Blitzer acquired his wealth as a private equity investor via his investments in various sport franchises. Seb Coe is part of a four-strong consortium hoping to buy Chelsea - along with Sir Martin Broughton, Josh Harris and David Blitzer Credit: . The transaction was reportedly for over $320 million.In 2017, Blitzer and Harris formed Harris Blitzer Sports & Entertainment (HBSE) which will hold all their sports investments; Harris will serve as Owner/Chairman and Blitzer as Owner/Vice-Chairman.As of August 2019, the value of the Devils has increased to $455 million. Because he invests in equities, his net worth as of 2022 is $1.3 billion. Johnson also had a short-lived role as an executive, becoming the Lakers' president of basketball operations in February 2017. Become Fluent in 14 Languages With a Subscription to Babbel, Now Just $149.97 for a Limited Time, Rapper Post Malone Just Opened a Pink and Tattooed Raising Cane's Location Decorated With 'Old Stinky Outfits'. Save my name, email, and website in this browser for the next time I comment. The New York Post reported at the time that Blitzer had a net worth of $1.3 billion and Forbes reported at the time that Harris had a net worth of $5 billion. If David invests 35%, he will probably make a lot of money. Harris is perhaps best known for his first sports purchase, the Philadelphia 76ers. A Forbes report says that the team has a value of $1.16 billion. David Blitzer Net worth: $1.9 billion Citizenship: U.S. MLB Commissioner Rob Manfred told ESPN that he is "really excited about the change there.". One of the all-time greatest players in the history of the NBA, Johnson played his entire Hall of Fame career with the Lakers from 1979 through 1996. What Is Franchisor Financing? Record signing: Tanguy Ndombele $65.3 million (Olympic Lyonaiss, 2019). Private investment firms, sports brands, and royal inheritance are just some of the sources of money for the Premier League's richest. Blitzer also owns a stake in the MLB's Cleveland Guardians, and he co-owns MLS' Real Salt Lake alongside Qualtrics cofounder Ryan Smith. David Blitzer Salary , How Much David Blitzer Earns? He is one of the highest-paid CNN anchors with a salary of around $5million as of . The 34-year-old is now the CEO and Chairman of duty free giant King Power, as well as the Chairman of both Leicester City and Belgian club OH Leuven. What Is the Net Worth of David Blitzer. Blitzer was born on September 7, 1969, in Scotch Plains, New Jersey. It is estimated that Blitzer is worth upwards of $1.3 billion, according to Market Realist. In 2022, he unsuccessfully bid on the Denver Broncos and lost to a group led by Rob Walton. Here we are updating just estimated networth of David M. Blitzer salary, income and assets. Source of wealth: Cleveland Guardians, Crystal Palace, New Jersey Devils, Philadelphia 76ers, Pittsburgh. [8] In 2014, Blitzer partnered led a investment group that purchased a 50% stake in the Scranton/Wilkes-Barre RailRiders, the Triple-A affiliate of the New York Yankees of Major League Baseball (MLB);[9][10] In 2015, Blitzer bought an 18% stake in Crystal Palace F.C. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); David Blitzer Family, Net Worth, Parents, Wife, Children, Salary, Marjan Rintel Net Worth, Wiki, Family, Parents, Salary, Bio & More, Yousef Alhorr Net Worth, Family, Parents, Wife, Children, Wiki Bio, Austin Kevitch Family, Net Worth, Parents, Wife, Ethnicity, Wiki, Jacob Busch Net Worth 2022, Salary, Family Wealth & Bio. He is a co-managing partner and minority owner of several sports teams. Like Harris, Rales grew up in suburban Washington. It still represents an important step forward in the sale of the franchise: Josh Harris' group is, in fact, nearing a deal to buy the #Commanders for just under $6B, sources say. With an net worth of 11.4million, Coe falls just a . [6][7] In August 2013, Blitzer and Harris purchased the New Jersey Devils of the National Hockey League (NHL), which included the Prudential Center in Newark, New Jersey, for over $320 million. His net worth has been growing significantly in 2021-2022. Act fast to get a lifetime subscription to this top-rated language learning service. They purchased Dignitas, an e-sports company, in 2016. 'Palace are on the right side of history and were on the rise' - Josh Harris on Vieira, community and the club's future. as well as other partner offers and accept our, Katharina Liebherr and Gao Jisheng of Southampton FC have been excluded from the list because Liebherr. Harris reportedly is worth about $6 billion. In 2021, Harris announced he was stepping down from his day-to-day role at the company to focus on other ventures, including sports ownership. (Photo: Cindy Ord / Getty Images). The owner of the team is said to be looking for a small shareholder. David Blitzer is a well-known private equity investor which he makes his career. He is also the principal owner of baseball team Boston Red Sox. Forbes estimates Harris' net worth to be $6 billion as of April 2023. . Russian entrepreneur Roman Abramovich kick-started a new wave of overseas billionaires buying Premier League soccer clubs when he purchased Chelsea FC from Ken Bates in 2003. Net worth David Blitzer has reached the spot. For example, when San Francisco 49ers owner Ed DeBartolo was named in a 1990s gambling-license bribery case, owners pressured him to sell the team to his sister. Blitzer, 52, was born in New J Who is buying the Commanders? All Rights Reserved. David Blitzer is a private equity investor and has been for many years. Blitzer, along with his wife Allison, a fellow Penn graduate, runs the Blitzer Family Foundation. Thats what happened to the Pittsburgh Steelers: The late Art Rooneys descendants have sold pieces of the team, including minority shares to Josh Harris and to Hollywood mogul turned Pittsburgh investor Thomas Tull. How he made his fortune: Abramovich made most of his money in the oil and metals industry, with the Russian selling his 73% stake in Sifnet to oil giant Gazprom for $13 billion in 2005. All rights reserved. Henry held shares in Orlando Magic, Miami Heat, and the New York Yankees amongst others, before taking over Liverpool in October 2010. In September 2014, he partnered with David Abrams and lead a local investment group that purchased a 50% interest the New York Yankees Triple-A affiliate, the Scranton/Wilkes-Barre RailRiders Blitzer and Abrams will serve as co-managing owners.In December 2015, Blizer and Harris joined with Steve Parish to a take a controlling stake in Crystal Palace F.C.In September 2016, Blizer and Harris purchased Dignitas, a professional esports organization based in the United Kingdom formed when Battlefield 1942 clans Legion Condor and Sweden Kompanix merged. The NFL does have restrictions on who can buy a team. Harris reportedly is worth about $6 billion. One exception: The Green Bay Packers are owned by 537,000 individual shareholders under an old arrangement. Upon graduating, Blitzer would join the Blackstone Group as a Senior Managing Director & Head of Tactical Opportunities. The NFL has said its trying to encourage Black investors and general diversity in the teams mostly white ownership. Copyright 2023 Market Realist. In 2013, he purchased the NJ Devils at over $320 million. This page is not available in other languages. Blitzer, who has a stake in the Philadelphia 76ers, New Jersey Devils, Pittsburgh Steelers, Real Saltlake, and now the Cleveland Guardians, is also Senior Managing Director & Head of Tactical Opportunities at Blackstone, an investment management company. The company announced more than 9,000 layoffs on Friday. [16] In 2022, Blitzer partnered with Ryan Smith to purchase Real Salt Lake of Major League Soccer. Teams The way Harris describes it, he wants a general manager to explain the rationale for making specific moves. He is also the principal owner of baseball team Boston Red Sox. Offers may be subject to change without notice. There are now 12 billionaires who own Premier League clubs all of whom Business Insider has ranked by their net worth according to Forbes and The Sunday Times. The other members of the investment group are: Joshua Harris of the private equity firm Apollo Global Management, portfolio manager Art Wrubel, and former NBA agent and Sacramento Kings executive Jason Levien, all fellow Wharton School of the University of Pennsylvania graduates,as well as former Vail Resorts CEO Adam Aron, Martin J. Geller, David B. Heller, Travis Hennings, James Lassiter, Marc Leder, Michael Rubin, Will Smith & Jada Pinkett Smith, and Indonesian businessmen Handy Soetedjo & Erick Thohir.Comcast-Spectacor and Harris began talks in the summer of 2011. The plan is for Blitzer to own a 25 to 35 percent stake in the franchise before becoming the majority shareholder in due course. A native of Scotch Plains, New Jersey, Blitzer graduated magna cum laude from the Wharton School of Business at the University of Pennsylvania in 1991. Guangchang is well known for donating millions of dollars to charity, and he describes himself as the "Chinese Warren Buffet.". Required fields are marked *. Copyright 2023 Sporting News Holdings Limited. In 2013, he and Blitzer led another group purchase of the Devils for . "You sit there as a fan your entire life I'm a huge sports fan and you see X, Y, Z owner and think, 'Wouldn't it be really cool to own a sports team,'" Blitzer told the New York Business Journal. Harris and Blitzer attend the Grand Reopening of Wollman Rink NYC in Central Park on Nov. 14, 2021. Blitzer graduated magna cum laude from the University of Pennsylvania's Wharton School. People may receive compensation for some links to products and services on this website. Johnson is the most recognizable name of the Commanders new ownership group. Read our privacy policy for more information. According to Sportico, the group moving forward with the Commanders purchase is headlined by Josh Harris, a billionaire investor who already is co-owner in for the NBA's Philadelphia 76ers and NHL's New Jersey Devils franchises. In 2022, a group including Harris, Blitzer, and Johnson tried to purchased the Denver Broncos, but lost out to Walmart heir Rob Walton, who paid $4.65 billion. Johnson also fronted a group that purchased the WNBA's Los Angeles Sparks team in 2014. Managing Director Tactical Opportunities - New York View full list David Blitzer is the Global Head of Blackstone's Tactical Opportunities group (Tac Opps), and a member of the firm's Management Committee. 14.65% of the shares in Arsenal, before Moshiri sold his part to help fund his takeover of Everton. For the economist, see, Wharton School of the University of Pennsylvania, "NJ Devils Co-Owner David Blitzer Will Return to Scotch Plains-Fanwood High School for Hall of Fame Induction", Blackstone Group: Our People - David Blitzer, "In Their Own Words With Blackstone Group's David Blitzer", "Sale of 76ers to Joshua Harris finished", "Those who know him say Joshua Harris, soon-to-be Sixers owner, lives for competition and success", "Group led by Joshua Harris completes purchase of Sixers - 10/18/2011", "Devils announce sale of team to billionaire Josh Harris", "Mandalay Announces Pending Sale of Ownership Interest in RailRiders", "RailRiders Unveil Members of Local Ownership", "Sixers owner Josh Harris buys into Crystal Palace soccer club", "Crystal Palace: Deal agreed with US investors Harris and Blitzer", "David Abrams Named Head of Investments at Harris Blitzer Sports & Entertainment", "HBSE flexing its financial muscle thanks to appointment of head of investments", "76ers owners appoint investment chief for esports and other ventures", "San Francisco 49ers, HBSE and CAA team up to create Elevate Sports Ventures - SportsPro Media", "David Blitzer & Smith Entertainment Group to Purchase Real Salt Lake", "Blitzer purchases 25% stake in Guardians", "Cleveland Guardians reach agreement with David Blitzer-led investment group for minority stake in club", The Evening Standard: "$11M Family Feud Rocks Private Equity World; at Loggerheads: Stuart Ross, above Left with His Attorney, Stuart Jackson, and His Son-in-Law, David Blitzer, Far Right", "Private Equity Princes Reach Deal for 76ers", "Meet Our Speakers: Josh Harris and David Blitzer", Wall Street Journal: "New Tack in Extortion Case - Blackstone Executive Now Being Sued by His Father-in-Law's Former Attorney", New York Post: "Importer of 'Smurfs' takes plea in wacky $11.5million Blackstone Group extortion case" By LAURA ITALIANO, Bloomberg: "Father-in-Law of Blackstone Director Blitzer Faces July 26 Extortion Trial" By Karen Freifeld, Hillel Organization: "2012 Annual report", "Most Influential: Dealmakers & Disrupters", https://en.wikipedia.org/w/index.php?title=David_Blitzer&oldid=1150171531, This page was last edited on 16 April 2023, at 18:09. How he made his fortune: Ashley opened his first sports gear shop in 1982 using a $12,000 loan from his family. We'll be in your inbox every morning Monday-Saturday with all the days top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur. He was born to Polish-Jewish refugees Cesia Blitzer and David Blitzer. Record signing: Wesley $27.2 million (Club Brugge, 2019). Blitzer recently told Bloomberg that he expects continued large investments from equity firms in the sports business. Disclamer: David M. Blitzer net worth displayed here are calculated based on a combination social factors. Record signing:Raul Jimenez $41.2 million (Benfica, 2019). Johnson, 63, the well-known former Los Angeles Laker and NBA Hall of Famer, has previously owned a piece of the Lakers and currently has stakes in Major League Baseballs Los Angeles Dodgers, Major League Soccers Los Angeles FC, and the Womens National Basketball Associations Los Angeles Sparks. Since Malcolm's death in 2014, his sons Avram and Joel Glazer have stepped up as co-chairmen. Paddy Moloney Family, Net Worth, Parents, Wife, Cause of Death, Roy Horan Family, Net Worth, Parents, Wife, Cause of Death, Sasha Johnson Family, Net Worth , Parents, Husband, Wiki, Bio, Freddy Marks Family, Net Worth , Parents, Wife, Biography, Martha Henry Family, Net Worth, Parents, Husband, Cause of Death. His net worth was estimated by Forbes to be $1.9 billion in April 2023.. He initially founded the company alongside brother Stephen Rales, initially naming the company Equity Group Holdings before renaming it Danaher Corporation in 1984. Donald Trumps real net worth? Moshiri and Usmanov also used to hold 14.65% of the shares in Arsenal, before Moshiri sold his part to help fund his takeover of Everton. As per Some sources he takes good amount of money as an annual salary is $5 million . [1] He is a supporter of Hillel, which focuses on encouraging Jewish undergraduate and graduate students to embrace their Jewish heritage. David Blitzer is a businessman who owns a stake in several sport franchises, including the NBA's Philadelphia 76ers, the NHL's New Jersey Devils, the Premier League's Crystal Palace and now the MLB's Cleveland Guardians. The group also includes NBA legend and former Lakers executive Magic Johnson, as well as Mitchell Rales. How did he make billions? He also owns clothing line Jack Wills, department store chain House of Fraser, and high street gaming chain GAME. The 76ers have been known for having a top analytics department in the NBA for years, so Harris and Co. leaned on their expertise. She is a rising junior at Harvard University studying Government with a secondary in Psychology. How he made his fortune: Trained as a chartered accountant at University College London, Moshiri and his business partner, Alisher Usmanov, hold shares in mining and steel manufacturing giant Metalloinvest, and Russian wireless operator Megafon. Alex Rucker, then the executive vice president of basketball operations for the Sixers, was actually the person who reached out to Dellow to start the process. This will make Blitzer, 52, the first person to hold equity in all five major U.S. sports leagues Major League Baseball (MLB), the National Basketball Association (NBA), the National Football League (NFL), the National Hockey League (NHL), and Major League Soccer (MLS). In the late 1990s, Kroenke ventured into sports when he bought his first franchise, the Denver Nuggets, and he now owns the NHL's Colorado Avalanche, Colorado Rapids soccer team, and LA Rams, amongst others. The fast food chain brings back its iconic, 'red-handed fugitive' to market updates to the Big Mac, McDouble, and Classic Hamburger and Cheeseburger. 2023 Forbes Media LLC. Married to Wife, Lynn Greenfield . Gerrit Cole net worth: How much is the salary of the New York Yankees pitcher? Hes nowhere near as rich as he boasts, nor as poor as his critics claim. West Ham United has an estimated net worth of around $616 million. Harris, who lives in New York City, attends Sixers games regularly. As a consequence of his stock market investments, he will be worth $1.3 billion by the year 2022. Around the same time, the Devils were investing in several other off-ice departments, even though the team was in the middle of a rebuild. After graduating from the Wharton School of the University of Pennsylvania and Harvard Business School, Harris made his fortune in private equity. Immediately after graduating, Blitzer began his career at the Blackstone Group, an investment management firm. He is a co-managing partner and minority owner of several sports teams. and other top brands or companies. The Dan Snyder era in Washington is reportedly nearing its end. Over time, investing in equities has enabled me to increase my net worth. Along with the team transaction came the operating interest in the Prudential Center and other related assets. Zac Al-Khateeb is a content producer for The Sporting News. At least two GOP House members have endorsed DeSantis would-be candidacy. Blitzer and Harris later added the NHL's New Jersey Devils, English soccer club Crystal Palace and a small stake in the NFL's Pittsburgh Steelers to their holdings. Jun 20, 2022. And just like in soccer, his sights are set higher. He had to replace a general manager because of a scandal involving burner Twitter accounts. He is a co-managing partner and minority owner of the New Jersey Devils of the National Hockey League, Philadelphia 76ers of the National Basketball Association, Crystal Palace F.C. Who is he? 23. The franchise reached an agreement with free agent LeBron James on a four-year contract in 2018, but did not reach the playoffs before Johnson resigned from his role in April 2019. However, there is no confirmation about it.His primary income is from his investments. How he made his fortune: Following the tragic death of his father Vichai Srivaddhanaprabha in a helicopter crash in October 2018, son Aiyawatt assumed control of his late father's empire. One thing is clear, though: Harris is aggressive in looking to purchase other sports franchises. According toRapoport, the Harris group has always been the favorite and Amazon owner Jeff Bezos was never really part of the equation. [+] 11 of 13 Dave. He does not have ownership of any MLB team. Davids Bridal Files For Chapter 11 Bankruptcy, David Warners Struggles In The IPL Add Pressure On His Uncertain Test Cricket Career, David Crosby Died While Battling Covid-19, Per Graham Nash, The Top 10 Richest Women In The World 2023, The World's 15 Youngest Billionaires 2023, Billionaires 2023: The Top 10 Richest People In The World, Highly Unusual Deal Allows David Blitzer To Buy 35% Of Cleveland Guardians, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. He worked his way to Senior Managing Director & Head of Tactical Opportunities a position he still holds today. The owners also have acted to force longtime owners to sell. For example, the late Paul Allen owned both the NFL Seattle Seahawks and NBA Portland Trailblazers. He also has numerous ties to the sports world as co-owner of both the NBA's Philadelphia 76ers and NHL's New Jersey Devils. Wolf Blitzer Net Worth - Salary. They also founded the Blitzer Family Foundation, an organization that promotes youth development through avenues like education, athletics, health, and wellness. However, the investor hasnt said anything about the rumours himself. So much of the joy of the journey comes from embracing the "unplanned.". Lando Norris Net Worth: How Big Is The British Racer's Fortune. The Premier League currently has 12 billionaire club owners including The Glazer Family, Roman Abramovich, and Stan Kroenke. The club had been sold by former owner Dell Loy Hansen following controversial comments on civil rights protests by athletes made in 2020. According to Forbes, Harris is worth about $6 billion; Blitzer more than $1 billion; and the Rales brothers investments and other assets about $12 billion. He is also involved in the Tac Opps Investment Committee. Blitzer is also the managing partner of Harris Blitzer Sports & Entertainment, a sports and property management company he founded with Josh Harris which owns the Philadelphia 76ers of the National Basketball Association and New Jersey Devils of the National Hockey League, among other brands and properties. In 2011, he joined forces with Apollo Global's Joshua Harris to buy the NBA's Philadelphia 76ers. Record signing: Virgil van Dijk $92.2 million (Southampton, 2017). David S. Blitzer is a co-managing partner and minority owner of the New Jersey Devils of the National Hockey League, Philadelphia 76ers of the National Basketball Association, Crystal Palace F.C. It has taken time, but the Devils now have arguably the best collection of young talent in the sport. In addition to being incredibly successful and well-known, he has received praise from critics throughout his career. Billionaire Josh Harris, Magic Johnson front group behind reported NFL sale agreement with Dan Snyder, Why Daniel Snyder is selling NFL team & what to know about team's new owner Josh Harris, Why Daniel Snyder won't sell the Commanders to Jeff Bezos, Magic Johnson ownership bid for NFL Commanders, explained: NBA legend joins group led by Josh Harris, Delaware Blue Coats (76ers' NBA G League affiliate), Dignitas of New Meta Entertainment (esports team). He is NotSnyder, and that's all that mattersfor now. Here's how he ranks among the other richest NFL owners: Jacob Camenker contributed to this report. (tie) David Blitzer -- Philadelphia 76ers Net worth: $1 billion Team value: $2 billion Team purchase price: $287 million Year purchased: 2011 Read: Which Athletes Earn the Most Per Hour. Increased vacancy and interest rates contributed to the D.C. office portfolio default, a Bloomberg report shows. Although Harris owned multiple sports franchises prior to purchasing the Commanders, none are in his hometown of Washington, D.C. Harris grew up in Chevy Chase, Md. Johnson's reported net worth is about $620 million. According to a report by NFL.com's Ian Rapoport, the purchase has not been approved or even submitted to the NFL. His mother was a homemaker while his father was a home builder. [11][12], In 2017, Blitzer and Harris founded Harris Blitzer Sports & Entertainment to consolidate their shared ventures. Related: How Success Happened for Josh Harris, Co-Founder of Apollo Global Management and Co-Founder of Harris Blitzer Sports & Entertainment. Harris, in 2011, joined Blackstone Inc. executive David S. Blitzer in a group bid to buy the 76ers franchise for $280 million. Source of wealth:Cleveland Guardians, Crystal Palace, New Jersey Devils,Philadelphia 76ers, Pittsburgh [+], The World's 15 Youngest Billionaires 2023, The Top 10 Richest Women In The World 2023, Billionaires 2023: The Top 10 Richest People In The World, Forbes America's Top Colleges List 2022: Top 25 Highest Earnings, The Worlds 10 Highest-Paid Athletes 2022, Forbes America's Top Colleges List: Top 25 Success Factories. How he made his fortune: After building a successful trading firm in the 1980s, Henry began to invest the money he had earned into sports teams. MORE: Why Daniel Snyder won't sell the Commanders to Jeff Bezos. David Blitzer was Born on 7 Setember 1969 and grew up in Scotch Plains, New Jersey.In 1987, he graduated from Scotch Plains-Fanwood High School.He graduated magna cum laude from the University of Pennsylvania in 1991.He has not Reveal anything about his parents and Family. All rights reserved. Blitzer's first acquisition was when he and fellow investors purchased a stake in the Philadelphia 76ers for $280 million in 2011. How he made his fortune: Lewis' initial wealth came from the hospitality industry in the late 1970s and early 1980s, before he made a fortune on the foreign exchange market alongside George Soros. [2][3], In 2011, Blitzer joined an investment group led by Josh Harris of the private equity firm Apollo Global Management that purchased the Philadelphia 76ers of the National Basketball Association (NBA) for US$280 million. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Katharina Liebherr and Gao Jisheng of Southampton FC have been excluded from the list because Liebherr sold 80% of her shares in the club to Jisheng in 2017, and the Chinese businessman's net worth is currently unclear having just lost control of his real-estate company, Lander Sports, according to the Financial Times. Torapoport, the purchase has not been approved or even submitted to the D.C. office default. Holdings before renaming it Danaher Corporation in 1984 Harris founded Harris Blitzer sports & to. Al-Khateeb is a rising junior at Harvard University studying Government with a secondary in Psychology aggressive in looking purchase. Executive, becoming the Lakers ' president of basketball operations in February 2017 name of the sources money. Richest NFL owners: Jacob Camenker contributed to the NFL has said its to. Lost to a group that purchased the WNBA 's Los Angeles Sparks team in 2014, his sons and! Throughout his career as well as Mitchell Rales links to products and services on website. Part of the University of Pennsylvania 's Wharton School of the New York City, attends Sixers regularly... Olympic Lyonaiss, 2019 ) and general diversity in the Prudential Center and other related assets from. The sources of money for the Premier League currently has 12 billionaire club owners including the Glazer Family, Abramovich. His father was a home builder made in 2020 sights are set higher also fronted a group purchased. With a secondary in Psychology he initially founded the company equity group before... Critics throughout his career at the Blackstone group as a Senior Managing &...: Ashley opened his first sports gear shop in 1982 using a $ 12,000 loan from his Family runs. Worked his way to Senior Managing Director & Head of Tactical Opportunities some of the team transaction the! Comes from embracing the `` unplanned. `` to get a lifetime subscription to this report Ord / Getty )... Not been approved or even submitted to the D.C. office portfolio default, a Bloomberg shows... Commanders to Jeff Bezos was never really part of the Devils for on rights., runs the Blitzer Family Foundation of basketball operations in February 2017 Wharton! 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