Bob Iger and Josh Kushner are lining up investors willing to put at least $250 million into the Los Angeles Lakers as they move toward completing a takeover that values the NBA franchise at a record $12.5 billion, despite questions about whether they have enough money to close the deal.
The prospective owners have been offering minority stakes starting at $250 million to $300 million, with some investors expected to contribute significantly more, Front Office Sports reported Friday, citing four sources familiar with the transaction.
The fundraising effort comes amid conflicting accounts of the deal’s financial health. Sports commentator Bill Simmons claimed Thursday that Kushner was struggling to secure enough money to complete the acquisition, but sources familiar with the transaction have pushed back, describing strong investor demand and a deal that could close within the next few months.
Simmons said on his podcast that Kushner was still $5 billion to $6 billion short of the necessary financing. One source told FOS that Kushner was not having difficulty raising money, while two others described significant demand for a stake in the franchise.
Still, the identities of the prospective minority investors remain unclear, as does how much financing has been secured.
Kushner, the founder of Thrive Capital, is expected to become the Lakers’ majority owner when the deal closes, while Iger, the former Disney CEO, would take a minority stake and oversee day-to-day operations, according to FOS.
For Iger, the acquisition would mark another major step into professional sports following his departure from Disney’s top job earlier this year. He and his wife, Willow Bay, acquired a controlling stake in the National Women’s Soccer League’s Angel City FC in 2024. Iger also returned to Thrive in an advisory role in April.
Kushner and Iger reached an agreement in August to acquire a controlling interest in the Lakers from billionaire Mark Walter at a $12.5 billion valuation. Walter had acquired majority control of the franchise last year in a transaction valued at $10 billion. The latest sale requires approval from the NBA’s board of governors.
The ownership transition also comes amid a legal dispute involving the Buss family’s remaining 17.8% stake in the Lakers. Jeanie Buss and her siblings are fighting over whether that interest can be sold, although FOS previously reported that the disagreement would not affect the Kushner-Iger transaction.
Jeanie Buss is expected to remain the Lakers’ governor under a separate agreement reached with Walter last year, even as the team’s controlling ownership changes hands.
For now, the deal’s precise closing date and the final composition of its ownership group remain unresolved.
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