Kushner and Iger Seek Minority Partners for $12.5 Billion Lakers Acquisition
Front Office Sports reports that Josh Kushner and Bob Iger are recruiting limited partners to join their ownership group for the Los Angeles Lakers, with entry points starting at $250 million. While the deal values the NBA franchise at a record $12.5 billion, the pair is currently offloading smaller equity slices ranging up to $300 million to meet capital requirements. The transaction remains on track to close in the coming months despite rumors of funding gaps.
Context from Industry Pulse
The massive valuation of the Lakers underscores a broader trend of soaring asset prices across professional basketball, a shift also reflected in the record-breaking commercial interest surrounding the recent WNBA Finals. As Mark Walter divests from the Lakers and reportedly explores a sale of the WNBA’s Sparks, the entry of private equity through Kushner’s Thrive Eternal signals a new era of institutional capital in the NBA. This capital influx is necessary as individual billionaires struggle to solo-fund acquisitions at these price points. Meanwhile, the legal dispute within the Buss family regarding their remaining stake adds a layer of complexity to the team's long-term governance, even if the primary sale to Kushner and Iger proceeds as planned.
"Once the deal closes, Kushner will be majority owner, while Iger will be a minority owner and will oversee day-to-day operations of the team, the same source says."
Josh Kushner and Bob Iger are actively recruiting minority investors for the Los Angeles Lakers, offering stakes beginning at $250 million. According to Front Office Sports, the duo is seeking individual contributions ranging between $250 million and $300 million, though some investors are expected to provide significantly higher amounts. This fundraising effort follows an earlier agreement to acquire the franchise from billionaire Mark Walter at a record-setting valuation of $12.5 billion.
Front Office Sports reports that once the transaction is finalized, Kushner will serve as the majority owner while Iger will hold a minority stake and manage the team’s daily operations. The acquisition structure utilizes recently updated NBA rules that allow investment firms to participate alongside their executives, facilitating involvement from Kushner’s firm, Thrive Eternal. Sources indicate the deal could be completed within the next few months, noting that filling out a roster of limited partners after an initial agreement has become standard practice for NBA acquisitions.
The sale comes amid a broader divestment of sports assets by Mark Walter. As Front Office Sports notes, Walter recently sold his interests in Chelsea and Strasbourg and is reportedly exploring a sale of the WNBA’s Los Angeles Sparks. While Walter’s business empire faces federal investigations regarding insurance disclosures, his representatives have denied that his recent activity constitutes a fire sale. Kushner and Iger have reportedly indicated they are not interested in purchasing the Sparks at this time.
Internal friction within the Buss family also surrounds the transition of ownership. Front Office Sports reports that the siblings of Jeanie Buss are seeking to sell the family’s 17.8 percent stake in the team, leading to a legal dispute in California state court. Jeanie Buss argues that a 2017 court order prevents such a sale, while her siblings contest that interpretation. Despite the litigation, sources informed Front Office Sports that the family’s legal battle is not expected to interfere with the proposed acquisition by Kushner and Iger.
The Industry Pulse Bottom Line
The move to retail smaller stakes at a quarter-billion dollars apiece proves that even the most high-profile buyers must now leverage syndication to digest modern NBA valuations. Iger’s operational oversight suggests the Lakers will prioritize media and entertainment synergy as their primary growth engine.