Josh Harris and David Blitzer, the billionaire managing partners of the National Basketball Association’s Philadelphia 76ers and National Hockey League’s New Jersey Devils, acquired a minority stake in the Pittsburgh Steelers early this year.
Initially reported by Bloomberg, Harris and Blitzer bought a stake of “less than five per cent” in the National Football League team, with the deal closing in January. Forbes recently valued the Steelers at $2.8bn, indicating that the duo paid around $140m for their stake in the franchise.
Harris and Blitzer will reportedly be passive investors and have no input on operations in the Steelers, who are controlled by the Rooney family. In addition, the investment is a personal one for the pair and not part of Harris Blitzer Sports and Entertainment (HBSE), which operates the 76ers, Devils, and a host of other sports properties.
The duo also recently emerged as new suitors for Major League Baseball’s New York Mets.
The Mets, currently controlled by the Wilpon family, have been back on the market since a previous deal to sell to hedge fund billionaire and current team minority owner Steve Cohen fell apart earlier this year.