The Cleveland Cavaliers are nearing a deal to sell a …
· Yahoo Sports
The Cleveland Cavaliers are nearing a deal to sell a 5% to 10% stake in the NBA franchise to private equity firm Blue Owl. The deal values the NBA team and Cleveland WNBA team set to start play in 2028 at a combined $5.5 billion, according to someone familiar with the agreement. Blue Owl’s sports strategy fund buys limited partner stakes in NBA franchises, a fund originally named Dyal HomeCourt. The fund already has stakes in the Atlanta Hawks, Charlotte Hornets, Minnesota Timberwolves and Sacramento Kings.
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This article originally appeared on Hoops Hype: The Cleveland Cavaliers are nearing a deal to sell a …