Blue Owl Capital’s HomeCourt Partners fund has acquired a minority stake in the NBA’s Cleveland Cavaliers, according to a report by Bloomberg.
Financial terms were not disclosed. Bloomberg previously reported that the Cavaliers were in advanced talks to sell between 5% and 10% of the franchise to Blue Owl. The team is valued at $4.86bn, according to Sportico, making it the 16th most valuable franchise in the NBA.
HomeCourt Partners, which focuses on minority investments in NBA teams, also holds...
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