As a refresher: NBA rules state a PE firm cannot be the largest stakeholder in a team; the controlling owner must contribute 15% of the purchase price, and a PE firm with a minority stake can own only 20% or less than 15% if the controlling owner has only 15%. Chisholm has a PE firm, Symphony Technology Group, but a different PE firm, Sixth Street, has committed more than Chisholm himself so far, Axios reported last month. At that time, a source told Front Office Sports Chisholm is clear on NBA rules and “plans on becoming the single biggest owner of the team,” our senior news editor Dennis Young reported. To share a bit more about that: I’ve had two very in-the-know sources tell me in just the past week that Chisholm has been actively calling other rich team owners—including a deep-pocketed NFL owner—to ask if they want to buy in. (Chisholm’s reps declined to comment.)
by Hoops Hype