Latest news with #TheDeal
Business Insider
11 hours ago
- Business
- Business Insider
How a Blackstone exec built a sports investing empire
David Blitzer's interest in sports investing began after he became, in his own words, a "failed athlete." "I thought I was good when I was, you know, like a teenager. Then I realized by high school that I was adequate at best and certainly was not playing past high school," he said in a Thursday episode of the Bloomberg podcast "The Deal." The billionaire, who is a chairman at Blackstone's cross-asset investment group, made a name for himself as a pioneer in sports investing — a now-hot segment of the media and entertainment dealmaking world. On the podcast, Blitzer sat down with hosts Alex Rodriguez and Jason Kelly to talk about the empire of team ownerships he has built. Blitzer is the cofounder and managing partner of Harris Blitzer Sports and Entertainment, which owns the NBA's Philadelphia 76ers and the NHL's New Jersey Devils. He also holds stakes in the NFL's Washington Commanders, the MLB's Cleveland Guardians, and the MLS's Real Salt Lake. "Being an investor in any of these teams and leagues is fun, it's rewarding, it's challenging, it's really difficult," he said. Harris Blitzer Sports and Entertainment did not immediately respond to a request for additional comment from Business Insider sent outside regular business hours. Why Blizter is betting on sports Blitzer's first sports investment was with Josh Harris, the cofounder of Apollo, in 2011 when they acquired the Philadelphia 76ers for $280 million. Together, they founded Harris Blitzer Sports & Entertainment. "We had a lot of experience in corporate carve-outs. We had a lot of experience in bringing in new management teams and thinking about incentive structures in ways that I don't really think sports had had really done in the past," Blitzer said. The early thesis for investing is the same one he has now: supply and demand, he said. There are a set number of sports teams, and more ultrawealthy people and newer entrants, like private equity firms, want to buy them. "These are content and media businesses, and they have some of the best IP in the world. And frankly, in today's world, when you think about live content, there's probably nothing more valuable." He's the first person to own equity in all five of the major men's sports leagues in the US. His portfolio is strategically broad, he said, so he can offer wide, cross-sport reach for advertisers. Earlier this year, for example, they did a deal with Campbell's — the soup company — across the Commanders, the Sixers, the Devils, and Joe Gibbs Racing. As with private equity portfolio companies, the scale of Blitzer's portfolio also allows the company to better spread the cost of cutting-edge tools, such as AI and data analytics, he said. Blitzer is also betting on sports outside pro men's leagues. 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. Blitzer's advice to would-be sports owners 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."
Bloomberg
a day ago
- Business
- Bloomberg
How David Blitzer's Blackstone Playbook Helped Him Conquer Sports
David Blitzer is one of private equity's biggest sports fans. He also was one of the first to figure out the massive investment potential in sports business—since it looks a lot like the deals he's learned to do while working for decades at Blackstone Group. When he got into business with Apollo co-founder Josh Harris, he found a kindred dealmaker. 'We had a lot of experience in corporate carve-outs,' Blitzer says on the latest episode of The Deal with Alex Rodriguez and Jason Kelly. 'We had a lot of experience in bringing in new management teams and thinking about incentive structures in ways that I don't really think sports had really done.'
USA Today
2 days ago
- Sport
- USA Today
Magic Johnson says his Olympic gold medal means more to him than his NBA five titles
Magic Johnson says his Olympic gold medal means more to him than his NBA five titles Needless to say, Magic Johnson is one of the most accomplished basketball players and athletes of all time. In 13 NBA seasons, he led the Los Angeles Lakers to five world championships, and he also won an Olympic gold medal in 1992. Before he attained all that success, he also won a state championship in high school and an NCAA title at Michigan State University. One would think that his most cherished basketball accomplishment would be beating his rival and friend Larry Bird, the Boston Celtics legend, in the NBA Finals. But during an episode of "The Deal" podcast, he said he values his gold medal more than his NBA titles or college championship for one specific reason. 'I think the gold medal, because of this, I finally got the chance to play with Michael [Jordan] and Larry,' Johnson said. 'On my bucket list, I've always wanted to just throw a pass to both of those guys. Like a no-look pass, like coming down the middle. I'm coming down, and there's Larry in the corner, just no-look him real fast and let him shoot that beautiful jump shot, like Larry does. And then Larry talks [expletive], I love that, he talks trash, I love that. And then Michael coming down the middle with the tongue out, nothing like it.' Johnson and Bird were fierce rivals starting when they met for the 1979 NCAA championship, but in the mid-1980s, they became friends when they both shot a commercial for Converse. While Johnson lived to compete for all the marbles against Bird and later Jordan, getting to represent the United States alongside both of them was truly a special opportunity. That iteration of Team USA basketball in 1992, which is commonly known as the "Dream Team," breezed its way to the gold medal. Back in those days, the rest of the world had no shot at even competing with the United States in basketball, and Johnson, Bird, Jordan and the other NBA stars on that squad soaked in every second.
Yahoo
06-06-2025
- Entertainment
- Yahoo
Alex Rodriguez Says He's in the ‘Appointment Only' Phase of Parenting
Fact checked by Sarah Scott Alex Rodriguez is in the season of parenting where it's almost like 'appointment only,' he tells Parents. His eldest daughter Natasha, 20, is a rising junior at the University of Michigan, while his youngest Ella, 17, will be heading into her senior year of high school. 'They're so busy that when I get a little date for like an awesome dinner, I'm so fired up," he says. "It's just amazing to see them develop with high self-esteem, good purpose, and good intention in their life. And it's great to see them strive to reach their goals.' It doesn't hurt that they have their successful dad to look up to. Rodriguez, a former professional baseball shortstop who played on the Yankees for 12 seasons, has built a business empire as the chairman and CEO of his investment firm A-Rod Corp. The 49-year-old hopes his career is instilling important lessons in his kids, including treating people with respect, humility, and always pushing forward. 'I've gone through a lot of ups and downs. I've always been very transparent about my mistakes,' he shares. 'I hope they are learning from daddy's mistakes, and hopefully becoming a better version. And just obviously, the hard work and how important family is.' While Rodriguez is proud to watch his daughters grow, he's finding the transition to college difficult. "There's a special bond between dads and girls and it's scary," he says. "If I had a boy, I'd probably just throw him out on the field, and it's just less worry. But with your girls, you got to be more protective." To keep a strong bond with his daughters, Rodriguez says he's big on FaceTiming, texting daily, and keeping up with them on social media. In moments when he needs parenting advice, he leans on a trusted source. "The work I've done with my therapist the last 10 years, he's probably been my go-to person," he says. "It has brought a lot of awareness on how the girls think, and the importance of open communication." As for the type of dad he is? Rodriguez says he's all about "a lot of love, a lot of fun, with like 20% stern. I think they both kind of fear daddy a little bit, in a sense, where I don't think they want to disappoint, or they know that I have high standards for them." Rodriguez isn't slowing down. He's jumped into the podcast world with The Deal, co-hosting with Bloomberg correspondent Jason Kelly. Heading into season 3, the podcast tackles investing, strategy, and reinvention with high-profile guests, including investor and sports team owner Josh Harris, as well as Magic Johnson, who is appearing on an upcoming episode. "If you like music, sports, entertainment, and culture, this is your podcast," he says. Of course, he hasn't forgotten his baseball roots. Rodriguez partnered with Lysol to promote the Lysol Laundry Sanitizer in an effort to champion for two important sports officials. "Referees and umpires have the toughest job," he says. "You have to be so selfless, because even if you do a great job, you have nine people from one team screaming at you, the other ones screaming—no one's ever happy. It's a little bit like parenting...I love the partnership because we try to highlight people that are often not highlighted, and use our platform collectively to elevate refs and umpires." A-Rod, an Emmy Award-winning MLB analyst for Fox Sports and ESPN, has been keeping up with the sport since retiring nearly a decade ago. He has nothing but positive things to say about his former team. "The Yankees are having a great season," he says. "They had a big obstacle when they lost Juan Soto, and I think Brian Cashman did an incredible job of redirecting the resources into getting a handful of players versus one. Max Fried jumps off the page because he's potentially going to be the Cy Young winner. And they have [Cody] Bellinger, and they moved [Aaron] Judge back to right field. So they took one negative and turned it into an incredible positive." He also uses his platform to advocate for young athletes. In a recent Instagram video, Rodriguez shared his belief that kids today play too many games, stripping them of the ability to learn the fundamentals. "I've always thought the process is greater than results," he says. "I just think that you get better by practicing, not just by playing. Think about baseball—you can play five games, and if you play shortstop, you might get one ground ball in five games. Versus if you practice for 30 minutes, you can catch 100 ground balls. So the old way was you practice six days to play one; today, it's like you play seven games with no practice." Baseball and business aside, Rodriguez says he's also making it a point to focus on what else brings him joy, particularly working out, family dinners, and family vacations. "I'm trying to have a more balanced life where you take care of yourself, your mind, soul, spirit," he says. "It can't just be all work. It can't be all fun. There has to be a balance." Read the original article on Parents
Bloomberg
05-06-2025
- Business
- Bloomberg
Susie Wolff Wants Women in Formula 1
Charlotte Tilbury, the eponymous cosmetics entrepreneur, wanted to back a female race car driver. Susie Wolff had a different idea. Wolff, the managing director of the all-woman F1 Academy, convinced Tilbury to sponsor the entire racing series, lending the brand's name to what's arguably one of the boldest efforts in racing: getting a woman on the Formula 1 grid. 'I very much wanted to bring in a female-founded, female-focused brand,' Wolff says on the latest episode of The Deal with Alex Rodriguez and Jason Kelly.
