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Sport Dyal Capital nears deal for minority stake in Sacramento Kings - WSJ

23:01  11 july  2021
23:01  11 july  2021 Source:   reuters.com

Philip Anschutz selling 27 percent stake in Lakers to Dodgers owners Mark Walter, Todd Boehly, per report

  Philip Anschutz selling 27 percent stake in Lakers to Dodgers owners Mark Walter, Todd Boehly, per report Anschutz also owns Staples CenterThe deal does potentially affect the Lakers in two key ways, though. The first relates to their arena. Anschutz owns Staples Center through his company, AEG. The Lakers recently signed an extension to their lease at Staples Center through 2041. The second relates to a possible future sale. Anschutz's shares in the team granted him the right of first refusal in the event that the Buss family's majority stake in the team was ever sold.

(Reuters) - Dyal Capital is nearing a deal to make an investment in the Sacramento Kings National Basketball Association team, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

a group of people standing on a court: FILE PHOTO: NBA: Golden State Warriors at Sacramento Kings © Reuters/Cary Edmondson FILE PHOTO: NBA: Golden State Warriors at Sacramento Kings

The deal, which could be announced as soon as this week, would give the investment firm a nearly 5% stake in the team at a valuation of $1.5 billion, the newspaper said https://bloom.bg/3e55x56.

Dyal, a unit of the newly public Blue Owl Capital Inc, is best known for taking minority stakes in private-equity and credit firms. On July 6, Dyal said it would take a similar-sized stake in the Phoenix Suns.

Dyal is initially hoping to raise about $1 billion for the fund and plans to build a portfolio of minority investments in six different teams, with a goal of eventually doubling that, according to the report.

The parties were not immediately available for comment on Sunday.

(Reporting by Kanishka Singh in Bengaluru; Editing by Chizu Nomiyama)

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usr: 6
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