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Josh Kushner

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Lakers Leadership Faces Existential Threat Under New Owners
sports15 days ago

Lakers Leadership Faces Existential Threat Under New Owners

The Los Angeles Lakers’ leadership faces severe pressure to deliver immediate success as new owners Bob Iger and Josh Kushner scrutinize the team’s performance. General manager Rob Pelinka and coach JJ Redick held a press conference filled with literary metaphors, acknowledging the difficulty of rebuilding without LeBron James. While Redick expressed confidence in the new roster’s chemistry, the tone suggested a lack of clear direction, raising concerns about job security for both executives.

via Los Angeles Times|
#jj-redick#josh-kushner#los-angeles-lakers
Iger’s Lakers ownership claim overblown as Kushner takes controlling stake
business1 month ago

Iger’s Lakers ownership claim overblown as Kushner takes controlling stake

Media reports that Bob Iger would own a controlling share of the Los Angeles Lakers have been greatly exaggerated. Kushner is expected to be the lone controlling shareholder with at least 15% ownership, while Iger would be a minority investor potentially involved in day-to-day operations but not the governor of the team. The deal centers on Walter’s 64% stake for about $12.5 billion and is still under NBA review, with other principals like Todd Boehly remaining limited partners. Iger’s exact net worth is unclear, but the emphasis in coverage is on his role rather than full control.

via New York Post|
#bob-iger#business#josh-kushner
sports1 month ago

UEFA seeks Kushner testimony in FIFA investment plan controversy

UEFA has asked a Manhattan federal judge to subpoena Josh Kushner and Thrive Capital to testify and produce records about FIFA's now-abandoned FIFA Forward Enterprise plan to monetize private investment. UEFA argues the disclosures are needed as part of potential Swiss criminal proceedings against FIFA President Gianni Infantino for alleged mismanagement, while stressing that Kushner and Thrive are not being targeted for prosecution.

via Politico|
#fifa#josh-kushner#private-investment
Kushner’s AI Bets Drive Thrive’s Surge as Lakers Bid Looms
business1 month ago

Kushner’s AI Bets Drive Thrive’s Surge as Lakers Bid Looms

Josh Kushner’s Thrive Capital rode bets on OpenAI and SpaceX to a surge in wealth, lifting his net worth to about $16.7 billion and pushing Thrive’s assets under management above $65 billion; a SpaceX IPO boosted Thrive’s SpaceX stake toward $10 billion, Cursor’s $60 billion deal valued Thrive’s stake at about $4.2 billion, and Thrive’s portfolio also includes Amazon, Shopify and Oscar Health. Separately, Kushner and Bob Iger’s $12.5 billion bid to buy the Los Angeles Lakers could unlock further liquidity and may allow for tax-advantaged amortization of intangibles, potentially yielding hundreds of millions in annual tax benefits, though the Lakers stake value remains undisclosed.

via Forbes|
#business#josh-kushner#lakers
Buss Legacy Under Strain as Lakers Ownership Drama Unfolds
sports1 month ago

Buss Legacy Under Strain as Lakers Ownership Drama Unfolds

Byron Scott says Dr. Jerry Buss wouldn’t be happy with the Lakers’ current ownership drama, as the Buss family fights over shares after Mark Walter’s sale to Bob Iger and Josh Kushner, which Jeanie Buss is contesting. Scott urges the new owners to emulate Buss’s fair, family-first leadership and keep the franchise’s culture intact, noting the rapid sale embarrassed the family and highlighting the tension between tradition and modern ownership.

via Lakers Nation|
#bob-iger#jeanie-buss#jerry-buss
Shaq Sees Buss Family Lakers Exit as a Monumental Business Move
business1 month ago

Shaq Sees Buss Family Lakers Exit as a Monumental Business Move

Shaquille O’Neal says he admires the Buss family’s decision to sell their Lakers shares to Bob Iger and Josh Kushner for $12.5 billion, calling it a monumental business move; Jeanie Buss may challenge the sale, potentially triggering a legal battle, while a path for her to stay governor could involve buying back a stake, and reporter Shams Charania stands by his coverage amid the dispute.

via Lakers Nation|
#bob-iger#business#buss-family
Lakers Ownership Drama: Jeanie Buss Eyes Family Share Buyout as Iger/Kushner Deal Looms
sports1 month ago

Lakers Ownership Drama: Jeanie Buss Eyes Family Share Buyout as Iger/Kushner Deal Looms

The Lakers’ ownership saga intensifies as Jeanie Buss reportedly weighs buying out her siblings’ shares to stay governor, a move that could require keeping at least 15% ownership and may be woven into a deal with Mark Walter that would see Bob Iger and Josh Kushner take over his stake and governorship. Jeanie publicly pushed back at Shams Charania’s reporting that the siblings planned to sell, while Charania defended his reporting on a Pat McAfee appearance. Separately, Walter allegedly explored a loan against his Lakers stake with Apollo Global Management as the sale to new owners looms, underscoring the urgency to cash out and the possibility that a sale may be the cleaner outcome.

via Silver Screen and Roll|
#bob-iger#jeanie-buss#josh-kushner
Jeanie Buss Battles Family Sale of Lakers Stake to Iger and Kushner, Citing Controlling-Owner Rule
sports1 month ago

Jeanie Buss Battles Family Sale of Lakers Stake to Iger and Kushner, Citing Controlling-Owner Rule

Jeanie Buss is seeking to halt the Buss family’s plan to sell the Lakers’ remaining stake to Bob Iger and Josh Kushner, arguing that a 2017 court order requires cotrustees to maintain at least 15% ownership so she can remain the controlling owner; the 17.8% sale announced by the family values the deal at $12.5 billion and would leave Iger and Kushner with about 83% of the team, but NBA approval is still pending for the sale.

via Al Jazeera|
#bob-iger#jeanie-buss#josh-kushner
Lakers Sale Moves Forward as Buss Family Plans Exit, Jeanie’s Governor Role in Jeopardy
business1 month ago

Lakers Sale Moves Forward as Buss Family Plans Exit, Jeanie’s Governor Role in Jeopardy

The Buss family intends to sell its remaining Lakers shares, which would force Jeanie Buss to relinquish her governor title under NBA rules and end the Buss era after decades with the franchise. The sale follows Mark Walter’s deal to transfer controlling ownership to Bob Iger and Josh Kushner at a $12.5 billion valuation. The Buss Family Trust must secure at least four of six votes to authorize the sale, with trustees including Jeanie, Janie and Joey Buss; if completed, ownership would shift away from the Buss family and Jeanie’s governorship would likely end, though it’s unclear how she voted or what role she’ll play going forward.

via The New York Times|
#bob-iger#business#buss-family
FBI seizes Mark Walter’s and Guggenheim executive’s phones ahead of Lakers sale
business1 month ago

FBI seizes Mark Walter’s and Guggenheim executive’s phones ahead of Lakers sale

The FBI seized Mark Walter’s phone and Guggenheim Investments president Dina DiLorenzo’s phone amid a probe into Walter-controlled entities, months before Walter agreed to sell the Los Angeles Lakers to Josh Kushner and Bob Iger for $12.5 billion. Authorities are scrutinizing Guggenheim’s private-investments accounting and related-party transactions, with no charges announced as of now.

via New York Post|
#business#fbi#guggenheim-investments