Dyal HomeCourt Partners inks minority equity investment with Suns
Jul 6, 2021, 8:48 AM
Fans cheer after the Phoenix Suns scored against the LA Clippers during the second half of game one of the Western Conference Finals at Phoenix Suns Arena on June 20, 2021 in Phoenix, Arizona. (Photo by Christian Petersen/Getty Images)
(Photo by Christian Petersen/Getty Images)
The Phoenix Suns marked Blue Owl’s Dyal HomeCourt Partners’ first investment within the NBA.
The Suns announced the minority equity stake on Tuesday.
“The injection of institutional capital into the NBA will be a tremendous benefit to the league and its owners and the Suns are proud to be Dyal HomeCourt’s first investment,” Suns owner Robert Sarver said in a press release.
“We look forward to a fruitful relationship with the Dyal team moving forward.”
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HomeCourt is the only private equity fund pre-approved by the NBA to invest in multiple franchises. It was unanimously approved by all 30 NBA teams as the first pre-approved institutional buyer of stakes in NBA funds, the team said in the release.
The partnership provides its investors with “diversified access” to the NBA.
“We are delighted to partner with Robert Sarver and the Suns organization as HomeCourt’s inaugural investment,” Blue Owl co-president Michael Rees said.
“The Suns have made incredible strides both on and off the court in recent years and we believe that, under Robert’s leadership, the best is yet to come.”
The Suns face off against the Milwaukee Bucks in Game 1 of the NBA Finals on Tuesday night.
Tune to 98.7 FM Arizona’s Sports Station at 6 p.m. for all the action.
