DENVER -- The Guardians have been seeking a minority owner since 2019, when John Sherman left to purchase the Royals. MLB has approved David Blitzer's purchase of a 25 percent stake in the Guardians, with the option of becoming majority owner in six years.

"We did approve a sale of a minority interest in the Guardians, pending the closing," Commissioner Rob Manfred said at the Owners Meetings in New York. "Really excited about the change there."

In December of last year, Guardians chairman and CEO Paul Dolan confirmed a Sportico report that the team had discussions with Blitzer, who has been part owner of the NBA's Philadelphia 76ers and the NHL's New Jersey Devils for the past decade.