• Loading stock data...
Sunday, November 24, 2024

76ers and Devils Owner to Buy Real Salt Lake

  • Real Salt Lake of Major League Soccer is being sold to David Blitzer.
  • Blitzer owns a large suite of teams including the 76ers and Devils.
Real-Salt-Lake
Kelvin Kuo-USA TODAY Sports/Design: Alex Brooks

Philadelphia 76ers and New Jersey Devils co-owner David Blitzer has a deal in place to add another team to his portfolio: Major League Soccer’s Real Salt Lake.

Blitzer will become the controlling owner of the club in a deal that also includes the Real Monarchs, which will join MLS’ coming lower-division league MLS NEXT Pro in 2022, and Rio Tinto stadium. 

Arctos Sports Partners, which recently became the first private equity investor with stakes in NHL teams, is also involved in the transaction.

The deal will put Blitzer in rare territory among sports owners. In addition to the Devils and 76ers, Blitzer has equity in:

  • The Pittsburgh Steelers
  • The Premier League’s Crystal Palace
  • Bundesliga’s FC Augsburg
  • The New York Yankees’ triple-A affiliate Scranton Wilkes-Barre RailRiders
  • The Belgian Jupiler Pro League’s Waasland-Beveren

He is also nearing the purchase of a 35% stake in MLB’s Cleveland Guardians.

The Hot MLS Market

With soccer growing in the U.S., which is set to host the World Cup in 2026, MLS teams have been hot commodities as of late. 

The Houston Dynamo and the NWSL’s Houston Dash were sold to Ted Segal for an estimated $400 million in May 2020, and the Wilf family, owners of the Minnesota Vikings, bought Orlando City SC, the Orlando Pride, and their stadium for between $400 million and $450 million.

The league is seeking around $300 million annually in its next media rights deal.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 9, 2024; Fort Lauderdale, Florida, USA; Inter Miami CF head coach Gerardo Martino reacts in the second half against the Atlanta United FC in a 2024 MLS Cup Playoffs Round One match at Chase Stadium.

Messi’s Inter Miami Coach Quits After Best Regular MLS Season Ever

Gerardo “Tata” Martino has been with Miami for about as long as Messi.
Nov 18, 2024; Miami, Florida, USA; Philadelphia 76ers center Joel Embiid (21) looks on against the Miami Heat during the third quarter at Kaseya Center.

Will NBA Flex Last-Place Sixers From National TV Games?

Philadelphia is 2–11, tied for last in the NBA.
Vanderbilt Commodores quarterback Diego Pavia (2) throws the ball as Auburn Tigers take on Vanderbilt Commodores at Jordan-Hare Stadium in Auburn, Ala., on Saturday, Nov. 2, 2024. Vanderbilt Commodores defeated Auburn Tigers 17-7.

Vandy QB Pavia Sues NCAA for 2 More Years of Eligibility

Diego Pavia beat Alabama. Can he beat the NCAA’s eligibility rules?

Embiid’s Clash With Reporter Sparks NBA Probe, Concerns for Sixers

The former NBA Most Valuable Player angrily confronts and shoves a local columnist.
podcast thumbnail mobile
Front Office Sports Today

How Conference Expansion Has Changed College Football

0:00

Featured Today

Can an Elite Women’s Soccer School Survive the New College Sports Moneyball?

Santa Clara faces an uphill battle in the new college sports landscape.
Nov 16, 2024; Washington, District of Columbia, USA; Washington Spirit forward Trinity Rodman (2) celebrates after defeating NJ/NY Gotham FC in a 2024 NWSL Playoffs semifinal match at Audi Field. Mandatory Credit:
November 22, 2024

The Washington Spirit’s Business Makeover Carried Them to the Finals

The team’s return to the NWSL championship looks a lot different from 2021.
Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.
November 21, 2024

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up
November 18, 2024

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.
September 18, 2024

Rogers Tightens Grip on Canadian Sports With $3.46B MLSE Stake

The Blue Jays owner makes a big move to corner most of the Toronto pro sports market.
Fans watch TV screens during a game viewing party for fans at the FanDuel Sportsbook at Meadowlands Racing & Entertainment in East Rutherford, New Jersey.
September 18, 2024

FanDuel Parent Buys Italian Gambling Company in Bid for Growth

Flutter is making big moves in Italy and Brazil.