How Bob Iger’s future ‘possession’ of LA Lakers has – Business News
Media reviews of Bob Iger’s future “ownership” of the Los Angeles Lakers seem to have been enormously exaggerated, On The Money has realized.
Three weeks in the past, a flurry of headlines from main shops – the New York Times, the Wall Street Journal, the LA Times, you identify it – reported that “Bob Iger and Josh Kushner,” in that order, can be shopping for the enduring NBA franchise.
The natural implication can be that Iger is poised to own no less than 50% of the workforce underneath phrases of the $12.5 billion, blockbuster deal, which was cut with embattled Guggenheim Partners boss Mark Walter.
Media reviews of Bob Iger’s future “ownership” of the Los Angeles Lakers seem to have been enormously exaggerated, On The Money has realized. NBAE through Getty Images
The deal remains to be underneath review by the NBA, however the truth is, it’s Kushner – the 41-year-old brother of President Trump’s son-in-law, Jared – who would be the lone controlling shareholder of the Lakers, sources close to the scenario mentioned. Under NBA guidelines that requires him to personally own no less than 15% of the franchise, so Kushner himself will plunk down no less than $1.875 billion to get the deal accomplished.
How a lot will 75-year-old Iger be investing? That’s what a lot of people in Tinseltown are questioning.
Consider the truth that Forbes hasn’t weighed in on Iger’s internet price since 2019, when it pegged it at about $690 million. It’s not clear what Iger is price now, however on condition that a lot of his wealth has been tied up in underperforming Disney shares, most doubt it’s more than $1 billion.
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Kushner, in the meantime, has seen his fortune skyrocket to $16.7 billion this yr, in accordance with Forbes – up from $5 billion final yr – as his enterprise firm Thrive Capital’s shares in OpenAI have gone by way of the roof.
Here’s the fact: Iger is certainly poised to change into a main participant with the Lakers with regards to being a face of the workforce and an govt overseeing its operations – common supervisor, possibly. But he gained’t be the “governor” in NBA parlance who makes the ultimate choices, a source close to the talks advised me.
“Bob will not be the control person,” one individual close to Kushner advised me. “It is expected that Bob will be a minority owner, an alternate governor, and lead the management of the team day-to-day, but not the governor of the team.”
Here’s the fact: Iger is certainly poised to change into a main participant with the Lakers with regards to being a face of the workforce and an govt overseeing its operations – common supervisor, possibly. Corey Sipkin for NY Post
Another source close to the NBA who requested to not be recognized: “There can only be one governor per team and that will be Josh Kushner. He will be putting up the 15% ownership stake.”
Iger, in the meantime, can be amongst a consortium of traders who’re shopping for smaller slugs in a deal led by Kushner to amass Walter’s 64% stake within the Lakers. Walter’s business associate Todd Boehly, who additionally owns the UK’s Chelsea Football Club and a chunk of the LA Dodgers, presently stays a restricted associate within the Lakers, sources mentioned.
In many respects, Iger seems to be like the proper Lakers co-owner, having run Disney and its ESPN subsidiary and having crafted TV rights offers with the NBA up to now. He is thought to be close to NBA Commissioner Adam Silver.
Iger is thought to be close to NBA Commissioner Adam Silver, which is all the time a constructive when homeowners change fingers for the reason that league should bless the acquisition. Charles Wenzelberg / New York Post
Josh Kushner – the 41-year-old brother of President Trump’s son-in-law, Jared – would be the lone controlling shareholder of the Lakers, sources close to the scenario mentioned. REUTERS
The latter ought to be a constructive when homeowners change fingers for the reason that league should bless the acquisition. And yes, Silver actually needs the Lakers to be bought from its present possession given Walter’s financial points, which possible sparked the sale simply 14 months after he purchased the workforce.
Both events have been scrambling to set the file straight on precisely who can be controlling the Lakers since information broke final month that advised that Iger and Kushner are going to separate their possession stake within the Lakers.
Indeed, if this deal goes to proceed easily, the members would possibly wish to improve their communication. Last month’s flurry of Iger-Kushner headlines set tongues wagging in sports activities business circles, with some asking how Silver might presumably justify permitting Iger a controlling position within the workforce.
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“I can’t see Adam bending the rules, but none of this makes sense,” mentioned one prime sports-media govt who additionally owns a main franchise.
Another prime govt notes that Silver and Iger are close. Before naming D’Amaro his successor at Disney, Iger and the board reportedly thought-about Silver for the job. Disney additionally was one of three media corporations in 2024 that paid up for an 11-year media rights deal with the NBA, with the company forking over $2.6 billion a yr in a single of essentially the most profitable sports activities packages in historical past.
“These guys have a lot of history,” the chief famous – tactfully, one would possibly argue.
Through a spokeswoman, Iger declined to remark as did Kushner. An NBA spokesman mentioned Silver had no remark. Walter didn’t return a request for remark.
