Cleveland Guardians Officially Welcome New Minority Owner David Blitzer

The Cleveland Guardians, one of the most cautious spenders in the major leagues, have put themselves in a position to be more aggressive in procuring players.

On Monday the Guardians officially announced the addition of David Blitzer as a minority owner. Blitzer assumes 25% ownership of the team, with an option to become the majority owner in six years.

“I am very excited about bringing on David Blitzer and his group as our partners,” Guardians owner Paul Dolan said in a statement released by the team. “David brings a wealth of experience in the sports industry that we believe will be a complementary addition to our organization. I look forward to collaborating with David for years to come to achieve our goal of winning a World Series.”

Monday’s news was expected, following Major League Baseball Commissioner Rob Manfred’s confirmation earlier this month that the American League had approved the transaction.

Dolan has been seeking a minority owner for the Guardians for the last few years. His search began when John Sherman, who became a minority owner of the team in 2016, left Cleveland in 2019 to become the owner of the Kansas City Royals.

The 52-year-old Blitzer already owns stakes in other sports franchises, specifically the NBA’s Philadelphia 76ers, the NHL’s New Jersey Devils, and soccer teams Crystal Palace and Real Salt Lake.

“I am thrilled to join the ownership group of the Cleveland Guardians, a storied Major League Baseball franchise with a loyal, engaged fanbase,” Blitzer said, in the statement released by the Guardians. “Our goal is to support Paul and the incredibly talented Guardians leadership team in delivering to Cleveland a team that can contend for a World Series. We also look forward to assisting the Guardians in their mission of using the platform of baseball to drive positive change in the communities our team serves. I thank Paul and the Dolan family, as well as our partners in this investment, for this amazing opportunity.”

The addition of Blitzer to the Guardians’ ownership group comes at a good time. Only two Cleveland players are under contract beyond this year: third baseman Jose Ramirez, who signed a seven-year, $141 million extension on opening day, and centerfielder Myles Straw, who agreed to a five-year, $25 million deal earlier this season.

The Guardians, who have played surprisingly well this season despite having the youngest team in the major leagues, have several key players still under club control through arbitration. However, the team has a history of signing its top young players to multi-year deals while they are still in their arbitration years.

The most important player on that list is pitcher Shane Bieber, a two-time All-Star, former All-Star game MVP, and the 2020 American League Cy Young Award winner. The 27-year-old Bieber can become a free agent following the 2024 season.

Shortstop Amed Rosario is likewise eligible for free agency following the 2024 season. Four other key players, pitchers Zach Plesac, Cal Quantrill, and Aaron Civale, plus first baseman Josh Naylor can become free agents following the 2025 season.

Cleveland also has a minor league system brimming with talent, which might reduce the urgency to sign some current players on the big-league roster to multi-year deals. But the addition of minority owner Blitzer potentially gives the Guardians the wherewithal to buy out the remaining arbitration years, and perhaps even a free agent year, with multi-year deals for the right players.

The Guardians’ free agent shopping habits, which have been nearly non-existent in recent years, may become more significant, with the addition of Blitzer. In 2016, shortly after the ballclub added Sherman as a minority owner, Cleveland signed free agent Edwin Encarnacion to a three-year, $60 million contract, which was, at that time, and still is, the largest contract in franchise history.

It’s also interesting to note that, for what it’s worth, Blitzer’s official arrival comes with the Guardians squarely in the hunt in the AL Central race, and this year’s August 2 trade deadline just a little over a month away.

Paul Dolan and his family have owned the Guardians longer than any owner in the history of the franchise, which dates to 1901, when Cleveland became a charter member of the American League.