The Washington Commanders Director of Commanders, Josh Harris (L), signs a commanding helmet when he was joined by the mayor of Washington DC Muriel Bowser (C) and the NFL commissioner, Roger Goodell (R), during a press conference on the construction of a new commander in Washington, DC, April 28, 2025.
Win McNamee | Getty images
Over the past decade, the investor of investment in investment Josh Harris has built one of the largest conglomerates in sport.
Harris Blitzer Sports & Entertainment, with which he co -founded Black The David Blitzer setting in 2017, holds majority participations in several of the most precious sports leagues in the world. This includes challenges in the NFL Washington commanders, the NBA philadelphia 76ers, the NHL New Jersey Devils and the Premier League Crystal Palace. Earlier this year, the group paid franchise fees of $ 250 million for a Philadelphia WNBA extension team, which should start the game in 2030.
This quickly made HBSE one of the most precious sports property groups in the world. In fact, he ranked third in the list of CNBC’s most precious sports empires in 2025 at a value of $ 14.58 billion.
But these continuous growing evaluations raise a question that dates back to the Harris era as a investment capital director: HBSE or other sports teams and large ownership conglomerates, will they begin to go to public?
“I don’t think so,” CNBC Sport and Boardroom in Santa Monica, California told Scott Wapner on CNBC Sport.
“When you think that stock market and sports assets are public so far, they have been more appreciated as private assets,” said Harris. “You have not seen the public assessments exceed private assessments; therefore people have tended to keep them private.”
Madison Square Garden’s Sports workers, which include Knicks and New York Rangers, are among the only American sports teams to belong to public companies.
Harris said that if you look at these cases, “they generally negotiate below their intrinsic value, and they have not been adopted as much as we want.”
A great consideration prevented most public procurement clubs, said Harris.
“People have tended to keep them private because ultimately, as a person who runs a team, you want to be able to spend to win,” he said. “You want to be able to take a very long term perspective, and public procurement have not always adopted this.”
Harris won a massive victory for commanders this year, concluding an agreement of $ 3.7 billion to move the team from its current stadium to Landover, Maryland, in Washington, DC, on the field of the Robert F. Kennedy commemorative stadium.
“We are not going to see the benefits of this for years and years later,” he said.
Most of the teams, especially in the NFL, are intergenerational assets, and the leagues have opened up new ways of raising funds. Last year, the League voted to approve certain investment capital companies to take minority participations in the NFL franchises.
Harris has said that this approach has been positive so far.
“Many funds are long-standing funds, and they don’t have typical things that investment capital generally has, such as control,” he said. “This allows owners like me to think in the very long term, … They know in the long term that they bet on the city, the support of fans and the growth of the league.”