Blue Owl Capital is in advanced talks to purchase a minority interest of between five percent and 10 percent in the Cleveland Cavaliers, according to Bloomberg.
The investment would be made through the firm’s Dyal HomeCourt Partners fund, which already owns minority stakes in the Atlanta Hawks, Sacramento Kings and Minnesota Timberwolves. Sportico values the Cavaliers at approximately $4.86 billion, ranking the franchise as the NBA’s 16th most valuable team.
The Cleveland Cavaliers are owned by Dan Gilbert, founder and majority owner of Rocket Companies. Gilbert has reportedly explored selling up to a 15 percent stake in the team since last summer. The Cavaliers reached the Eastern Conference Finals during the 2024-25 season, marking their deepest playoff run since LeBron James departed the franchise in 2018.