Six months after a report surfaced that they were close to reaching a deal to sell their minority stakes in the Pittsburgh Steelers after becoming owners of the Washington Commanders, Josh Harris and David Blitzer have completed the sale of their minority stake in the Steelers.
According to a report from Front Office Sports, Harris and Blitzer sold the minority stakes back to an investment group led by current Steelers owners Art Rooney II and Thomas Tull.
According to Front Office Sports, the share sold back to Rooney and Tull totals roughly 5%. The outlet also reports that the deal was approved by NFL owners earlier this year.
“Financial terms of the deal were not available to FOS at the time of publication. The Steelers were valued at $4.625 billion by Forbes last August,” Front Office Sports writes.
Harris and Blitzer previously became owners of the Commanders in July 2023, when they purchased the franchise for $6.05 billion, which remains a record for an NFL franchise.
When Harris and Blitzer purchased the Commanders, NFL rules stated that no person can own shares of multiple organizations when they own the majority of at least one team. Therefore, once they purchased the Commanders, they had to sell their shares of the Steelers.
It’s no surprise that Tull increased his investment in the Steelers. He’s been vying to do so since Harris and Blitzer purchased the Commanders.
Tull first purchased a stake in the Steelers back in 2009 and has been more and more involved with the franchise and the city, even introducing Rooney to Acrisure CEO Greg Williams, who later purchased the naming rights to the Steelers’ stadium.
