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Tuesday, September 16, 2025

Warriors Selling Stake to Private Equity Firm

  • The Golden State Warriors are likely the first NBA team to sell a stake to a private equity firm.
  • With revenues down due to the pandemic, the NBA is more open to private equity money.
Kyle Terada-USA TODAY Sport/Design: Alex Brooks

The Golden State Warriors changed the game with their three-point shooting prowess, and now they’re pioneers in a different way. They may be the first NBA team to sell a stake to a private equity firm.

Arctos Sports Partners is buying 5% of the Warriors at a roughly $5.5 billion valuation. Recent media estimates valued the team as second in the NBA to the Knicks at $4.7 and $5.2 billion.

The Warriors are believed to be the first NBA team to sell to a private equity firm, but they won’t be the last.

  • CVC Partners is in talks to buy part of the San Antonio Spurs, at around a $1.3 billion valuation. 
  • Last July, the NBA granted rights to Dyal Capital Partners to create a fund to buy minority stakes in teams.

In January, the NBA opened the door to private equity firms, allowing them to have up to 20% of any one team and invest in up to five teams. Teams can be up to 30% owned by private equity firms. 

Though teams have historically been owned by individuals and small groups, the league changed its stance in part as a response to the COVID-19 pandemic after league revenues dropped 10% in the 2019-2020 season.

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