From Las Vegas to the Lakers: the business that connects Kushner, Trump, and the NBA – CodigoPoker

The business that was headed to Las Vegas ended up in Los Angeles. Josh Kushner and Bob Iger, the entrepreneurs who were interested in securing a future NBA expansion franchise in the city of casinos, surprised the sports world by agreeing to purchase the Los Angeles Lakers for US$12.5 billion, a record figure for a sports franchise.

The deal still needs to be approved by the NBA Board of Governors, but the agreement already represents a spectacular turn for a group that until recently had its sights set on Las Vegas, one of the world’s major centers for entertainment, casinos, and betting.

The thing is that the NBA authorized this year to explore a possible expansion towards Las Vegas and Seattle, with the possibility that new franchises could start playing in the 2028-29 season.

Kushner and Iger had precisely participated in the moves to try to secure the future Las Vegas team. But instead of waiting for the NBA to make a decision on expansion, they decided to go for something much bigger: one of the most famous and valuable franchises on the planet.

And they did so by paying a figure that shatters the previous record. Mark Walter had acquired control of the Lakers from the Buss family for a valuation close to US$10 billion, just a year ago. Now, the price jumped to US$12.5 billion.

The Trump surname, in the middle of Las Vegas and the NBA

The deal also has a political and family connection that adds another ingredient. Because Josh Kushner is the younger brother of Jared Kushner, businessman and former advisor to Donald Trump, who is married to Ivanka Trump. In this way, one of the new owners of the Lakers belongs to the same family core as the U.S. president.

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Kushner is also the founder of Thrive Capital, an investment firm that in recent years has expanded its presence in the world of sports and entertainment.

On the other hand, Bob Iger, the historic CEO of Disney, brings another profile: that of a businessman deeply connected to the global business of content, media, and entertainment.

Sports and Las Vegas, increasingly close

The story also has a background that is especially interesting to the gambling world. And that is that Las Vegas has ceased to be just the city of casinos. In recent years it has become one of the major sports hubs in the United States: the NFL’s Raiders and the NHL’s Golden Knights play there, while the city also hosts the WNBA’s Aces and hosts important NBA events and even a Formula 1 race.

The league itself has made Las Vegas a regular venue for the NBA Cup and this year took a step further by formally authorizing the exploration of a franchise there.

Therefore, for major investors, sports, entertainment, betting, and casinos increasingly form part of the same business. Kushner and Iger understood that they did not need to wait for Las Vegas to have its team. With US$12.5 billion, they went straight for the Lakers.

And now they will have in their hands a franchise that is not only one of the most recognized sports brands in the world but also an asset whose value has soared again in just one year.

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