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Monday, December 20, 2021

David Blitzer reportedly close to purchasing a share of the Cleveland Guardians

David Blitzer, part owner of the Philadelphia 76ers and New Jersey Devils, is nearing a deal to purchase about 35% of the Cleveland Guardians, according to a report in Sportico, a sports-business publication.

The deal would include a pathway to majority ownership for Blitzer. Guardians owner Paul Dolan has been looking for a minority owner since John Sherman put his shares of the team in escrow to purchase the Kansas City Royals in November of 2019.

The Guardians, according to Forbes Magazine, is worth $1.16 billion. The Dolans purchased the francise in November of 1999 for an estimated $323 million.

Sherman purchased a share of the then Cleveland Indians on Aug. 19, 2016. When Sherman purchased the Royals, his share of the ballclub was put in escrow. In July, when the Indians were renamed the Guardians, Dolan said that Sherman and he were working together to find a new minority owner.

RoyalsRetro (AG#1F) Posted: December 20, 2021 at 02:30 PM | 0 comment(s) Login to Bookmark
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