Deals

Billionaire Thomas Tull Is in Talks to Increase Stake in Steelers

Harris, Blitzer exploring sale of small interest in team
Deal would come amid surging valuations for sports franchises

Baltimore Ravens v Pittsburgh Steelers — Photographer: Joe Sargent/Getty Images North America

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By Giles Turner and Gillian Tan

August 30, 2023 at 8:02 PM UTC

Updated on

August 30, 2023 at 10:10 PM UTC

This article is for subscribers only.

Billionaire Thomas Tull is vying against rival bidders as he seeks to increase his ownership in the NFL’s Pittsburgh Steelers by acquiring a small stake from sports investors Josh Harris and David Blitzer, according to people with knowledge of the matter.

Harris and Blitzer bought a stake of less than 5% in the team in 2020, Bloomberg News has reported. They’re exploring a sale after a group led by Harris won the auction for another team in the league, the Washington Commanders, earlier this year. NFL rules mandate that a majority owner can’t hold an interest in another franchise.