avfcwills10 Posted May 14, 2014 Share Posted May 14, 2014 Also he didn't just buy it out right, he is the front man and has backing from someone called David Blitzer who is from 'Blackstone Group', who has a history of sport and also lived in London?http://dealbook.nytimes.com/2011/07/13/private-equity-princes-reach-deal-for-76ers/?_php=true&_type=blogs&_r=0 Link to comment Share on other sites More sharing options...
avfcwills10 Posted May 14, 2014 Share Posted May 14, 2014 On August 15, 2013, it was announced that a group led by Joshua Harris and partner David Blitzer have purchased a majority stake in the New Jersey Devilsof the NHL, which includes the rights to operate Prudential Center arena in Newark, New Jersey. The transaction was reportedly for over $320 million. If it's the two of them it fits in with being 2 people that are buying us too! I'm getting over excited that i'm some sort of detective 3 Link to comment Share on other sites More sharing options...
samjp26 Posted May 14, 2014 Share Posted May 14, 2014 Apollo invests heavily in distressed properties -- which one could argue would include the Sixers. The Milwaukee Bucks were sold this week for a reported record $550 million, a sum that could make even billionaires consider selling for a tidy profit. Harris said no way. "Clearly, this has been a successful investment so far for the ownership group," he said. "But the reality is, I don't think we're going to sell this investment for a long time. I expect my kids to be around the Sixers. We're building this thing for the long run." Forbes also valued the 49-year-old Harris' net worth at $2.7 billion. Harris and a partnership group bought the NHL's New Jersey Devils in August, and he refused to rule out the possibility of buying another sports franchise. SHIT YOU NOT MY MONEYS ON THIS GUY NOW Better than us all going around in circles so yeah, looking further into this it looks like Harris has a partner called David Blitzer, they are both partial owners of the Sixers and they both led a group that took over the New Jersey Devils NHL team last year (just before they attempted to buy Charlton). Not sure whether they are the exact same groups that took over both teams, but they were both led by Harris and Blitzer. It is worth noting that the Devils cost around £190m and the Sixers cost around £170m. They've purchased both teams (with the aforementioned group or groups) within 3 years and attempted to buy Charlton shortly after they got the Devils. Here is an article about both of them and how they plan to run things at the Devils: One of the new guys politely declined an invitation to lunch after his introduction as Devils co-owner, and really, that said it all. “I have to get back to the office and get some work done,” David Blitzer said on his way out of the Prudential Center. Because, let’s face it, completing a deal worth more than $320 million to buy an NHL team and its downtown Newark arena is just not enough for one day. These guys mean business. That was the takeaway from the press conference at the Prudential Center. David Blitzer and Joshua Harris are serious businessmen who plan to treat their newest asset as such – a business. And, if you’ve followed the Devils, that has to be refreshing. This has been a model sports franchise on the hockey side, with a revered general manager who insisted on doing everything, from the chartered flights to the five-star hotels, in a first-class way. If you were starting a franchise in any sport, you could do much worse than copy what Lou Lamoriello has done. But on the business side? That’s been a different story over the years. You always had the sense that the Devils’ marketing operations consisted of four guys fighting over a stapler. Underfunded. Overwhelmed. And, based on the financial predicament of the previous owner, under performing. That will change now. Blitzer and Harris said all the right stuff about their local ties – Harris’ grandparents lived in Newark, Blitzer is a self-described “Jersey Guy” – and their hope to make the world a better place by investing in the city and its people. “I love sports,” said Harris, co-founder of Apollo Global Management. “I enjoy winning. I think this is an excellent platform to win.” It is clear, however, that winning for Harris is going to involve more than a fourth Stanley Cup banner. This is a man whose net worth jumped $600 million in the past year alone, according to Forbes. He didn’t buy the Devils because he loves hockey or needs a new toy. He and Blitzer, an executive at the private equity firm the Blackstone Group, want to turn the Devils into a winning business, and that’s what makes this transaction so interesting and, for longtime fans, exciting. This deal not only lifts the constant financial cloud that has hovered over the franchise for much of its existence. This is the beginning of a new era for the Devils, and at the start, it’s hard to find a downside. Harris is a billionaire who has vowed to let Lamoriello make all hockey decisions while infusing the team with the needed resources to transform it into a model franchise off the ice. The man who will be in charge of making the latter happen is Scott O’Neil, the former president of Madison Square Garden Sports. He is an over-caffeinated marketing guy who promised the Devils would soon “put a few more bodies on the street” to sell luxury suites and sponsorship deals. “(Harris and Blitzer) ask the magic question: 'What resources do you need to have a world-class organization?'” O’Neil said. “If you’re an operator like me, that’s a pretty good question for your bosses to ask.” O’Neil has only worked with them for a month – he was hired as CEO of their other pro sports team, the Philadelphia 76ers – last month. His plan is to split time between the two franchises. Hey, it’s his EZ-Pass bill, not ours. He’ll get an assist from Hugh Weber, who is credited for stabilizing the New Orleans Hornets after their one season in Oklahoma City in the aftermath of Hurricane Katrina. Weber will handle the day-to-day business of trying to convince business leaders to open their wallets. “I’m really bullish on the North Jersey market,” O’Neil said. “You have 20 corporate headquarters here, the disposable income numbers are off the charts, and if you carved out North Jersey, it would be, what, the ninth largest market? You’d bet on this market any day or twice on Sunday.” Will it work? The Devils already averaged 17,114 fans at the Prudential Center in the lockout-shortened 2013 season, up 2,339 from two years ago. The TV contract with MSG runs through 2023-24, so it’s not likely Harris will be able to capitalize on the increasing value of sports content any time soon, as he hinted during the press conference. But the value of the franchise certainly isn’t going down – Jeff Vanderbeek was up to his ears in debt and still sold the team for nearly $100 million more than Forbes estimated its worth. It isn’t hard to envision another sale, a decade from now, that make these two rich guys even richer. In the meantime? “I think our overall conclusions are that there’s a lot more that can be done on the business side of the equation,” Blitzer said, before skipping lunch and going back to work. It’s just what these guys do. http://www.nj.com/devils/index.ssf/2013/08/politi_new_owners_will_treat_the_devils_like_a_business_and_thats_a_good_thing.html Link to comment Share on other sites More sharing options...
Mic09 Posted May 14, 2014 Share Posted May 14, 2014 2 Link to comment Share on other sites More sharing options...
samjp26 Posted May 14, 2014 Share Posted May 14, 2014 (edited) Andddd some further sleuthing brings up that the takeover groups for both teams headed by Harris and Blitzer include the likes of Will Smith, yes, the Fresh Prince. Not only him though, also a certain Erick Thohir. Who is Erick Thohir you ask? Erick Thohir became the majority owner of Inter Milan, round about the same time as Harris and Blitzer were set to buy Charlton. So, there are definitely football links with Harris, Blitzer and their buddies. This is all from that Twitter link of course, but hey, something to discuss! Edited May 14, 2014 by samjp26 Link to comment Share on other sites More sharing options...
mjames333 Posted May 14, 2014 Share Posted May 14, 2014 loving the sleuthing. Keep it coming! Link to comment Share on other sites More sharing options...
avfcwills10 Posted May 14, 2014 Share Posted May 14, 2014 If this materialises can i call myself ITK?? 1 Link to comment Share on other sites More sharing options...
Amo69 Posted May 14, 2014 Share Posted May 14, 2014 If this materialises can i call myself ITK?? NO! Link to comment Share on other sites More sharing options...
TrinityRoadSteps Posted May 14, 2014 Share Posted May 14, 2014 I hope these are not the guys. Only because I couldn't stand seeing all the New Jersey Debbies caps that people will inevitably start wearing Link to comment Share on other sites More sharing options...
pacbuddies Posted May 14, 2014 Share Posted May 14, 2014 Everything in this thread is just Link to comment Share on other sites More sharing options...
avfcwills10 Posted May 14, 2014 Share Posted May 14, 2014 If this materialises can i call myself ITK?? NO! It was a joke Link to comment Share on other sites More sharing options...
Amo69 Posted May 14, 2014 Share Posted May 14, 2014 (edited) If this materialises can i call myself ITK??NO! It was a joke So was my no I applaud your efforts really and if any of it happens you can call yourself whatever you want mate Edited May 14, 2014 by Amo69 Link to comment Share on other sites More sharing options...
avfcwills10 Posted May 14, 2014 Share Posted May 14, 2014 (edited) If this materialises can i call myself ITK?? NO! It was a joke So was my no I applaud your efforts really and if any of it happens you can call yourself whatever you want mate Looks as likely as any i've seen. Would having an owner who owns TWO other teams be a problem tho? Perhaps Edited May 14, 2014 by avfcwills10 Link to comment Share on other sites More sharing options...
Dodgyknees Posted May 14, 2014 Share Posted May 14, 2014 Very very very interesting, and fits in with timings etc, nice work. Link to comment Share on other sites More sharing options...
mjames333 Posted May 14, 2014 Share Posted May 14, 2014 It's always sunny in Villa-Delph-ia 4 Link to comment Share on other sites More sharing options...
Amo69 Posted May 14, 2014 Share Posted May 14, 2014 If this materialises can i call myself ITK??NO!It was a jokeSo was my no I applaud your efforts really and if any of it happens you can call yourself whatever you want mate Looks as likely as any i've seen. Would having an owner who owns TWO other teams be a problem tho? Perhaps Before I felt a deal with us already done. Now I'm starting to feel nobody wants us and we are screwed. Link to comment Share on other sites More sharing options...
samjp26 Posted May 14, 2014 Share Posted May 14, 2014 If anything it at least shows that there are American groups that are still interested in buying football teams. Link to comment Share on other sites More sharing options...
P3te Posted May 14, 2014 Share Posted May 14, 2014 But then you have to ask, why would a deal still be being made with Lerner now if he caught wind in December? Surely it would have been done by now. Because £200m is a lot of money Link to comment Share on other sites More sharing options...
niblot Posted May 14, 2014 Share Posted May 14, 2014 If this materialises can i call myself ITK?? Only if you create a twitter account with either "ITK" or "Agent" in it or join Defoe, Whittingham & that Charlton midfielder at the Belfry. Link to comment Share on other sites More sharing options...
avfcwills10 Posted May 14, 2014 Share Posted May 14, 2014 Also his consortium contained co-managing owner David Blitzer, former NBA player agent and Sacramento Kings executive Jason Levien, GSI Commerace CEO Michael Rubin, real estate investors, film producers, and Hollywood power couple Will Smith and Jada Pinkett Smith. One of those guys owns a big part of D.C United fc Link to comment Share on other sites More sharing options...
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