Doug Ostrover, co-founder of investment firm Blue Owl Capital, has sold the remainder of his ownership stake in the Washington Commanders NFL franchise.

The sale comes as Blue Owl's stock price has experienced a significant decline, creating financial pressure for the executive. Ostrover had previously been among the investors in the team ownership group.

The Washington Commanders have undergone significant ownership changes in recent years, with the franchise being sold by longtime owner Daniel Snyder. The team has attracted various high-profile investors since the ownership transition.

Blue Owl Capital, which Ostrover co-founded, is a prominent alternative asset management firm that went public through a merger with a special purpose acquisition company. The firm manages billions in assets across credit and real estate strategies.

The timing of Ostrover's divestment reflects broader challenges facing investment firms as market conditions have shifted. Many alternative asset managers have seen their stock prices decline from previous highs as investors have reassessed valuations in the sector.