The sports world was taken by surprise when billionaire Josh Kushner and former Disney CEO Bob Iger announced their acquisition of the Los Angeles Lakers for a staggering $12.5 billion. This record-breaking deal, the largest in sports history, has raised eyebrows and sparked conversations about the intersection of politics and business.
Kushner, known for his venture capital firm Thrive Capital and Iger, a seasoned media executive, have expressed their excitement and commitment to the franchise. However, the deal’s timing and the political backdrop have added layers of complexity to the narrative.
The Political Landscape of the Deal
Josh Kushner, the younger brother of Jared Kushner President Donald Trump‘s son-in-law and adviser, has long been known for his liberal leanings. Despite his family’s close ties to the Trump administration, Kushner has publicly supported liberal causes and political leaders. He did not vote for Trump in 2016 and was spotted at the Women’s March in Washington, D.C. that year.
Kushner’s wife, model Karlie Kloss has also been vocal about her political differences with her in-laws. In a recent interview with Bloomberg Kloss stated, “I’m a Democrat, and I think it’s possible to have relationships with people who you politically don’t align with.” This political divergence adds an intriguing dimension to the Lakers acquisition, especially given the Trump administration’s influence in the sports world.
The Business Implications
The Lakers’ sale comes just 14 months after Mark Walter purchased a majority stake from the Buss family at a $10 billion valuation. The quick turnaround has raised questions about Walter’s motives, particularly in light of the federal probe into his financial firm, Guggenheim Partners. The Justice Department and the Securities and Exchange Commission are investigating possible fraud related to private-credit deals involving insurers Walter owns.
Adding to the intrigue, Kushner’s deal to lead an investor group in buying a portion of FIFA’s business, including the World Cup, recently fell through. The Justice Department and Securities and Exchange Commission are looking into possible fraud related to private-credit deals involving insurers Walter owns and his Guggenheim Partners financial services firm, multiple outlets reported. Meanwhile, a coalition of FIFA members and executives effectively blocked the sale of a new FIFA spinoff to Thrive and other private investors, citing resistance to the involvement of private equity in the nonprofit FIFA organization. Trump has maintained he had no involvement in the FIFA deal, and the White House told Front Office Sports on Wednesday the Lakers sale “has nothing to do with President Trump or his administration.”
The Future of the Lakers
With the acquisition, Kushner and Iger have expressed their long-term commitment to building on the Lakers’ foundation and competing at the highest level. The team, led by superstar Luka Dončić remains one of the biggest draws in US sports. Dončić himself has welcomed the new ownership, stating, “I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise.”
The sale still needs to be completed, with the Kushner-Iger group conducting due diligence and seeking approval from the NBA’s board of governors. As the Lakers enter this new chapter, all eyes will be on how the new ownership navigates the political and business landscapes to steer the franchise forward.
