Latest news with #LarryDolan
Yahoo
25-02-2025
- Business
- Yahoo
Guardians' Ownership Succession Plan Is Solid—a Rarity in U.S. Sports
Oftentimes in U.S. sports, the death of a long-time franchise owner is followed immediately by questions about estate planning, succession intentions and the club's long-term ownership. The death of 94-year-old Larry Dolan on Monday is unlikely to spark that uncertainty for the Cleveland Guardians. David Blitzer, who became a minority partner in the MLB team in 2022, is holding a path to control that he acquired as part of his investment. As Sportico previously reported, the deal gives Blitzer the pre-priced opportunity to buy control of the Guardians roughly six years after his initial investment. In the meantime, the club will continue to be owned by the Dolan family and run by Larry's son Paul, who has been the club's primary control person since 2013. More from Sporticast 426: Not Your Father's New York Yankees Dodgers Test 'You Can't Have Too Much Pitching' as Ohtani Tunes Up ESPN Broke Up With MLB Because the Money Just Didn't Add Up 'Nothing changes,' a team spokesperson said Monday night in an email. He declined to comment on the specifics of Blitzer's deal. A rep for Blitzer also declined to comment. Should Blitzer execute his option, it would be a tidy change of ownership for the Guardians, in contrast to what we've seen from a number of sports franchises recently. The Denver Broncos sold in 2022 because the family of late owner Pat Bowlen could not agree on a successor. The family of late Padres owner Peter Seidler is currently in court fighting over control of the MLB team. The death of longtime Chicago Bears owner Virginia McCaskey in early February has spurred all sorts of questions about whether her family can maintain ownership of the team while remaining compliant with the NFL's ownership rules. The Baltimore Orioles sold last year on the eve of Peter Angelos' death following disagreements between his children. The Boston Celtics are currently on the market as a result of estate planning for Irving Grousbeck, who is around 90 years old. The Dolan family bought the Guardians, then nicknamed the Indians, from Dick Jacobs in 2000 for $323 million. Larry Dolan was the brother of Cablevision founder Charles Dolan, and uncle to Jim Dolan, owner of the New York Knicks and New York Rangers. Paul took over control of the franchise in 2013. The team is currently worth $1.48 billion, according to Sportico's number. Over the 25 years, that's a compound annual growth rate of about 6.28%. That's roughly on par with what an investment in the S&P 500 would have grown to, without dividends reinvested ($1.35 billion). With dividends reinvested, $323 million put into the stock index in late 1999 would be $2.1 billion today. Blitzer, the chairman of Blackstone's tactical opportunities group, is the only person Sportico is aware of who has investments in all five major U.S. sports leagues. He is the co-owner with Josh Harris in the NBA's Philadelphia 76ers and New Jersey Devils; an investor in MLS club Real Salt Lake; an investor in the NFL's Washington Commanders; and a minority partner in the Guardians. The Guardians were the fifth and final piece to that achievement. Blitzer's Harris Blitzer Sports and Entertainment has other sports holdings in its portfolio, including a minority stake in Premier League club Crystal Palace and sports consultancy Elevate. His sports-focused family office, Bolt Ventures, also owns a number of soccer teams in of NFL Private Equity Ownership Rules: PE Can Now Own Stakes in Teams Most Expensive Sports Memorabilia and Collectibles in History Why Sports Tickets Are More Expensive Than Ever
Yahoo
25-02-2025
- Automotive
- Yahoo
Nissan shows off newly redesigned SUV lineup at Cleveland Auto Show
CLEVELAND (WJW) – Nissan is one of the very first brands you see when you walk in the I-X Center for the 2025 Cleveland Auto Show. The Japanese automaker has close to 10 vehicles on display on the showroom floor, with multiple newly redesigned SUVs highlighting the lineup. Guardians owner Larry Dolan dies at 94 'The 2025 Murano, the 2025 Kicks, and the 2025 Armada, those are the three that I just think that are just outstanding,' I-90 Nissan Managing Partner Diehl Belza said. 'They're world-class, they're top of the echelon, and I'd love to get the chance to show you a few of them.' Belza said Kicks will be one of the best-selling vehicles this year, due to it's new capabilities, like All Wheel Drive, a wider dual-screen display and a Bose Personal Plus Audio System – affordable with base models priced well under $25,000. 'Northeast Ohio, you 'gotta have that,' he said. Belza said Nissan's affordability is unmatched, specifically in the full-size SUV market. 'When you look at the 2025 Armada, it's a vehicle that starts under $60,000,' Belza said. 'In that large segment, that's inexpensive. Most of them are up to $120,000. Our platinum reserve model tops out at $85,000, with many of the features that competing models don't even have.' Belza said between I-90 Nissan in Sheffield Village and Nissan of North Olmsted, there's close to 500 new vehicles in stock, and special auto show discounts for customers. 'Nissan this year, every model line has an incentive on it, which is the first time ever,' Belza said. 'So, if you're looking to make a decision, this is probably a really good time to do it. It's up to $1,000 extra auto cash on many of the models. And the lowest component is $500. So, take advantage if you're really in the marketplace, which many people are, please take advantage of it.' 'Cyber incident' shuts down Cleveland Municipal Court for a second day I-90 Nissan is located at 5013 Detroit Rd, Sheffield, OH 44054, and Nissan of North Olmsted is located at 28500 Lorain Rd, North Olmsted, OH 44070. The Cleveland Auto Show continues through March 2, tickets can be purchased here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
25-02-2025
- Business
- Yahoo
Unclaimed Powerball ticket worth $100K sold in Northeast Ohio — is it yours?
LORDSTOWN, Ohio (WJW) – A winning Powerball ticket worth $100,000 was recently sold in Northeast Ohio. Now, lottery officials are waiting for the lucky winner to come forward. According to Ohio Lottery, the winning ticket from Saturday night's drawing was purchased at the Lordstown Speed Check in the 6500 block of Todd Avenue. Saturday's winning numbers were 7, 18, 22, 50, 65 and Powerball 15 with a Power Play of 2X. Guardians owner Larry Dolan dies at 94 According to Ohio Lottery, the winner matched four of the five numbers and the Powerball ($50,000), plus they matched the Power Play to double their winnings. Lottery officials said the winner picked their numbers at random. Nearly 300 laid off at Maple Heights distributor As of Monday, the $100,000 prize hasn't been claimed. The winner has 180 days from the draw date to come forward. The Powerball jackpot sits at $230 million ahead of Wednesday night's drawing. Learn more about it here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
NBC Sports
24-02-2025
- Business
- NBC Sports
Cleveland Guardians owner Lawrence Dolan dies at 94
CLEVELAND — Lawrence J. Dolan, owner of Cleveland's major league baseball team since 2000, has died at age 94. The Cleveland Guardians put out a statement Monday saying Dolan died Sunday night of natural causes. 'Mr. Dolan invested his entire life in Greater Cleveland and impacted our community on so many levels,' said Bob DiBiasio, Guardians senior vice president of public affairs, in a statement. 'From his service to our country as a First Lieutenant in the United States Marines, his many philanthropic acts of kindness, career in law, business, education, and sports, many benefited from his engagement, influence, and passion. Especially in the world of sports.' Dolan, a Cleveland native, purchased the team from Richard Jacobs in 2000 for $320 million. The Dolan family has a 75% stake in the club and is the longest-tenured owners in Cleveland franchise history. Guardians Chairman and CEO Paul Dolan, Larry Dolan's son, took over as the team's primary control person in 2013. 'We are saddened by the loss of our Dad, but lucky to have him as part of our lives as long as we did,' he said in a statement. 'He was a loving husband, father and grandfather who was passionate about his family, work, our community and his love of our local sports teams, including owning the Cleveland Guardians.' The franchise was known as the Cleveland Indians before changing its name to the Guardians after the 2021 season. Over the past 24 seasons, Cleveland has won seven American League Central Division titles, made nine postseason appearances and advanced to the 2016 World Series before losing to the Chicago Cubs in seven games. Cleveland also hosted the 2019 MLB All-Star Game. 'I am saddened by the passing of Cleveland native Larry Dolan, whose family's quarter-century ownership has made their hometown team a consistent winner and a staple of their community,' MLB Commissioner Rob Manfred said in a statement. 'He strongly believed in mentoring young people and using the Guardians as a way to impact Greater Cleveland. Larry also served the industry by bringing his professional expertise to the Major League Executive Council and the Ownership Committee, and he served on two labor negotiating committees.' Dolan is survived by his wife Eva, six children and 21 grandchildren. His nephew, James Dolan, owns the New York Knicks, New York Rangers and Madison Square Garden.
Fox News
24-02-2025
- Sport
- Fox News
Guardians owner Larry Dolan, Cleveland native, dead at 94
Longtime Cleveland Guardians owner Larry Dolan has died at age 94, the team announced Monday. The Dolan family is the longest-tenured owner in franchise history, and its patriarch is a lifelong Clevelander who influenced his community both on and off the field over the years. "We are saddened by the loss of our Dad, but lucky to have him as part of our lives as long as we did," Dolan's son, chair and CEO Paul Dolan, said in a statement. "He was a loving husband, father and grandfather who was passionate about his family, work, our community and his love of our local sports teams, including owning the Cleveland Guardians." The Guardians added a video to its announcement of Dolan's death, saying "Cleveland sadly lost one of its own today." "Born in Cleveland Heights in 1931, Lawrence J. Dolan invested his entire life in Greater Cleveland and impacted our community on so many levels," the narrator says over a montage of Dolan pictures. "From his service to our country as a first lieutenant in the United States Marines, his many philanthropic acts in kindness, his career in law, business, education and sports, many benefited from his engagement, influence and passion, especially in the world of sports." Dolan was a multi-sport star at Saint Ignatius High School, playing both running back and defensive back on the football team and starring as a catcher on the baseball diamond. "He was blessed to realize two dreams [of] almost every Cleveland athlete of his generation: to play on the field at Cleveland Stadium, where his boyhood idol, Lou Boudreau, starred, and to own one of our city's professional sports teams," the narrator continues. "In February 2000, he purchased his beloved hometown baseball team. We are forever grateful for his passion and supporting the Northeast Ohio community and the Cleveland Guardians organization." MLB Commissioner Rob Manfred also released a statement on Dolan, expressing his condolences to the family and organization. "I am saddened by the passing of Cleveland native Larry Dolan, whose family's quarter-century ownership has made their hometown team a consistent winner and a staple of their community," Manfred wrote in a statement. "Larry was a lifelong baseball fan who served our country as a First Lieutenant in the United States Marines. He strongly believed in mentoring young people and using the Guardians as a way to impact Greater Cleveland." Dolan purchased his hometown team for "323 million from Richard Jacobs, and he saw Cleveland post 14 winning seasons and nine trips to the postseason since then." In 2016, they reached the World Series as the American League pennant winners but fell to the Chicago Cubs at home in a thrilling game. Paul Dolan ultimately took over as the primary owner of the franchise in 2013, eventually overseeing the team's name change to Guardians in 2021. Follow Fox News Digital's sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.
