Cramer Says Investors Want a Strong Balance Sheet, Not A Cavaliers Deal - Blue Owl Capital (NYSE:OWL)

Jim Cramer is taking aim at Blue Owl Capital (NYSE:OWL), arguing the private equity firm is drifting away from investor priorities as it explores a minority stake in the Cleveland Cavaliers.

In a Friday post on X, Cramer questioned the move directly, writing: "More disappointment: why is Blue Owl not focused on IMPROVING its balance sheet….

The Cavs?

Really?"—a jab at the firm’s growing push into sports ownership rather than financial fundamentals.

The deal under discussion would see Blue Owl acquire roughly a 5% to 10% stake in the NBA franchise through its Dyal HomeCourt Partners fund, which has already built a portfolio of team investments, including stakes in the Sacramento Kings, the Minnesota Timberwolves, and the Atlanta Hawks.