Joshua Kushner teams up with Bob Iger to buy Lakers, eyeing tax advantages

Joshua Kushner, founder of Thrive Capital, is finalizing a $12.5 billion deal with former Disney CEO Bob Iger to acquire roughly 83% of the Los Angeles Lakers, pending approval from the Buss family, whose member Jeanie Buss is contesting the transaction in court. Kushner’s portfolio already includes past stakes in the Memphis Grizzlies, Miami Heat and a recent minority interest in the San Francisco Giants, all of which he must divest to fund the Lakers purchase.

Analysts point out that sports franchises serve as powerful tax shelters, allowing owners to amortize intangible assets like media rights, goodwill and player contracts over 15 years under Section 197, creating paper losses that can offset other taxable income. Ram Ahluwalia of Lumida Wealth Management suggests Kushner may be seeking to neutralize carried-interest gains from holdings in SpaceX, OpenAI and Stripe. Industry commentator Joe Pompliano expects the new owners to allocate the majority of the purchase price to intangibles, maximizing the tax shield while the team’s on-court performance and brand value continue to grow.