Dan Gilbert Set to Sell 5–10% Minority Ownership Stake in Cavs and Upcoming WNBA Team

7 minutes ago

Dan Gilbert Set to Sell 5–10% Minority Ownership Stake in Cavs and Upcoming WNBA Team

The Cavaliers are preparing to sell a 5-10% ownership stake to private equity firm Blue Owl. The Cavs and the upcoming WNBA team will be valued at a combined $5.5 billion in the deal. Dan Gilbert retains control of the team while Blue Owl expands its NBA portfolio, adding to their minority stakes in the Hawks, Hornets, Timberwolves, and Kings.

By Pranay Mukherjee

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