{
  "id": 1920654,
  "title": "One of the VC world’s biggest stars is doubling down on sports in a big way, and there’s a compelling tax reason behind the strategy",
  "url": "https://urgent.news/2026/08/19/one-of-the-vc-worlds-biggest-stars-is-doubling-down-on-sports-in-a",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T10:25:10.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/08/19/joshua-kushner-bob-iger-lakers-sports-team-stake-tax-deduction-benefits-intangible-assets/"
  },
  "original_language": "en",
  "account": "Fortune reporter Jason Ma reveals that Thrive Capital founder Joshua Kushner is making a substantial investment in the Los Angeles Lakers, joining a select group of elite investors. Kushner previously held a minority stake in the Memphis Grizzlies and sold it to purchase a small share in the Miami Heat. He has now acquired a minority stake in the San Francisco Giants, with the Lakers deal expected to bring his ownership to around 83% after the Buss family's remaining shares are sold. Despite the Lakers' storied history, celebrity fans, and overall sophistication, there is an additional incentive for Kushner's investment: sports teams are considered excellent tax shelters for wealthy individuals. Tax expert Ram Ahluwalia explains that owning a sports team can provide significant tax benefits, allowing billionaires to offset millions in income. By amortizing assets such as media rights, player contracts, and the stadium, as well as treating players as intangible assets, team owners can lower their tax bills. Analyst Joe Pompliano predicts that the new owners will allocate most of the price tag to intangible assets, which can be depreciated over 15 years under Section 197 of the tax code.",
  "summary": "Thrive Capital founder Joshua Kushner's $12.5 billion deal with former Disney CEO Bob Iger to buy the Los Angeles Lakers vaults him into an elite club.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}