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Kushner and Iger shop Lakers minority stakes starting at $250 million
Josh Kushner and Bob Iger, who agreed to buy the Los Angeles Lakers at a record $12.5 billion valuation, are offering minority stakes in the team starting at $250 million, Front Office Sports reported.
Josh Kushner and Bob Iger are offering minority stakes in the Los Angeles Lakers to build out their ownership group, with stakes starting at $250 million, Front Office Sports reported, citing four sources.
The stakes are being marketed at $250 million to $300 million each, according to the report, and two sources said some investors will put in significantly more.
Kushner and Iger agreed over the summer to buy the team from Mark Walter at a record $12.5 billion valuation. Once the deal closes, Kushner will become majority owner, while Iger, the former Disney chief executive, will be a minority owner overseeing day-to-day operations. One source said the deal could close within a few months.
Podcaster Bill Simmons has claimed Kushner is $5 billion to $6 billion short of the purchase price, a claim one source told Front Office Sports is not true. A representative for Kushner and Iger declined to comment.
The Buss family is also involved in a California court fight over whether Jeanie Buss’s siblings can sell their 17.8% stake in the team.
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