And yet, it’s not a lie. In the span of 14 months, the Los Angeles Lakers have been put up for sale—and sold—twice! Once from the Buss family to Mark Walter, and once from Mark Walter to a group consisting of Josh Kushner and Bob Iger.
According to news networks in the United States, the total value of the deal is close to 12.5 billion dollars, while Walter (who is under intense scrutiny from federal authorities) had made the acquisition for 10 billion.
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However, if anything is worth noting, it is how quickly the acquisition was carried out by Kushner and Eiger. As Sam Amick reveals, the proposal reached Walter’s office just last Friday. Within five days, all the necessary procedures and discussions were completed so that the majority stake in “Limnanthropoi” could pass into the hands of its new owners. The sale of one of the most historic sports brands on the planet took place in less than a week—as if they were… rushing it!
When Kushner contacted Walter directly, the latter wasn’t necessarily looking to sell the team. However, when the offer was made, he couldn’t… say no, especially since he was in urgent need of “cash.” The American billionaire’s company, known as TWG Global, is currently in talks with investors—in parallel with the Lakers’ sale process—to raise funds that will help repay loans on the books of his insurance companies, which had been placed under scrutiny by the Department of Justice
If anything is worth noting (as they point out, at least on the other side of the Atlantic), it is that both Kushner and Aiger maintain very good relations with NBA Commissioner Adam Silver.
This is Josh Kushner, the man buying the Lakers
The name Josh Kushner has been a hot topic in sports for some time now, and a few days ago, when FIFA announced that 20% of its controlling stake would be put up for sale. The leading prospective buyer was the Lakers’ new “boss.” The deal didn’t go through, but the born-and-raised New Yorker is finding his footing in a different way.
Joshua Kushner is the founder and CEO of the investment firm “Thrive Capital,” which invests in tech startups. Thrive has funded companies such as OpenAI, Instagram, and Twitch. He is one of the most successful technology investors in the United States, and his brother is married to Donald Trump’s daughter. He is also a partner in Oscar Health, a company active in the private health insurance sector in North America. His total net worth is $5.2 billion.
*Photo source: AP
