How Bob Iger’s future ‘possession’ of LA Lakers has been exaggerated…
Media studies of Bob Iger’s future “ownership” of the Los Angeles Lakers seem to have been significantly exaggerated, On The Money has realized.
Three weeks in the past, a flurry of headlines from major shops – the New York Times, the Wall Street Journal, the LA Times, you title it – reported that “Bob Iger and Josh Kushner,” in that order, will likely be shopping for the iconic NBA franchise.
The pure implication can be that Iger is poised to personal at the least 50% of the team under phrases of the $12.5 billion, blockbuster deal, which was lower with embattled Guggenheim Partners boss Mark Walter.
Media studies of Bob Iger’s future “ownership” of the Los Angeles Lakers seem to have been significantly exaggerated, On The Money has realized. NBAE by way of Getty Images
The deal is still under review by the NBA, however the fact is, it’s Kushner – the 41-year-old brother of President Trump’s son-in-law, Jared – who will likely be the lone controlling shareholder of the Lakers, sources near the scenario said. Under NBA guidelines that requires him to personally personal at the least 15% of the franchise, so Kushner himself will plunk down at the least $1.875 billion to get the deal finished.
How a lot will 75-year-old Iger be investing? That’s what quite a bit of people in Tinseltown are questioning.
Consider the fact 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 given 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, meanwhile, has seen his fortune skyrocket to $16.7 billion this yr, according to Forbes – up from $5 billion last yr – as his enterprise agency Thrive Capital’s shares in OpenAI have gone by way of the roof.
Here’s the actuality: Iger is certainly poised to grow to be a major participant with the Lakers in terms of being a face of the team and an government overseeing its operations – basic supervisor, perhaps. But he received’t be the “governor” in NBA parlance who makes the final selections, a source near the talks told me.
“Bob will not be the control person,” one particular person near Kushner told 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 actuality: Iger is certainly poised to grow to be a major participant with the Lakers in terms of being a face of the team and an government overseeing its operations – basic supervisor, perhaps. Corey Sipkin for NY Post
Another source near 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, meanwhile, will likely be among a consortium of buyers who’re shopping for smaller slugs in a deal led by Kushner to amass Walter’s 64% stake in the Lakers. Walter’s enterprise associate Todd Boehly, who also owns the UK’s Chelsea Football Club and a piece of the LA Dodgers, presently stays a restricted associate in the Lakers, sources said.
In many respects, Iger appears like the good Lakers co-owner, having run Disney and its ESPN subsidiary and having crafted TV rights offers with the NBA in the past. He is understood to be near NBA Commissioner Adam Silver.
Iger is understood to be near NBA Commissioner Adam Silver, which is always a constructive when house owners change arms since the league must bless the buy. Charles Wenzelberg / New York Post
Josh Kushner – the 41-year-old brother of President Trump’s son-in-law, Jared – will likely be the lone controlling shareholder of the Lakers, sources near the scenario said. REUTERS
The latter must be a constructive when house owners change arms since the league must bless the buy. And sure, Silver actually needs the Lakers to be offered from its current possession given Walter’s monetary points, which doubtless sparked the sale just 14 months after he purchased the team.
Both events have been scrambling to set the file straight on precisely who will likely be controlling the Lakers since news broke last month that advised that Iger and Kushner are going to separate their possession stake in the Lakers.
Indeed, if this deal goes to proceed easily, the individuals may need to enhance their communication. Last month’s flurry of Iger-Kushner headlines set tongues wagging in sports activities enterprise circles, with some asking how Silver might probably justify permitting Iger a controlling position in the team.
“I can’t see Adam bending the rules, but none of this makes sense,” said one top sports-media government who also owns a major franchise.
Another top government notes that Silver and Iger are shut. Before naming D’Amaro his successor at Disney, Iger and the board reportedly thought of Silver for the job. Disney also was one of three media firms in 2024 that paid up for an 11-year media rights cope with the NBA, with the company forking over $2.6 billion a yr in a single of the most profitable sports activities packages in historical past.
“These guys have a lot of history,” the government famous – tactfully, one may argue.
Through a spokeswoman, Iger declined to remark as did Kushner. An NBA spokesman said Silver had no remark. Walter didn’t return a request for remark.
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