The owners of the Philadelphia 76ers and New Jersey Devils, Josh Harris and David Blitzer, have reportedly acquired small stake of less than 5 percent in the Pittsburgh Steelers, according to Bloomberg News. As part of the ownership group, the two will be passive investors with no input on operations.
No detail on price were available, but Forbes estimates the overall team value as $2.8 billion.
In addition to the 76ers and Devils, the Wall Street PE duo own Newark’s Prudential Center and the Crystal Palace soccer club of the English Premier League.
The Steelers are controlled by the sons of team founder Art Rooney, Bloomberg reports. Other investors include hedge fund manager Rob Citrone, former Illinois Gov. Bruce Rauner and John Stallworth, who played for the team in the 1970s and ’80s.
Carolina Panthers owner and Pittsburgh native David Tepper owned a similar-sized stake to Harris and Blitzer before he purchased the NFL team in 2018 for nearly $2.3 billion.
