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TWG Global Defends Dodgers Financing as Lakers Sale Buzz Intensifies
business2 hours ago

TWG Global Defends Dodgers Financing as Lakers Sale Buzz Intensifies

TWG Global defended its financing of the Dodgers, denying any financial impropriety and saying regulators cleared the 2012 purchase and harmed no policyholders. The Dodgers’ payroll remains funded by strong revenues, and the company reiterated the team is not for sale. Amid Mark Walter’s Lakers sale at a record $12.5 billion, analysts say a Dodgers sale would likely fetch roughly $10–$13 billion if pursued, but TWG says no sale process has begun and it is cooperating with regulators.

via Los Angeles Times|
#business#dodgers#insurance-regulators
TWG Global Denies Fraud as Lakers Sale Buzz Surfaces Amid Probes
business6 hours ago

TWG Global Denies Fraud as Lakers Sale Buzz Surfaces Amid Probes

TWG Global pushed back on “multipronged attacks” amid federal probes into related-party insurer transactions, insisting there has been no fraud and that it is not pursuing a fire-sale of its sports assets; the company says it will cooperate with the DOJ and SEC, continues to field legitimate offers for its assets (including the Lakers, with the Dodgers not yet up for sale), and notes there is no current sale process for the Dodgers.

via CNBC|
#business#doj-sec-investigations#lakers
Lakers sale dispute highlights limits of family trusts
business1 day ago

Lakers sale dispute highlights limits of family trusts

Jeanie Buss resists selling the Lakers' remaining stake as a $12.5 billion bid from a group including Bob Iger and Joshua Kushner faces sibling opposition, underscoring how even well-structured family trusts can fail to keep a prized asset in the family—the outcome will hinge on the trust’s terms and a 2017 court order, illustrating a broader pattern of ownership conflicts in sports franchises.

via The Conversation|
#business#buss-family#lakers
Vanessa Bryant honors Kobe on what would’ve been his 48th birthday
entertainment2 days ago

Vanessa Bryant honors Kobe on what would’ve been his 48th birthday

Vanessa Bryant marked Kobe Bryant’s would‑be 48th birthday with a heartfelt Instagram tribute, sharing a smiling photo of Kobe and writing, “Happy birthday, baby. I love you so much. 8/23.” The post prompted tributes from fans and fellow athletes, including Candace Parker and Michael Phelps, and underscores Kobe’s legacy with the Lakers over a 20‑season career and his and Gianna’s death in 2020.

via New York Post|
#birthday#entertainment#instagram
Kushner’s AI Bets Drive Thrive’s Surge as Lakers Bid Looms
business3 days 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
sports4 days 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
Lakers Legends Sound Off on Buss Family Ownership Rift
sports4 days ago

Lakers Legends Sound Off on Buss Family Ownership Rift

Lakers legends share candid, somber takes on the Buss family ownership dispute as Jeanie Buss fights to block the sale of the Lakers’ remaining stake amid a bid by Josh Kushner and Bob Iger. With billions at stake, the saga hints at a possible legal battle and a future without the Buss family, drawing reflections from Byron Scott, Robert Horry, Michael Cooper and Matt Barnes on the franchise’s Showtime-era identity and what comes next for the Lakers.

via New York Post|
#buss-family#jeanie-buss#lakers
Soon-Shiong Signals Dodgers Bid If Walter Sells Amid Probe
business4 days ago

Soon-Shiong Signals Dodgers Bid If Walter Sells Amid Probe

Although Dodgers owner Mark Walter says the team isn’t for sale, federal scrutiny of his insurance empire and related cash pressures could spur bidders, with Patrick Soon-Shiong saying he would lead an investment group if Walter chooses to sell. Industry talk values the Dodgers at roughly $10–$13 billion, and Soon-Shiong—owner of the Los Angeles Times and a former Dodgers bidder—could be a leading contender, even as the Lakers recently changed hands to a Bob Iger–Kushner-backed group.

via Los Angeles Times|
#business#dodgers#lakers
Dodgers Not for Sale, Kasten Reassures Amid Ownership Shake-Up
business4 days ago

Dodgers Not for Sale, Kasten Reassures Amid Ownership Shake-Up

Dodgers president Stan Kasten reiterated that the team is not for sale and has no sale process in motion, even as owner Mark Walter’s broader holdings face scrutiny and related moves, including the Lakers’ sale and Chelsea F.C. minority discussions. Investigations into Walter’s insurance businesses are ongoing (no charges yet), while TWG Global seeks investors to help manage loans. Kasten stressed the Dodgers’ finances stand on their own, with heavy CBT and luxury-tax obligations, and noted that Ohtani’s contract contains a key-man clause intended to reinvest savings if leadership changes occur.

via MLB Trade Rumors|
#business#chelsea-fc#dodgers
Private Equity Bets Big on Pro Sports as Lakers Sale Signals a Boom in Team Ownership
business4 days ago

Private Equity Bets Big on Pro Sports as Lakers Sale Signals a Boom in Team Ownership

Private equity investment in professional sports is rising as stable media rights and arena-related revenues attract investors. The Lakers’ sale to Thrive Capital’s Joshua Kushner and Bob Iger exemplifies a growing trend where PE firms pursue long-horizon, high-value stakes, with large portions of sports M&A driven by private-equity activity—despite higher valuations and ongoing governance considerations.

via Los Angeles Times|
#bob-iger#business#lakers
Lakers’ TV future hangs in balance as Spectrum eyes exit amid Kushner–Iger bid
business5 days ago

Lakers’ TV future hangs in balance as Spectrum eyes exit amid Kushner–Iger bid

Spectrum’s potential exit from the Lakers’ regional sports network and the Dodgers’ SportsNet LA, part of Charter’s Cox takeover, threatens the Lakers’ roughly $200 million-a-year local revenue as Kushner and Iger prepare to buy the team. With cord-cutting shrinking cable audiences and the NBA weighing a centralized streaming hub, local rights economics could shift, adding uncertainty to the Lakers’ sale while owner Mark Walter faces a federal probe.

via Los Angeles Times|
#business#lakers#regional-sports-networks