Blue Owl's HomeCourt Partners' Fund Announces Minority Equity Investment in Cleveland Cavaliers

About this update from Blue Owl Capital Inc.

NEW YORK, July 6, 2026 /PRNewswire/ -- Blue Owl HomeCourt Partners' fund ("HomeCourt"), a division of Blue Owl's GP Strategic Capital platform, today announced it has acquired a minority equity stake in the Cleveland Cavaliers and its accompanying assets. Cleveland Cavaliers Owner Dan Gilbert will maintain his majority stake in the franchise. HomeCourt was formed in 2020 as a partnership with the NBA to provide institutional capital to the NBA ecosystem and support the long-term growth across the league, as well as improve market liquidity. By way of Blue Owl's strategic partnership with the NBA, the HomeCourt fund is the only pre-approved institutional investor that can purchase equity stakes in all 30 NBA franchises, enabling it to provide its investors with diversified access to the unique strength of the NBA. The Cavaliers' investment represents the sixth NBA franchise the fund has invested in since its launch. Previous investments include the Minnesota Timberwolves, Charlotte Hornets, Atlanta Hawks, Sacramento Kings and the Phoenix Suns. "Sports investing is a rapidly growing alternative investment strategy due to the diversification and stable income stream it can potentially provide investors," said Blue Owl co-president, Michael Rees. "Blue Owl HomeCourt Partners was one of the first strategies to recognize this opportunity and create a vehicle to bring this unique exposure to investors. We believe the Cavaliers are a compelling next investment for the business as a result of their immense discipline, strong culture and deep roots in the Ohio community. We are excited to partner with Dan Gilbert and the Cavaliers organization and look forward to what we hope is another exciting season." "Led by our Chairman Dan Gilbert, we take immense pride in the culture we have built and the high standard of operational excellence that defines our enterprise," said Cleveland Cavaliers Chief Executive Officer, Nic Barlage. "The addition of Blue Owl HomeCourt Partners to our ownership group, and the capital they bring, strengthens our competitive position within the NBA and across all our sporting properties. Together, we look forward to continuing to elevate the profile of Cavaliers' basketball and Rock Entertainment Group, while deepening our impact on the communities we serve." About Blue OwlBlue Owl (NYSE: OWL) is a leading asset manager t...

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