Blue Owl Capital's HomeCourt Partners fund has acquired a minority equity stake in the Cleveland Cavaliers and its related assets, expanding its portfolio of investments in professional basketball franchises. The transaction makes HomeCourt a minority investor while Dan Gilbert retains majority ownership and control of the team. Financial terms of the deal were not disclosed. 

HomeCourt Partners was established in 2020 through a strategic partnership between Blue Owl Capital and the National Basketball Association to provide institutional capital to NBA franchises while improving liquidity across the league. The fund is the only pre-approved institutional investor permitted to acquire stakes in all 30 NBA teams, giving investors diversified exposure to the league. The Cavaliers investment is HomeCourt's sixth NBA franchise investment, following stakes in the Minnesota Timberwolves, Charlotte Hornets, Atlanta Hawks, Sacramento Kings, and Phoenix Suns. 

Blue Owl said the investment reflects its strategy of investing in high-quality sports franchises that can generate long-term value for institutional investors. The firm highlighted the Cavaliers' strong organizational culture, disciplined management, and deep ties to the Ohio community as key reasons for the investment. Meanwhile, Cavaliers CEO Nic Barlage stated that bringing Blue Owl into the ownership group strengthens the organization's financial position and supports continued investment in the team's basketball operations, affiliated sports properties, and community initiatives.