Blue Owl HomeCourt Partners announced that it has acquired a minority equity stake in the Cleveland Cavaliers and accompanying assets. Cleveland Cavaliers owner Dan Gilbert will maintain his majority stake in the franchise.
HomeCourt is a division of Blue Owl’s GP Strategic Capital platform. The fund was formed in 2020 through a partnership with the NBA to provide institutional capital to the NBA ecosystem and support long-term growth across the league.
Through Blue Owl’s strategic partnership with the NBA, HomeCourt is the only pre-approved institutional investor that can purchase equity stakes in all 30 NBA franchises. The strategy gives investors diversified access to the NBA as an alternative investment opportunity.
The Cavaliers investment marks the sixth NBA franchise investment for HomeCourt since launch. Previous investments include the Minnesota Timberwolves, Charlotte Hornets, Atlanta Hawks, Sacramento Kings, and Phoenix Suns.
Blue Owl said the Cavaliers represent a compelling investment because of the organization’s discipline, culture, and roots in the Ohio community. The investment also adds institutional capital to the Cavaliers ownership group while supporting the broader growth of Rock Entertainment Group.
The Cleveland Cavaliers were founded in 1970 and play at Rocket Arena in downtown Cleveland. The team won the NBA Championship in 2016 and has captured Eastern Conference titles in 2007, 2015, 2016, 2017, and 2018.
The Cavaliers are part of Rock Entertainment Group, the umbrella entity for sports and entertainment properties under Dan Gilbert’s ROCK Family of Companies. Nic Barlage serves as CEO of the Cavaliers, Rocket Arena, and Rock Entertainment Group.
Blue Owl is an alternative asset manager with $315 billion in assets under management as of March 31, 2026. The firm invests across Credit, Real Assets, and GP Strategic Capital platforms.
KEY QUOTES:
“Sports investing is a rapidly growing alternative investment strategy due to the diversification and stable income stream it can potentially provide investors. 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.”
Michael Rees, Co-President of Blue Owl
“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. 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.”
Nic Barlage, CEO of the Cleveland Cavaliers
