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Saturday, May 18, 2024

Dyal Buys Close to 6% of the Atlanta Hawks

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Bill Streicher-USA TODAY Sports/Design: Alex Brooks

Dyal HomeCourt Partners has purchased about a 6% equity stake in the Atlanta Hawks, reportedly valuing the team at nearly $2 billion.

Hawks majority owner and Ares Management co-founder Tony Ressler, who purchased the team for $850 million in 2015, did not participate in the sale — the stakes were sold by nine minority shareholders.

Dyal Capital, a division of Blue Owl, launched Dyal HomeCourt Partners in 2020 as a partnership with the NBA — Dyal HomeCourt is the only institutional investor allowed to purchase a pool of minority stakes in an unlimited amount of NBA teams.

Earlier this year, The Wall Street Journal reported that the fund was looking to initially raise $1 billion for stakes in six teams. Blue Owl has $82.9 billion in assets under management.

The Hawks are the third NBA franchise Dyal HomeCourt Partners has invested in. 

  • The Phoenix Suns reached a $1.55 billion valuation following Dyal’s acquisition of a 5% stake in July 2021.
  • The Sacramento Kings hit $1.8 billion following Dyal’s investment.

NBA’s Investment Firms 

Dyal isn’t the only firm to take a stake in an NBA franchise. Sixth Street invested a reported $360 million for a 20% stake in the San Antonio Spurs in June.

Arctos, which purchased a 5% stake in the Golden State Warriors earlier this year, announced plans to raise their stake in the team to 13%, which would value the team at $5.5 billion. In September, the firm purchased a 17% stake in the Sacramento Kings.

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