Josh Harris and David Blitzer, owners of the Philadelphia 76ers and New Jersey Devils, are taking their growing sports empire overseas.
The American businessmen will invest £100 million (about $108 million) in the English Premier League’s Crystal Palace franchise, according to Sky Sports and other outlets.
Sky Sources: Group of American Businessmen led by Josh Harris & David Blitzer agree £100m deal to buy controlling stake in Crystal Palace.
— Sky Sports News (@SkySportsNews) December 17, 2015
Harris and Blitzer will reportedly invest an additional £50 million in redeveloping Selhurst Park, Crystal Palace’s home.
Last week, Forbes reported that Harris and Blitzer planned to sell the 76ers in hopes of eventually bringing a NFL team to the United Kingdom. According to Forbes, the billionaires are investing in Crystal Palace to “get to know the market” in preparation for their NFL bid. Harris and Blitzer deny they intend to flip the 76ers as part of this master plan.
These reports make it seem as though Harris and Blitzer treat sports franchises as trading cards. If you’re a Crystal Palace supporter, you must be excited about the new money coming in but also hesitant about these foreigners who are reportedly using you as a steppingstone for bigger things.
Harris and Blitzer certainly seem to have ambition and might be worth keeping an eye on in the coming years.
