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The Golden State Warriors and the Boston Celtics are vying for the NBA's most coveted honor, and so are PE firms.

The teams kicked off game one of the NBA finals Thursday, and regardless of who wins the best-of-seven-game duel, a private equity firm will have a hand in raising the Larry O'Brien Trophy.

Both teams have significant ties to private equity or venture firms, with the Warriors being principally owned by Joe Lacob, a partner at Kleiner Perkins; Artcos Sports Partners owns a 13% stake in the franchise. The Warriors are also co-owned by Peter Guber, the CEO of Mandalay Entertainment.

The Boston Celtics have deep ties to private investment firms. Stephen Pagliuca, co-chairman of Bain Capital is a managing partner of the famed franchise. Minority owners include David Bonderman, co-founder of TPG; Jim Breyer, CEO of Breyer Capital; James Pallotta, founder of Raptor Group; Glenn Hutchins, co-founder of Silver Lake; and Jonathan Levin, co-managing partner at Bain Capital.

In April, we gathered data to show each playoff team's ties to private equity, if applicable, as well as the primary owners of each team and team valuations.

Here's a look back at how the playoff picture stood at the beginning of the playoffs, the trophy symbol indicates the two franchises competing in the NBA finals.
   
Private equity firms were first granted access to stakes in NBA teams in January 2021, following an initiative led by league commissioner Adam Silver. Previously, individuals associated with PE firms could own stakes or entire teams, but PE firms as an entity couldn't take part.

Under the new league rules, PE firms can own up to 20% of a single NBA franchise, and no team can collectively have greater than 30% of its ownership in the hands of multiple firms.

Private equity firms own stakes in four of this season's playoff-bound NBA teams, while private investment firm executives hold ownership shares in another four franchises.

This year is the third season that will include the NBA's play-in format for teams seeded 7-10. That means the 7- and 8-seeds are determined in a series of one-game playoff battles to round out the field of teams advancing to the postseason.

Featured image by Gearstd/Getty Images

This article originally appeared on PitchBook News