Blackstone senior exec and co-owner of Crystal Palace completes £295m deal with MLS club

Jan 6, 2022 | News

A group led by Crystal Palace part-owner David Blitzer has completed the takeover of Major League Soccer side Real Salt Lake, with the 52-year-old now having the distinction of holding a share of franchises in all five of the United States’ major sports.

Blitzer, who purchased an 18% stake in Palace in 2015, and the NBA’s Utah Jazz owner Ryan Smith completed a deal worth almost $400million (£295million) to buy a club that had been without a present owner since Dell Loy Hansen stepped back in September 2020 following accusations of racist behaviour.

“The combination of David Blitzer and Ryan Smith’s SEG form a dream partnership for Real Salt Lake,” the MLS commissioner Don Garber said upon confirming the takeover.

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“David and Ryan’s teams have become synonymous with how athletics and community intersect, as they have demonstrated leading world-class organizations outside of professional soccer.

“Both understand the tremendous value that sports teams bring to a community, and they are deeply committed to Utah. This is a proven ownership group that brings resources and experience to elevate every aspect of the RSL organization.”

Real Salt Lake are the fifth football club that Blitzer, who Forbes estimates is worth $1.3billion (£960million), has invested in. The Blackstone private equity senior executive has shares in the German Bundesliga side Augsburg, Belgian first division team Waasland Beveren and the Eredivisie outfit ADO Den Haag.

Source: Football London

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