HomeCourt was formed in 2020 as a partnership with the NBA to provide institutional capital to the NBA ecosystem and support the long-term growth across the league, as well as improve market liquidity. By way of Blue Owl's strategic partnership with the NBA, the HomeCourt fund is the only pre-approved institutional investor that can purchase equity stakes in all 30 NBA franchises, enabling it to provide its investors with diversified access to the unique strength of the NBA. The Cavaliers' investment represents the sixth NBA franchise the fund has invested in since its launch. Previous investments include the Minnesota Timberwolves, Charlotte Hornets, Atlanta Hawks, Sacramento Kings and the Phoenix Suns.

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