Diamond Sports Canada acquires CEBL's BlackJacks
Published
The Ottawa BlackJacks of the Canadian Elite Basketball League (CEBL), Canada’s largest professional sports league, announced today that the club has been acquired by Diamond Sports Canada Inc., a subsidiary of Global Sports Fund Management Group. The group is owned by Bandeli (Lee) Hagipantelis and Justin Pascoe, who also serves as Chief Executive Officer.
Pascoe brings more than 20 years of executive experience in elite-level sports administration. He holds an MBA from Melbourne Business School and has completed additional studies at Harvard University. Throughout his career, he has consistently elevated the profile of organizations across the sports, consumer products, automotive, and industrial sectors. In Australia, Pascoe has held senior leadership positions across multiple major sports, and he brings a global perspective through his work in private equity and the sports industry across North America and Europe.
In addition to his role with Global Sports Fund Management Group, he also currently serves as Owner of the Newcastle Jets, an Australian soccer club competing in the A-League. Based in Newcastle, New South Wales, the club is currently preparing for the Final of the Australia Cup.
"I feel incredibly privileged to be afforded the opportunity to help build a franchise that the entire community can be proud of,” said Pascoe. “This process has been nearly eight months in the making, and throughout that time, it’s become clear to me that the CEBL and the Ottawa BlackJacks represent a sleeping giant in the Canadian sports landscape.”
Added Pascoe, “Our focus is on creating a basketball franchise that fosters authentic engagement across all stakeholders — fans, community members, government, and corporate partners alike. We believe that by bringing our global operating experience to the table, we can complement the hard-working and talented staff here and help elevate the organization to new heights. This goes beyond just the BlackJacks. It’s about collaborating with Mike and the CEBL to drive league-wide awareness, deliver unforgettable experiences for fans, and create a sustainable, thriving league that embraces a growth mindset — one that aims to position Canadian basketball as a force on the global stage."
Diamond Sports Canada Inc. takes over ownership of the club from Canadian Basketball Ventures LP who had stewarded the team since their inception in 2020. They will serve as the first privately funded group with an ownership stake in the BlackJacks and the first international owners in CEBL history with their base of operations being located in New South Wales, Australia.
“Justin Pascoe and the Diamond Sports Canada Inc. group bring valuable international perspective and a wealth of sports business experience and sophistication to the Ottawa BlackJacks,” said Mike Morreale, Commissioner & Co-Founder of the Canadian Elite Basketball League. “Their ownership strengthens both the team and the league as we continue building a sustainable model for professional basketball in Canada. The group’s commitment to innovation, community engagement, and long-term growth perfectly aligns with the CEBL’s vision for what our teams represent, and we truly value the extension of our ownership table beyond Canada.”
Transition of team operations will begin immediately, with the seventh season of Ottawa BlackJacks basketball set to kick off in May 2026 at The Arena at TD Place.