Dyal just dropped a dime investing in the Phoenix Suns. Execs at the firm broke down why they''re stepping in as billionaires can''t afford to buy NBA teams anymore. Summary List Placement Private investors have launched a full-court press to invest in the National Basketball Association. This time, on the team many pundits think will win this year''s NBA championship. Dyal HomeCourt Partners, a division of the $53 billion asset manager Blue Owl dedicated to backing NBA teams, on Tuesday bought a stake worth less than 5% in the Phoenix Suns, which valued the franchise at $1.55 billion. The investment comes as NBA teams'' valuations soar on the back of lucrative media deals, sports betting opportunities, and reliable cash sources from long-term sponsorships to stadia naming rights. While billionaires have been the typical cash cow, NBA franchises are now turning to deeper-pocketed institutional money to fuel ball clubs. "The league saw values getting to levels where mere mortals were not likely to be the only investors," Michael Rees, co-president Blue Owl told Insider, adding that valuations were "beginning to outstrip capacity for any one individual who wanted to write a check." Some 250-odd minority owners within the NBA have typically sought buyers through their own sales processes.