Josh Kushner Is Buying the Lakers & His Donald Trump Connection Is Drawing Attention

Josh Kushner is buying the Los Angeles Lakers alongside former Disney chief Bob Iger in a deal worth $17.7 billion. It would be the highest price ever paid for an American sports franchise. But the venture capitalist’s family ties to Donald Trump have become the story’s biggest talking point.

Kushner and Iger are buying the team from Mark Walter, who only took majority control of the Lakers a year ago in a deal that valued the franchise at $14 billion. The NBA’s board approved the governors’ transaction in October.

Walter is currently the subject of a federal investigation into alleged financial improprieties involving insurance companies under his control, according to reports from last month. Walter also owns the Los Angeles Dodgers.

So, the timing of that investigation, paired with Josh Kushner’s family connections, fueled speculation online that Donald Trump’s administration had a hand in pressuring Walter to sell. Joshua Kushner is the brother of Jared Kushner, Trump’s son-in-law.

The White House shut down those claims on Thursday. “This has nothing to do with President Trump or his administration,” a statement to Front Office Sports read. Thrive Capital, Kushner’s venture capital firm, issued its own denial, calling the speculation “false.”

However, the Lakers deal lands just weeks after Kushner found himself at the center of a separate controversy involving FIFA. In July, football’s global governing body proposed creating a $28 billion commercial subsidiary to house its World Cup and event-related businesses. In other words, it involves selling minority stakes to outside investors.

Kushner’s firm, Thrive Eternal, was expected to lead that investor group. It could have also raised more than $5.6 billion for FIFA. European football officials pushed back hard, and FIFA later shelved the plan, though it said consultations would continue.

Now, what comes next for the Lakers has been clarified by Iger and Kushner. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation and compete at the highest level. And serve this extraordinary team, its fans, and the city of Los Angeles (via Nine).”

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