LeBron James’ finances under scrutiny after report he borrowed $300 million
LeBron James borrowed money from insurance agencies with ties to Guggenheim.
LeBron James is under increased scrutiny over his financial dealings following a report from Bloomberg. According to the article, the NBA star borrowed $300 million from insurers, arranged by Guggenheim, a financial services firm owned by Mark Walter. Walter previously owned the Los Angeles Lakers, selling the team to Josh Kushner and Bob Iger.
The story does not suggest any wrongdoing or cap circumvention related to LeBron's decision to re-sign with the Lakers. The transactions were independently credit-rated and approved by the NBA. LeBron's spokesperson stated that James had no affiliation with the involved parties beyond their roles in the transactions.
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