Diamond Sports Canada Acquires Ottawa BlackJacks — A Global Investment Poised to Elevate Canadian Basketball
By the Cosmos Franchise Sales Team | September 5, 2025
The sports world was rocked Diamond Sports Canada Inc., a sports investment subsidiary of Global Sports Fund Management Group, has completed its acquisition of the Ottawa BlackJacks, the Canadian Elite Basketball League’s (CEBL) first expansion franchise. Marking the first privately funded and international ownership in CEBL history, the move brings global expertise and financial muscle to the fast-growing league.
A Franchise with Roots
Launched in 2020 as the league’s first expansion team, the Ottawa BlackJacks were under the stewardship of Canadian Basketball Ventures LP until now. The team has played its home games at TD Place Arena, a historic venue in Ottawa that hosts multiple sports franchises.
Global Expertise Meets Canadian Potential
The new ownership group is led by Justin Pascoe (CEO) and Bandeli (Lee) Hagipantelis. Pascoe brings over 20 years of experience in elite sports administration, along with credentials from Melbourne Business School and Harvard University. He also owns Australia’s Newcastle Jets (A-League), highlighting his global sports pedigree. Justin Pascoe framed the acquisition as a long game:
“This process has been nearly eight months in the making… the CEBL and the Ottawa BlackJacks represent a sleeping giant in the Canadian sports landscape.”
Significance for CEBL & Canadian Basketball
This acquisition is a milestone for the league, expanding its ownership base beyond Canada and introducing private capital to fuel innovation. CEBL Commissioner and co-founder Mike Morreale emphasized the strategic alignment in vision.
“Their ownership strengthens both the team and the league… commitment to innovation, community engagement, and long-term growth perfectly aligns with the CEBL’s vision…”
What This Means for Stakeholders
- For fans and community: Expect enhanced engagement, events, and elevated game-day experiences.
- For sponsors and investors: The international backing signals confidence and fiscal stability.
- For the league: This could catalyze further private investment and fuel CEBL’s ambitions to become a global brand.
With this deal setting a new standard, the CEBL is on the precipice of rapid growth. Whether you’re exploring franchise ownership, partnerships, or sponsorship, now’s the moment to get in on the ground floor of Canadian basketball’s ascent.
Source:
Portions of this article reference reporting from TSN’s September 4 story, “Diamond Sports Canada acquires CEBL’s BlackJacks”
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