2023. Retrieved May 21, 2023.
  34. ^ Stern, Adam (June 20, 2023). "Joe Gibbs Racing sells minority stake to Josh Harris, HBSE". Sports Business Journal. Archived from the original on June 21, 2023. Retrieved June 21, 2023.
  35. ^ Nichols, James (October 5, 2023). "Report: Devils Owner Joins NHL's Executive Committee". Yardbarker. Archived from the original on October 6, 2023. Retrieved October 7, 2023.
  36. ^ Zak, Sean (November 7, 2023). "Tiger Woods now has his own TGL team. Here's what we know". Golf.com. Archived from the original on November 11, 2023. Retrieved November 11, 2023.
  37. ^ Tan, Gillian (February 27, 2024). "Harris and Blitzer Near Steelers Stake Sale to Art Rooney, Tull". Bloomberg News. Retrieved May 23, 2024.
  38. ^ Libit, Daniel; Novy-Williams, Eben (April 16, 2024). "College Football 'Super League' Pitch Deck Details Breakaway Plan". Sportico. Retrieved April 17, 2024.
  39. ^ Badenhausen, Kurt (March 27, 2024). "Harris, Blitzer Launch Youth Sports Firm Unrivaled as TCG Invests". Sportico. Archived from the original on March 27, 2024. Retrieved March 27, 2024.
  40. ^ Jackson, Eric (December 29, 2023). "Harris, Blitzer Take $10M HOF Village Stake in Youth Sports Push". Sportico. Archived from the original on January 8, 2024. Retrieved January 8, 2024.
  41. ^ Keene, Louis (May 10, 2023). "Why the yeshiva world is rooting against the Philadelphia 76ers this week". Forward. Archived from the original on July 29, 2023. Retrieved September 9, 2023.
  42. ^ "Meet Our Speakers: Josh Harris and David Blitzer". Jewish Federation of Greater Philadelphia. June 14, 2017. Archived from the original on May 8, 2021. Retrieved July 1, 2021.
  43. ^ "David Blitzer - Forbes". Forbes. Archived from the original on April 15, 2023. Retrieved November 11, 2023.
  44. ^ Rothfield, Michael. Wall Street Journal: "New Tack in Extortion Case - Blackstone Executive Now Being Sued by His Father-in-Law's Former Attorney" Archived March 8, 2017, at the Wayback Machine, The Wall Street Journal, September 3, 2011
  45. ^ Bloomberg: "Father-in-Law of Blackstone Director Blitzer Faces July 26 Extortion Trial" By Karen Freifeld Archived July 6, 2014, at the Wayback Machine June 7, 2010
  46. ^ Wilkinson, Julia (June 20, 2022). "Billionaire David Blitzer Set a Major Sports Milestone". Entrepreneur.com. Archived from the original on July 8, 2023. Retrieved July 8, 2023.
  47. ^ Skibeli, Isa (November 3, 2019). "Wharton Sports Business Summit to feature speakers, panels, and a case competition". The Daily Pennsylvanian. Archived from the original on February 7, 2023. Retrieved July 9, 2023.
  48. ^ Sportico (November 9, 2022). "The media rights themselves will just continue to grow." - David Blitzer, Michele Kang, Angie Long (video). YouTube. Archived from the original on July 9, 2023. Retrieved July 9, 2023.