Joshua Kushner, brother of Jared Kushner, is leading a deal to acquire a majority stake in the Los Angeles Lakers basketball team for $12.5 billion, according to sources familiar with the transaction.
The deal, which involves an investment group led by Joshua Kushner, founder and managing partner of Thrive Capital, will see the Anschutz Company selling its controlling interest in the Lakers, as well as the NHL’s Los Angeles Kings and Staples Center (now Crypto.com Arena). The agreement is still subject to NBA approval.
The $12.5 billion valuation would make it the highest price ever paid for an American sports team, surpassing the $4.65 billion paid for the Charlotte Hornets last year. Sources indicate that the deal has been in the works for several weeks and represents a significant expansion of Kushner’s investment portfolio beyond technology.
While details remain confidential, people close to the negotiations say the structure allows Anschutz Company Chairman Philip Anschutz to retain some ownership stake. The move positions Joshua Kushner more prominently in the public eye, stepping out from behind his brother's well-known political profile and establishing himself as a major player in sports ownership.
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