76ers, Devils majority owners acquire a small stake in Steelers, per report

Josh Harris and David Blitzer's minority stake is worth $140 million

The Pittsburgh Steelers have new partners in their ownership group, with Wall Street tycoons Joshua Harris and David Blitzer adding another professional sports franchise to their growing list. Harris and Blitzer acquired a minority stake in the Steelers, reported to be $140 million of the franchise that is worth $2.8 billion, per Bloomberg.com. 

Their stake in the Steelers is less than 5 percent. Harris and Blitzer are the majority owners of the Philadelphia 76ers and the New Jersey Devils, while also being co-owners of English Premier League's Crystal Palace FC. They also have been reportedly interested in buying a majority stake in the New York Mets. 

Harris, the co-founder of Apollo Global management, has a net worth of approximately $4.9 billion. Blitzer is the Global Head of Tactical Opportunities at Blackstone, one of the world's leading investment firms and a rival of Apollo Global Management on Wall Street. 

Their stake in the Steelers is believed to be the proportion of the team vacated by David Tepper, who bought the Carolina Panthers in 2018 for an estimated $2.3 billion. When Tepper bought the Panthers, he had to give up his stake in the Steelers. Harris and Blitzer will reportedly have no input in operations of the Steelers. The franchise won't take part in Harris Blitzer Sports & Entertainment, which is the holding company the Wall Street rivals formed in 2017. 

The majority owners of the Steelers are the Rooney family, with Art Rooney II the majority owner since Dan Rooney passed away as chairman in 2017. Rooney's grandfather, Art, was the founder of the Steelers in 1936. Other investors of the team include hedge fund manager Rob Citrone, former Illinois Governor Bruce Rauner and Pro Football Hall of Famer John Stallworth, who won four Super Bowl titles with the franchise. 

Harris and Blitzer bought the Sixers for $280 million in 2011, a franchise that is now worth $2 billion (per Forbes). The duo bought the Devils in 2013 for $320 million, which included the rights to the Prudential Center in Newark, New Jersey, where the Devils play. The Devils are worth an estimated $550 million.