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October 30, 2026

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Josh Kushner and Bob Iger are offering investors minority stakes in the Lakers starting at $250 million apiece as they put together their $12.5 billion deal, sources tell Front Office Sports. And despite reports of trouble raising money, sources say demand is strong, with some investors expected to pay significantly more.

—Ben Horney

First Up

First at FOS: Mike Tomlin will likely be the hottest NFL coaching candidate this hiring cycle—if he wants back.
Big 12 commissioner Brett Yormark is stepping down after four years of major deals and conference realignment.
MLB teams are rushing through offseason roster decisions before an expected Dec. 1 lockout freezes player movement.
Ernie Johnson is retiring from Inside the NBA, but he says he hopes the show will continue without him.

Josh Kushner, Bob Iger Shopping Lakers Stakes Starting at $250 Million

Brendan McDermid-Reuters

Josh Kushner and Bob Iger have been offering Lakers minority stakes to investors starting at $250 million apiece as they build out their ownership group, Front Office Sports has learned.

The duo, which agreed to buy the Lakers from embattled billionaire Mark Walter over the summer at a record $12.5 billion valuation, have been working to sell minority stakes for between $250 million and $300 million each, four sources familiar with the matter tell FOS. That is just the starting point, and there will be minority investors who put significantly higher amounts into the deal, two sources say.

The news comes as Bill Simmons said on his podcast Thursday that Kushner is still $5 billion to $6 billion short on capital for the acquisition, that he “can’t find the money,” and that Iger is only putting in “like $63 million.”

The idea that Kushner is having trouble raising money for the deal is not true, one source tells FOS. There has been massive demand to get in on the Lakers deal, according to two sources, although it’s not clear who has expressed interest in buying in. The transaction could be completed within the next few months, one source says. Once the deal closes, Kushner will be the majority owner, while Iger will be a minority owner and will oversee day-to-day operations of the team, the same source says.

It has become commonplace for NBA team buyers to reach an agreement and then fill out their roster of limited partners. The Celtics, for example, unveiled a group of minority investors a few months after Bill Chisholm’s $6.1 billion purchase of the team was announced. The number of minority investors in NBA teams, including private equity firms, has grown in recent years, in part because valuations are soaring.

The NBA recently revised its private equity rules to allow a firm and its executives to invest at the same time, a change that was made in part to allow for Kushner’s investment firm Thrive Eternal to invest alongside him in the Lakers deal.

There is also drama around whether the Buss family will remain invested in the Lakers once the deal goes through. Jeanie Buss and her siblings are engaged in a legal fight in California state court; the siblings want to sell the family’s 17.8% stake, but Jeanie Buss, who is the Lakers governor under a side deal reached with Walter last year, says they cannot do so under a 2017 court order. The siblings have disputed that notion.

The Buss family has owned the Lakers, in whole or in part, since 1979 when Jerry Buss bought the team and other assets, including the NHL’s Kings and The Forum, where both the Lakers and Kings used to play, for a reported $67.5 million. After he died in 2013, the franchise went into a trust controlled by the six Buss children. Before his death, he said the succession plan was for Jeanie Buss to become the Lakers governor and run the team.

FOS previously reported the Buss family legal battle “doesn’t impact the proposed deal with Bob and Josh in any way.”

Walter’s abrupt exit from the Lakers comes as his business empire faces federal investigations tied to faulty life insurance disclosures. Although Walter’s company, TWG Global, has insisted the Dodgers are not up for grabs and there is no “fire sale,” he has spent the last few months unloading a number of sports assets.

In August, Walter sold his nearly 13% stake in Premier League soccer club Chelsea to Clearlake Capital, the majority owner. That sale coincided with an exit from Ligue 1 side Strasbourg, also majority-owned by Clearlake.

Most recently, it was reported that Walter is looking to sell the WNBA’s Sparks. A source confirms to FOS that Kushner and Iger are not currently interested in buying the Sparks. Bloomberg first reported they’re not among the potential buyers.

A representative for Kushner and Iger declined to comment for this story.

How the Yankees Get Ahead Off the Field

Behind one of sports’s most storied organizations is a finance team managing 50 different departments.

With Sage Intacct, the New York Yankees have cut month-end close time by 67% and made financial modeling immediate, giving the team more time to focus on long-term planning. Real-time dashboards and automated processes help the finance team deliver insights faster, giving leadership the information it needs to make decisions in the moment.

Read how Sage Intacct is helping the Yankees streamline operations, make faster decisions, and plan for the future.

STATUS REPORT

Three Up, One Down

Jeff Hanisch-Imagn Images

Josh Jacobs ⬇ The Packers running back is under fire for a celebration that appeared to mimic being placed in handcuffs, in just his second game back from a stint on the commissioner’s exempt list due to a misdemeanor battery conviction in September. Jacobs said the celebration, which he performed after a touchdown in the Thursday Night Football win over the Panthers, was an ode to a gospel song. He remains subject to a league investigation and could still be suspended without pay.

Women’s hockey ⬆ With the Professional Women’s Hockey League adding four new expansion teams this season—bringing the total to 12 teams—minimum salaries are also going up. The league minimum will increase from roughly $38,000 to $42,000, and grow to $52,500 in 2030–31.

Christian Pulisic ⬆ The star American winger signed a new five-year contract with AC Milan that will keep him at the Serie A club until 2031. The contract has a base salary of roughly $7.25 million per year, but Pulisic could earn up to $11.4 million annually if he achieves certain bonuses. “I’m very emotional,” Pulisic told Sky Italia. “Obviously it was always my desire to stay here.”

Kalshi ⬆ The 76ers became the first NBA team to partner with a prediction market, signing a deal with Kalshi. Both Kalshi and Polymarket became official prediction market partners of the NBA earlier this week, allowing them to use NBA intellectual property. Kalshi’s deal with the Sixers comes despite new Philadelphia star LeBron James already having a deal in place with Polymarket, which FOS reported earns him $15 million annually.

Resilience at Full Throttle

A race weekend lasts a few days. The work behind it never stops. Every Grand Prix depends on split-second decisions and critical systems, from the broadcast reaching millions of fans to the timing data that keeps the race moving.

PwC helps F1 ^® strengthen resilience where it matters most. That means mapping risks, planning responses, and testing them under pressure, so F1 is ready when conditions change. The result is a more prepared, coordinated response. Because momentum isn’t luck. It’s engineered.

ONE FUN THING

Clinch Cans

USA Today Network

As the Brewers clinched a franchise-first World Series title with a 4–1 win over the Rays in Game 5 on Wednesday night, breweries across Wisconsin were still hard at work.

Now, Miller Lite is offering fans the opportunity to buy “Clinch Cans” filled with beer brewed at the exact moment the team ended its decades-long wait for a championship. Starting Nov. 2, 4,400 Clinch Cans (pictured here) will be available to purchase at the Miller Brewery Tour Center in Milwaukee.

The Brewers are named after the city’s bustling beer-brewing industry, and Miller Brewing Company has long been its crown jewel. The company was founded in Milwaukee in 1855, and the Brewers’ stadium was named Miller Park from 2001 to 2020.

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