Josh Kushner, Bob Iger Shopping Lakers Stakes Starting at $250 Million
Sources tell FOS there has been massive interest in minority stakes.
Josh Kushner and Bob Iger are offering minority stakes in the Los Angeles Lakers to investors, with each stake starting at $250 million, according to Front Office Sports. The duo, who bought the Lakers from Mark Walter in the summer for a record $12.5 billion, are seeking to sell minority stakes between $250 million and $300 million each.
There will be investors putting in significantly higher amounts, sources say. This follows reports that Bill Simmons said on his podcast that Kushner is short $5 billion to $6 billion on capital for the acquisition, and that Iger is only putting in around $63 million. However, one source debunks this, stating that there has been strong demand for the Lakers deal.
The transaction could be finalized within the next few months, with Kushner becoming the majority owner and Iger a minority owner overseeing day-to-day operations. It's common for NBA team buyers to finalize deals and then add more investors. The Buss family, who have owned the Lakers since 1979, are reportedly in a legal dispute over selling their stake, but this doesn't affect the proposed deal with Kushner and Iger.
Written by urgent.news from Front Office Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
