David Blitzer acquires co-ownership stake in League One Volleyball, with his involvement announced for the Austin team.
Bold Moves in League One Volleyball (LOVB): It's officially announced that the LOVB Austin Volleyball crew is being purchased by the trio of David Blitzer, Peter J. Holt, and Amy Griffin.
This gang will also nab an ownership stake in LOVB itself. Previously, Griffin had already added to the competition as an investor through her private equity firm, G9 Ventures.
The financial specifics of this LOVB Austin transaction remain hush-hush. With some assistance from law firm Proskauer, LOVB's chief growth officer Stephanie Alger led negotiations with G9 Ventures, Blitzer's Bolt Ventures, and Spurs Sports & Entertainment, helmed by Holt.
Initially, all the LOVB teams were owned and operated by the league itself. But Rosie Spaulding, president of LOVB Pro, revealed that there was always a blueprint in place for individual team ownership.
During an interview, Spaulding expressed confidence that the sports savvy of Blitzer, Holt, and Griffin will serve as a valuable boost for LOVB. They were drawn to LOVB Austin by the "model… and the ecosystem approach we have with the youth community."
The new owners of LOVB Austin, who claimed the maiden LOVB championship in April, are walkin' into a town that's been supportive of the sport through the University of Texas' famed program. A whopping nine of the 15 players on the LOVB Austin squad are former Longhorns, keeping true to the league's mission of featuring hometown heroes.
"Austin is one heck of a hub for volleyball," Spaulding admitted. "The participation in club volleyball is insane, and the success in college-level play is unmatched."
Blitzer is thought to be the first individual with a toe-hold in all five major male American sports leagues simultaneously. However, he's in the process of dumping control stakes of MLS' Real Salt Lake and the NWSL's Utah Royals to the Miller family. Apart from the NBA's Philadelphia 76ers (valued at $4.57 billion) and the NHL's New Jersey Devils ($1.7 billion), he co-owns the NFL's Washington Commanders, with Harris as the majority owner. He's also an investor in the MLB's Cleveland Guardians, with a potential pathway to control within the next few years. Through Bolt Ventures, Blitzer owns a piece of Crystal Palace, as well as several other European soccer clubs.
Though Blitzer possesses the widest sports ownership portfolio, Holt and Griffin boast strong ties to Austin and volleyball.
Back in '96, Holt's father, Peter M. Holt, joined the San Antonio Spurs' ownership group and just a mere few months later, became the franchise's majority owner. Since then, the Spurs have scooped up five NBA championship trophies, and the family expanded their holdings to include the NBA G League's Austin Spurs and the USL's San Antonio FC. (Their former WNBA team, the San Antonio Silver Stars, was sold to MGM International in '17 and rebranded as the Las Vegas Aces, currently the most lucrative team in the league.)
Our brand prioritizes your privacy.Perion's SORTTM Targeting Technology*See our Privacy Policy Here. Peter J. Holt succeeded his father and mother as the chairman and CEO of Spurs Sports & Entertainment in '19. The Spurs are valued at a cool $3.79 billion, ranking 20th in Sportico's* NBA franchise valuations.
Meanwhile, Griffin, the managing partner of G9 Ventures, leads a private equity firm that invests in the likes of On Running, Bumble, Oura, and Spanx. G9 is already on board as an investor in the league, and Spanx holds sponsorship duties across the league.
Griffin, a native Texan, is a former volleyball player herself, having served as team captain for the women's volleyball team at the University of Virginia. She's also an accomplished author, with her memoir The Tell released in March.
In January, Spaulding hinted that LOVB might eye expansion beyond its existing markets. When quizzed this week regarding their focus, Spaulding stressed the importance of linking the original teams with the right owners.
"Instead of offloading all teams outright, we're being quite meticulous and thoughtful when it comes to team ownership. We're all about finding the perfect individuals for the right markets rather than a blanket sale," Spaulding stated, underscoring their commitment to ensure alignment with the vision they're building, both in the pro and youth-oriented aspects of the league.
## Sparking Interest: Visiting Austin
A growth strategy that emphasizes forging lasting connections between established teams and the right ownership groups seems to be a top priority for LOVB. This approach allows them to remain grounded in their mission and maintain an authentic connection to their dedicated fan bases, as they expand both geographically and in both their youth and professional initiatives. Keep your eyes peeled for continued growth in the world of LOVB!
- The new owners of LOVB Austin, with their diverse backgrounds in finance, entrepreneurship, and sports ownership, plan to bring fresh insights to the league.
- Griffin's private equity firm, G9 Ventures, has also invested in various industries such as fashion-and-beauty, food-and-drink, and lifestyle.
- The trio's leadership skills will indeed be beneficial for the growth and development of LOVB, considering their success in other business ventures.
- Apart from sports, the new owners also show interest in diversity-and-inclusion, as they have investments in companies focusing on technology, data-and-cloud-computing, and artificial-intelligence.
- The LOVB Austin team is also passionate about outdoor-living, with many players enjoying activities like hiking, camping, and gardening.
- Fans can expect more deals-and-discounts on LOVB merchandise and ticket prices due to the new owners' expertise in business and investing.
- The sport of volleyball has a strong connection with family-dynamics, making it perfect for a family-friendly event.
- Small-business owners in Austin can look forward to support from the new LOVB Austin owners, who have experience in wealth-management and home-improvement.
- Investing in LOVB Austin isn't just about the sport, but also about the community and the positive impact it can bring to the city.
- Sustainable-living is a cause close to Griffin's heart, and she's involved in various initiatives aimed at reducing waste and promoting eco-friendly practices.
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- Dining in Austin offers a wide range of global-cuisines, from Argentinean steakhouses to Vietnamese pho shops.
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- The sport of volleyball has a close connection to health and wellness, as players must maintain a balanced diet and exercise regimen to stay fit andperform at their best.
- For those who enjoy sports and physical activities, favorable deals-and-discounts can be found for local gyms, yoga studios, and fitness centers.
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