Blue Owl Capital Corp. has announced a minority equity stake acquisition in the Cleveland Cavaliers, marking its sixth investment in an NBA team. This investment, made through the Blue Owl HomeCourt Partners’ Fund, adds to stakes in teams like the Minnesota Timberwolves and Charlotte Hornets. The Cavaliers are valued at $4.8 billion, ranking 15th among NBA teams. HomeCourt, launched in 2020 with the NBA, allows private equity firms to own up to 20% of a team, with Blue Owl positioned as a pioneer in this sports investing strategy. Other firms, such as Apollo Global Management, are also entering this growing sector.
For additional details, you can explore the full press release here.
