Blue Owl nearing deal for stake in Cleveland Cavaliers

Blue Owl Capital Inc. is reportedly close to acquiring a stake in the Cleveland Cavaliers from owner Dan Gilbert. The deal could see Blue Owl gain between 5% and 10% of the NBA franchise, following Gilbert's year-long efforts to sell a portion of the team. Previously, Blue Owl purchased a stake in the Phoenix Suns but sold it after the franchise changed ownership in 2023. The Cavaliers recently progressed in the playoffs, defeating the Detroit Pistons in a seven-game series, heightening interest in the franchise. Discussions are ongoing as the deal approaches completion.

• 1:14 AMYahoo Sports — Blue Owl near deal for stake in Dan Gilbert's Cleveland Cavaliers: Report