NBA teams have been selling limited partner stakes at premiums, and the Memphis Grizzlies are no exception
of a 2.5% stake in the Memphis Grizzlies by Joshua Kushner valued the basketball team at $1.32 billion, according to two people familiar with the transaction.a combined 28% stake from Steve Kaplan and Daniel Straus almost a year ago, and a premium toIn a separate deal, Kushner's former Harvard classmate Brandon Arrindell bought a small piece of the Grizzlies. My sources did not know Arrindell's stake , although it is believed to be comparable to Kushner's.
Typically, the small pieces of sports teams are sold at discounts—anywhere from 20% to 30%—to what a controlling interest would fetch because limited partners usually have no say in how the team is run yet may have to make capital calls. The size of the discount depends on how profitable the team is, how much faith the limited partners have in the general partner, what dividends investors can expect, and the team's financial prospects.
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