Guardians find new minority owner

[BimboColesHair]

Blitzer would also reportedly acquire shares from John Sherman, who purchased a controlling stake in the Kansas City Royals in 2019 and is forbidden to continue retaining shares in other MLB clubs.

Blitzer and Apollo Global Management executive Josh Harris were rumored to be considering a bid for the New York Mets before billionaire hedge fund manager Steve Cohen purchased the team last winter.

It's Sherman's shares plus whatever gets him to what the Dolan's expected Sherman to own at this time had he never bought the Royals.

Sherman had a hair over 29% when he bought KC in 2019. I expect the final numbers to be a shade under 35% or a shade over 35% with a 5-6 year increase that has him majority owner before the decade is over.

 

[BimboColesHair]

One last thing to note:

Blitzer/his investment group is one of many that would have overlooked this opportunity without the name change/rebranding.

 

[Kevalier]

@1:23 "We're not meddlers... put the best people in charge and let them do their jobs."

 

[Kevalier]

Perhaps my optimism may turned out to be unwarranted, but I almost feel that the Blitzer news makes a Jose Ramirez extension likely now.

 

[CATS44]

For those who expect that Blitzer buying in means an automatic continuation of on field success, or even an instant improvement...

A quick glance at what the 76ers have done since he became involved may absolve you of that notion.

A look at what the Devils have done since he became involved may cause you heartburn, if not sheer panic. The Devils may be the worst run franchise in the NHL.

 

[avs2000]

For those who expect that Blitzer buying in means an automatic continuation of on field success, or even an instant improvement...

A quick glance at what the 76ers have done since he became involved may absolve you of that notion.

A look at what the Devils have done since he became involved may cause you heartburn, if not sheer panic. The Devils may be the worst run franchise in the NHL.

He will own 35% according to reports. He will not be making many decisions

 

[Ohio]

For those who expect that Blitzer buying in means an automatic continuation of on field success, or even an instant improvement...

A quick glance at what the 76ers have done since he became involved may absolve you of that notion.

A look at what the Devils have done since he became involved may cause you heartburn, if not sheer panic. The Devils may be the worst run franchise in the NHL.

As a minority owner, all he can really do is provide additional funding. That's all we need anyways.

 

[33Y0]

 

[CATS44]

I'm just saying that the record of the major sports franchises he has invested in should tend to lower expectations.

And, any investment comes with the ability to make decisions on how those investments get spent. Dolan will not be able to acquire additional investments from Blitzer without Blitzers consent.

In a recent Atlantic article on the Padres, it was noted that owner Peter Seidler would have to get a green light from his minority partners if he wants to significantly raise payroll.

 

[CATS44]

This is certainly exciting news, but expectations of vastly increased payroll should be tempered.

 

[33Y0]

This is certainly exciting news, but expectations of vastly increased payroll should be tempered.

I bet you're fun at parties.

 

[Criznit]

I guess my expectation that they'd extend Jose, Bieber, Civale and Franmil 10 years a piece while signing Bryant and Correa was a bit foolhardy...

Thanks for the check..

 

[xmasbuck]

I'm picturing Joel Embid in left and Ben Simmons behind the plate

 

[BimboColesHair]

I'm picturing Joel Embid in left and Ben Simmons behind the plate

"Runner is breaking to 2nd, here's the throw from Simmons"

 

[Steve_424]

Some random tidbits I've found on Blitzer:

He has donated to both poitical parties but supported Biden over Trump in 2020

Inside the political donation history of wealthy sports owners

American professional sports owners have contributed nearly $47 million in federal elections since 2015.

www.espn.com

He worked undercover in a sting operation that led to the arrest in 2008 of his father-in-law for attempted extortion

New Twist in Extortion Case

A bizarre legal drama involving a leading private-equity financier at Blackstone Group has taken a new twist: he has been named in a civil lawsuit by an 82-year-old attorney who represented his father-in-law.

www.wsj.com