Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.
Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.
Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.
Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.
Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.
Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.
Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.
Alex Rodriguez and Marc Lore have secured a minority investor within the Minnesota Timberwolves as they attempt to finalize their deal to take majority possession of the crew and WNBA counterpart Minnesota Lynx from Glen Taylor.
Blue Owl HomeCourt, a $700 million fund managed by a division of publicly-traded Blue Owl Capital, has acquired a minority stake within the Timberwolves, a supply acquainted with the deal informed the Star Tribune. The proportion of that acquisition was not disclosed.
The $1.5 billion acquisition by Lore and Rodriguez was set to shut by the top of March, when Lore and Rodriguez’s stake within the crew would leap from 40% to 80%. Sources say the acquisition ought to nonetheless shut on schedule.
A earlier potential investor, Carlyle Group, a Washington, D.C.-based funding agency, determined to not transfer ahead in a deal that will have supplied structural financing to Lore and Rodriguez, a supply acquainted with the negotiations informed the Star Tribune this week.
The take care of Carlyle was meant to help the following possession cost.
HomeCourt was fashioned in 2020 as a partnership with the NBA “to offer institutional capital to the NBA ecosystem” and is used to accumulate minority fairness stakes from minority shareholders of NBA groups. As such, its possession stake doesn’t require NBA approval.
The fund has beforehand invested within the NBA’s Sacramento Kings, Atlanta Hawks and Phoenix Suns. In 2022, HomeCourt acquired a 6% fairness stake within the Hawks from 9 present minority shareholders.
Carlyle’s funding required NBA approval, however the two sides couldn’t attain an settlement throughout negotiations, the supply stated. Consequently, Carlyle backed out of the deal.
Different shops reported the NBA blocked the deal, however NBA spokesman Mike Bass stated the league “didn’t deny Carlyle’s proposed funding within the Minnesota Timberwolves and Lynx.”
The Timberwolves declined to remark.
The NBA beforehand said the transaction will shut following league approval. Taylor, who additionally owns the Star Tribune, acquired the Timberwolves in 1994.
The Timberwolves are valued at $2.5 billion, the second-lowest of the 30-team league, however nonetheless practically 4 instances the crew’s worth a decade in the past, in line with Forbes.
Inside its portfolio of investments, Carlyle Group supplies financing to companies excited about buying entities in sports activities and leisure. The agency, which completed 2023 with $426 billion in belongings underneath administration, has deployed greater than $4 billion into sports activities and leisure since 2018 and just lately reached an settlement to accumulate the Seattle Reign FC of the Nationwide Girls’s Soccer League.
David Rubenstein, who co-founded the Carlyle Group, earlier this yr purchased the Baltimore Orioles for $1.75 billion.