David S. Blitzer

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David S. Blitzer (born 1970) is a partial owner of the New Jersey Devils of the National Hockey League, Philadelphia 76ers of the National Basketball Association, and a senior executive at the private equity firm Blackstone Group.

Biography

Blitzer grew up in Scotch Plains, New Jersey.[1] He graduated magna cum laude from the University of Pennsylvania in 1991. He is married to fellow UPenn alumni Allison Ross.[2] In 1991, he accepted a position with the Blackstone Group where he serves as Senior Managing Director & Head of Tactical Opportunities in New York City.[3]

Blitzer is a member of the investment group that won a $280 million bid for the purchase of the Philadelphia Seventy-Sixers. The other members of the investment group are: Joshua Harris of the private equity firm Apollo Global Management, portfolio manager Art Wrubel, and former NBA agent and Sacramento Kings executive Jason Levien, all fellow Wharton School of the University of Pennsylvania graduates,[4] as well as former Vail Resorts CEO Adam Aron, Martin Geller, David Heller, Travis Hennings, James Lassiter, Marc Leder, Michael Rubin, Will Smith & Jada Pinkett Smith, and Indonesian businessmen Handy Soetedjo & Erick Thohir.[5] Comcast-Spectacor and Harris began talks in the summer of 2011. The deal was announced on July 13, 2011.[6] The NBA formally approved the deal on October 13.[7]

In 2010, his father-in-law, Stuart Ross, who once owned the North American rights to the Smurfs franchise, was convicted of trying to extort $5.5 million from Blitzer in return for having no more contact with Blitzer's family and another $5.5 million from Blitzer for having no more contact with Blitzer and Blackstone. He was convicted of extortion and sentenced to five years of probation under the condition that he get psychiatric and alcohol treatment and has no contact with his daughter Allison, Blitzer, their children, and the Blackstone Group.[8][9][10]

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 Devils of the NHL, which includes the rights to operate Prudential Center arena in Newark, New Jersey. The transaction was reportedly for over $320 million.[11]

References

  1. ↑ New York Times: "Private Equity Princes Reach Deal for 76ers" By PETER LATTMAN July 13, 2011
  2. ↑ University of Pennsylvania Gazette retrieved July 7, 2013
  3. ↑ Blackstone Group: Our People - David S. Blitzer retrieved July 7, 2013
  4. ↑ Philadelphia Inquirer: "Those who know him say Joshua Harris, soon-to-be Sixers owner, lives for competition and success" By Kate Fagan August 02, 2011
  5. ↑ ESPN: "Group led by Joshua Harris completes purchase of Sixers" October 18, 2011
  6. ↑ Sale of 76ers to Joshua Harris finished. ESPN, 2011-07-13.
  7. ↑ Group led by Joshua Harris completes purchase of 76ers. Philadelphia 76ers, 2011-10-13.
  8. ↑ Wall Street Journal: "New Tack in Extortion Case - Blackstone Executive Now Being Sued by His Father-in-Law's Former Attorney By MICHAEL ROTHFELD September 3, 2011
  9. ↑ New York Post: "Importer of 'Smurfs' takes plea in wacky $11.5 million Blackstone Group extortion case" By LAURA ITALIANO August 12, 2010
  10. ↑ Bloomberg: "Father-in-Law of Blackstone Director Blitzer Faces July 26 Extortion Trial" By Karen Freifeld June 7, 2010
  11. ↑ "Devils announce sale of team to billionaire Josh Harris". The Star-Ledger. August 15, 2013. 
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