Wednesday November 29, 2023

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
Linkedin
Copy Link
Link Copied
Link Copied

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.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

San Antonio Spurs center Victor Wembanyama dribbles up the court in the first half against the Dallas Mavericks at the Frost Bank Center.

Wembanyama Spurs Debut Jersey Fetches Record Auction Price

The jersey sold for $762,000 — the most ever for an NBA rookie.
New York Knicks executive chairman James Dolan watches during the first quarter against the Cleveland Cavaliers at Madison Square Garden.

Knicks Owner Resigns From NBA Committees Amid Lawsuit

The Knicks are suing the Toronto Raptors for $10 million.

Amazon Wants Playoff Games As Part Of Potential NBA Deal

The streamer is one of many potential bidders for NBA rights.
podcast thumbnail mobile
Front Office Sports Today

Report Claims Sports Illustrated Publishes AI-Generated Articles

0:00
0:00

Featured Today

Lane Kiffin

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.
LSU Lady Tigers head coach Kim Mulkey reacts against the Iowa Hawkeyes during the NCAA Womens Basketball Final Four National Championship at American Airlines Center.
November 6, 2023

Who Is The Highest-Paid Women’s College Basketball Coach?

LSU rewarded Kim Mulkey after winning a national title after her second year leading the program.
The Pac-12’s Collapse Will Have Ripple Effects on College Basketball.
November 6, 2023

The Pac-12’s Collapse Will Have Ripple Effects on College Basketball

The existing Pac-12 host a college basketball season for the last time.
Favre Presley
November 3, 2023

Brett Favre Controversy Casts Shadow Over Mississippi Gubernatorial Race

Candidate Brandon Presley has made the scandal one of his talking points.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Wasserman
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
PFL Bellator

PFL Completes Acquisition of Bellator, Readies to Challenge UFC

“Today, the MMA market changed,” PFL Founder Donn Davis said.
CAA logo on side on building
November 13, 2023

CAA Forms Sports-Focused Investment Bank In Continued Expansion Push

Powerhouse agency looks to further expand dealmaking capabilities
November 14, 2023

German Soccer Pushing $1.1B Rights Deal To Private Equity Investors

Governing body mounting third attempt for outside investment
Sponsored

USGA’s Amanda Weiner on Delivering
Personalized Fan Experiences with
 AI and Automation

How the USGA is using AI to streamline content creation and distribution.
Mercedes-AMG Petronas driver George Russell drives on the track during the Formula One Las Vegas Grand Prix Launch Party at Las Vegas Strip.
November 10, 2023

Ticket, Hotel Prices Plummet As Las Vegas GP Nears

Lack of competitive drama for F1 event fuels market crash
November 9, 2023

McMahon Selling $713M In TKO Stock, CEO Emanuel Could Be A Buyer

Bombshell announcement to bring big changes to company's ownership structure
San Diego Padres shortstop Xander Bogaerts wears the ALS Lou Gehrig Day and Motorola patches during a game against the Chicago Cubs at Petco Park.
November 8, 2023

Major U.S. Sports Leagues Pull In Record $6.7B in Ad Revenue

Major U.S. sports leagues and teams saw big increases in ad revenues.
November 8, 2023

Sports A Bright Spot For Endeavor Amid Ongoing Turbulence

Majority interest in TKO, PBR fuel notable gains for company