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Monday, September 15, 2025
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Dyal Moves To Invest In Second NBA Team

Kyle Terada-USA TODAY Sports/Design: Alex Brooks

Dyal Capital is reportedly nearing the end of discussions to acquire close to 5% of the Sacramento Kings through its Dyal HomeCourt Partners fund, according to The Wall Street Journal.

The deal would value the Kings at $1.5 billion to $1.8 billion and mark another major NBA investment for Dyal, whose HomeCourt fund is looking to raise an initial $1 billion to purchase stakes in at least six teams.

In the seven months since the NBA agreed to allow private equity firms to purchase stakes in teams, there has been a flurry of action:

  • Dyal purchased under 5% of the Phoenix Suns last week, valuing the team at $1.55 billion — four times owner Robert Sarver’s investment in 2004.
  • The Golden State Warriors were the first team approved to sell a piece of the team to a private equity firm in May. Arctos Sports Partners bought a 5% stake.
  • Sixth Street purchased a 20% stake in the San Antonio Spurs last month, valuing the team at an estimated $1.8 billion.

The Kings were sold to a group led by tech mogul Vivek Ranadivé in 2013 for a then-record valuation of $535 million.

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