MLB approves minority sale of Cleveland Guardians to David Blitzer

Major League Baseball has approved a minority sale of the Guardians to David Blitzer, so what does this mean for the team moving forward?

It’s been known for months that private equity investor David Blitzer – currently a minority owner of the NHL’s New Jersey Devils and NBA’s Philadelphia 76ers, among a number of other sports teams – had been going through the process of becoming a minority owner of the Cleveland Guardians, but the deal is now official.

MLB commissioner Rob Manfred confirmed on Thursday that the league approved the minority ownership sale, and an AP source puts the deal at a 25-30% ownership stake to start, with Blitzer having the right to full ownership in five or six years.

What does David Blitzer’s minority ownership mean for the Guardians?

The Dolan family and Cleveland fans have always had a strained relationship, despite the fact that the team is one of the most successful franchises in baseball going back to 2013, when Terry Francona became the manager. But that success has often come in spite of a painfully low payroll at times, and Blitzer’s incoming stake could certainly help in that department.

The Guardians expect a new contention window to be opening soon, though it seems like the team could be on the verge of making the playoffs ahead of schedule. With Blitzer’s minority ownership, there is far more flexibility to add to the team payroll in upcoming seasons, through either internal extensions or finding still-affordable free-agent options. Nobody is expecting the team to suddenly drive the payroll to $150 million overnight (or, let’s be honest, possibly ever), but one should assume Cleveland will be in the running for players more often.

And when Blitzer’s group one day becomes the majority ownership stake, well, there’s just no telling how that tenure will go. Owners view their team investments in wildly different lights; some view it as nothing more than yet another profit generator, while others come in ready to spend whatever it takes to win a championship. Only time will tell how Blitzer’s reign will eventually shake out.

Still, in the short term, this move lines up well with the Guardians’ young roster and the potentially exciting years ahead.