With former Pittsburgh Steelers’ minority owners Josh Harris and David Blitzer needing to sell their stake in the team after purchasing the Washington Commanders, there’s equity in the Pittsburgh Steelers for sale. One name that surfaced today from Bloomberg who is interested in purchasing the shares is Michael Rees, the co-president of Blue Owl Capital, Inc.
“Michael Rees, the billionaire co-president of Blue Owl Capital Inc., is among potential bidders interested in acquiring a stake in the NFL’s Pittsburgh Steelers, according to people familiar with the matter,” Bloomberg reported
Rees has a net worth of $1 billion, per Forbes, and Blue Owl Capital manages $94 billion. It was formed in 2021, and Rees, who is from Pittsburgh, has ventured into purchasing stakes in sports teams. In addition to his purported interest in the Steelers, Rees’ Dyal Capital, which merged with Owl Rock Capital to form Blue Owl, has stakes in the NBA’s Atlanta Hawks, Phoenix Suns, and Sacramento Kings.
Per Bloomberg, Rees is a lifelong fan of the Steelers, and despite growing up in Pittsburgh, he lived in Connecticut as of 2022, where he was named one of the richest people in the state. He was the original founder of Dyal Capital. On top of serving as the co-president of Blue Owl Capital, he’s also a member of the firm’s Executive Committee and on their Board of Directors. He’s also just 48 years old.
Harris also owns the Philadelphia 76ers, and the former Steelers minority owner had a big day today, as his Commanders traded DEs Montez Sweat and Chase Young, while the 76ers traded star James Harden to the Los Angeles Clippers. It seems like he could be close to making another big transaction if his share in the Steelers is indeed sold to Rees.