TLDR:
- Keith Stone, a Florida-based investor, has committed to investing in the Blue Owl NBA fund.
- The Blue Owl fund has minority ownership stakes in several NBA franchises, including the Phoenix Suns, Minnesota Timberwolves, Sacramento Kings, and Atlanta Hawks.
Keith Stone, a successful financial services executive, has committed to investing in the Blue Owl NBA fund. CapStone Holdings, Stone’s family office based in Florida, has pledged an undisclosed amount of money to the fund, which is known for holding minority ownership stakes in NBA franchises. The fund, previously known as Dyal Homecourt, was the first to gain NBA approval for such investments in 2020. Stone, a graduate of Eastern Michigan University, has a history of investing in sports, global real estate, and technology companies through CapStone.
The Blue Owl fund has previously held ownership in the Phoenix Suns, exiting profitably when the club was sold to Mat Ishbia. The fund currently holds stakes in the Minnesota Timberwolves, Sacramento Kings, and Atlanta Hawks. Stone’s investment will provide a welcome boost to the fund, which has assets totaling approximately $645 million. Stone’s commitment to invest in the NBA fund is part of his broader focus on acquiring minority and majority ownership in sports franchises, as well as making strategic investments in sports technology companies.
Keith Stone’s success in the financial industry, including the sale of his payments firm for hundreds of millions of dollars, underscores his ability to identify lucrative investment opportunities. With his commitment to the Blue Owl NBA fund, Stone is further solidifying his presence in the world of sports investments and technology ventures, positioning himself as a key player in the industry.
