Owners of NBA's 76ers, NHL's Devils purchase stake in Steelers
The Pittsburgh Steelers confirmed Monday that they have two new minority owners.
Financiers Josh Harris and David Blitzer, who own the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils, bought a stake for less than 5% of the team, according to a report by Bloomberg News. Harris and Blitzer also own Prudential Center in Newark, N.J., and the Crystal Palace soccer club in the English Premier League.
It’s the second time in less than a year the Steelers have welcome new investors. In December, Doug Ledba, a Pittsburgh native who founded Lending Tree, and NC Revocable Trust, a family-based trust in Pittsburgh, purchased a portion of the nearly 5% percent stake David Tepper held.
Tepper, the Stanton Heights native who bought the Carolina Panthers in 2018, had to divest his interest in the Steelers upon purchasing another NFL franchise. The remainder of Tepper’s stake was purchased by Pittsburgh Steelers Inc., the company that operates the team.
The Rooney family, which has owned the club since its inception in 1933, continues to run day-to-day operations of the team. Art Rooney II, the grandson of team founder Art Rooney, is the team’s president.
According to the report, Harris and Blitzer will be silent investors with no input in day-to-day operations of the franchise. Thomas Tull, Rob Citrone, Bruce Rauner and former Steelers receiver John Stallworth are among other silent investors with the Steelers.