From Failed Athlete to Sports Investing Billionaire: David Blitzer's Empire
David Blitzer, chairman at Blackstone's cross-asset investment group, reveals his unconventional path to becoming a leading figure in sports investment. His journey, as he describes it, began after a high school realization that his athletic career wouldn't advance beyond amateur status. This unexpected pivot led him to co-found Harris Blitzer Sports & Entertainment, amassing a portfolio that includes stakes in the Philadelphia 76ers, New Jersey Devils, Washington Commanders, Cleveland Guardians, and Real Salt Lake. Learn how Blitzer's unique perspective and expertise in corporate restructuring shaped his successful strategy in this dynamic and lucrative sector
David Blitzer, Blackstone chairman and sports investment pioneer, reveals his path from a "failed athlete" to a major league owner. In a recent Bloomberg's "The Deal" podcast interview, he candidly discusses his teenage athletic aspirations, admitting he was "adequate at best" and lacked the skills for a professional career. This early realization fueled his transition into the lucrative world of sports investing, where he now holds stakes in the Philadelphia 76ers, New Jersey Devils, Washington Commanders, Cleveland Guardians, and Real Salt Lake
Blackstone chairman and sports investment pioneer David Blitzer discusses his successful empire, encompassing stakes in the NBA's Philadelphia 76ers, NHL's New Jersey Devils, NFL's Washington Commanders, MLB's Cleveland Guardians, and MLS's Real Salt Lake. This media and entertainment dealmaking veteran shares his insights on the booming sports investment sector
David Blitzer, Blackstone chairman and sports investment pioneer, discusses his impressive sports empire on the Bloomberg podcast "The Deal." Hosts Alex Rodriguez and Jason Kelly interview Blitzer about his ownership stakes in the Philadelphia 76ers, New Jersey Devils, Washington Commanders, Cleveland Guardians, and Real Salt Lake, revealing the strategies behind his successful foray into this lucrative market segment
David Blitzer, billionaire and Blackstone chairman, is a leading figure in sports investment. As co-founder and managing partner of Harris Blitzer Sports & Entertainment (HBSE), he owns the Philadelphia 76ers (NBA) and New Jersey Devils (NHL). His impressive portfolio also includes stakes in the Washington Commanders (NFL), Cleveland Guardians (MLB), and Real Salt Lake (MLS), solidifying his position as a prominent sports team owner
Sports investing: a rewarding yet challenging journey. Billionaire David Blitzer, a pioneer in the field, reveals the fun, demanding, and ultimately difficult aspects of owning stakes in teams like the Philadelphia 76ers, New Jersey Devils, Washington Commanders, Cleveland Guardians, and Real Salt Lake. He describes the unique challenges and rewards of this exciting, high-stakes investment sector
Harris Blitzer Sports & Entertainment (HBSE) did not immediately respond to a Business Insider request for comment outside of normal business hours
David Blitzer's sports investment journey began in 2011 with a landmark acquisition: the $280 million purchase of the Philadelphia 76ers alongside Josh Harris, Apollo Global Management co-founder. This partnership marked the birth of Harris Blitzer Sports & Entertainment (HBSE), a powerhouse in the sports and entertainment industry
David Blitzer, a pioneer in sports investment, leveraged his extensive experience in corporate carve-outs and building high-performing management teams with innovative incentive structures—approaches previously unseen in the sports industry
Billionaire David Blitzer's sports investment strategy hinges on a simple yet powerful principle: supply and demand. With a limited number of professional sports teams and a growing pool of ultra-wealthy individuals and private equity firms vying for ownership, Blitzer's early investment thesis—and his continued success—rests on this fundamental economic reality
These content and media companies own some of the world's most valuable intellectual property (IP). In today's market, live content is arguably the most prized asset
David Blitzer: The first to own equity in all five major US men's sports leagues, offering advertisers unparalleled cross-sport reach through his strategically diversified portfolio
This year, Harris Blitzer Sports & Entertainment (HBSE) secured a major sponsorship deal with Campbell Soup Company, spanning its portfolio of teams including the Washington Commanders, Philadelphia Sixers, New Jersey Devils, and Joe Gibbs Racing
Blitzer's diversified sports portfolio, mirroring private equity strategies, enables cost-effective deployment of advanced technologies like AI and data analytics, maximizing returns across his investments in teams like the Philadelphia 76ers and New Jersey Devils
Beyond pro men's leagues, David Blitzer's strategic sports investments encompass a diverse portfolio, showcasing his innovative approach to the rapidly expanding sports and entertainment industry
Last year, Blitzer and Harris launched Unrivaled Sports, a company that specializes in youth sports. Blitzer also holds a stake in NWSL’s Utah Royals.
Even though Blitzer takes a strategic, portfolio approach to investing in sport, he points out that owning sports teams goes beyond crunching numbers.
He says his best advice for anyone investing in a sports franchise or a league is to go slow.
“Don’t do anything in your first season, like literally. Just learn. Just go around and meet everyone in the organization, watch what they do, how they do it. Do not come in and do big things in your first season,” he said, before adding: “By the way, no one has taken that advice.”
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