Billionaires Josh Harris and David Blitzer Plan to Go 'All In' for Chelsea FC Bid
Josh Harris and David Blitzer are two billionaire business partners who plan to bid for Chelsea FC. How much are the hopeful buyers worth?
March 25 2022, Published 11:50 a.m. ET
Josh Harris (L) and David Blitzer (R)
Russian oligarch and owner of the Chelsea Football Club Roman Abramovich has to sell the club to avoid sanctions from the U.K. amid the ongoing war in Ukraine. With the sale deadline looming, one leading bidder is Josh Harris, the co-founder of Apollo Global Management. He owns the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. Harris and his business partner David Blitzer, who also works in an executive role for Blackstone, are prepared to go "all-in" on Chelsea.
Here’s a look at the net worths of Harris and Blitzer, who collectively are major players in professional sports across the board.
Josh Harris and David Blitzer own a sports and entertainment company.
Harris and Blitzer are at the helm of the eponymous Harris Blitzer Sports & Entertainment company. The company owns and operates the Sixers and N.J. Devils.
The company also acquired Clutch Gaming in 2019 to expand into the digital entertainment space. Harris Blitzer Sports & Entertainment investments include companies like Future, Wagr, HomeCourt, Artie, and Proteus Motion. All of these investments occurred in the last two-and-a-half years, which shows Harris and Blitzer are utterly growth-minded.
Harris and Blitzer already own a stake in premier league football.
Harris and Blitzer aren’t new to the premier league business. The sports moguls already own a stake in one team, with partial ownership in Crystal Palace FC. If the deal with Chelsea goes through, Harris and Blitzer will be required to sell their stake in Crystal Palace.
Harris and Blitzer both have billion-dollar net worths.
Chelsea is poised to sell for around $3 billion, which means any buyer must be in the big leagues. Harris's net worth is estimated to be $7.85 billion, which puts him in the 308th position on Bloomberg’s Billionaire Index.
Josh Harris
Founder of Apollo Global Management, Managing Partner of Harris Blitzer Sports & Entertainment
Net worth: $7.85 Billion
- Birth Year: 1965
- Place of Residence: New York City
- Wife: Marjorie Harris
- Children: 5
- Education: Wharton School of the University of Pennsylvania (BS), Harvard Business School (MBA)
Blitzer isn’t on the 500-strong list, but he’s still a billionaire with an estimated net worth upwards of $5 billion. He’s also on track to finalize a deal to purchase a 35-percent stake in MLB’s Cleveland Guardians. The team is valued to be worth $1 billion in total, which means Blitzer’s stake is worth at least $350 million.
David Blitzer
Global Head of Tactical Opportunities at Blackstone, Managing Partner of Harris Blitzer Sports & Entertainment
Net worth: $5 Billion
- Birth Date: September 7, 1969
- Place of Residence: New York City
- Wife: Allison Ross
- Number of Children: 5
- Education: University of Pennsylvania (BS)
Will Harris and Blitzer land Chelsea FC?
Harris and Blitzer are definitely favorites for the Chelsea FC bid, but nothing is final yet. The pair’s main competitor is Todd Boehly, another American billionaire who owns MLB’s Los Angeles Dodgers. Ultimately, the buyer of Chelsea will take on Abramovich’s U.K. fortune, with the sanctioned Russian oligarch reportedly being willing to erase debt to the tune of nearly $2 billion from the deal to speed up the process.