NBA Grants Approval for Arctos' Minority Ownership in Golden State Warriors
Golden State Warriors Sold a Minority Stake to Arctos Sports Partners for $1.4 Billion
The Golden State Warriors, the second most valuable team in the NBA according to Sportico's rankings, have sold a minority stake to Arctos Sports Partners, a private equity firm based in New York City. The deal values the team at roughly $5.5 billion, making it one of the most significant investments in an NBA franchise to date.
The NBA's Board of Governors agreed to the sale, allowing private equity and other institutional investors to own up to 20% equity in a single franchise. This move marks a shift in the league's rules, which were loosened in January to accommodate such investments.
Arctos Sports Partners, which had about $900 million in assets at the end of last year, plans to invest across sports franchises. The firm's debut funds have now grown to $1.4 billion, following the successful purchase of approximately 5% of the Golden State Warriors.
Sportico first reported on the deal last month, but both the NBA and Arctos declined to comment on the transaction. The Warriors, who opened their new San Francisco arena in 2019, are currently valued at $5.21 billion, according to Sportico's rankings.
Despite the sale, the Warriors didn't immediately return a request seeking comment. It remains to be seen how this investment will impact the team's operations and future performance. However, it's clear that the Golden State Warriors continue to be a lucrative asset in the sports world.
In accordance with the league's rules, funds may now own stakes in a maximum of five teams. This could pave the way for further investments in NBA franchises by private equity firms in the future.
As the sports industry continues to grow, investments like these are likely to become more common. With the NBA's new rules and Arctos' ambitious plans, the landscape of sports ownership is set to change significantly in the years to come.
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