How Bob Igers future ownership of LA Lakers has been exaggerated in $12.5B deal

Media reports of Bob Iger’s future “ownership” of the Los Angeles Lakers appear to have been greatly exaggerated, On The Money has learned.Three weeks ago, a flurry of headlines from major outlets – the New York Times, the Wall Street Journal, the LA Times, you name it – reported that “Bob Iger and Josh Kushner,” in that order, will be buying the iconic NBA franchise.The natural implication would be that Iger is poised to own at least 50% of the team under terms of the $12.5 billion, blockbuster deal, which was cut with embattled Guggenheim Partners boss Mark Walter.The deal is still under review by the NBA, but the fact is, it’s Kushner – the 41-year-old brother of President Trump’s son-in-law, Jared – who will be the lone controlling shareholder of the Lakers, sources close to the situation said.Under NBA rules that requires him to personally own at least 15% of the franchise, so Kushner himself will plunk down at least $1.875 billion to get the deal done.How much will 75-year-old Iger be investing? That’s what a lot of folks in Tinseltown are wondering. Consider the fact that Forbes hasn’t weighed in on Iger’s net worth since 2019, when it pegged it at about $690 million.

It’s not clear what Iger is worth now, but given that much of his wealth has been tied up in underperforming Disney shares, most doubt it’s more than $1 billion.Kushner, meanwhile, has seen his fortune skyrocket to $16.7 billion this year, according to Forbes – up from $5 billion last year – as his venture firm Thrive Capital’s shares in OpenAI have gone through the roof.Here’s the reality: Iger is indeed poised to become a major player with the Lakers when it comes to being a face of the team and an executive overseeing its operations – general manager, maybe.But he won’t be the “governor” in NBA parlance who makes the final decisions, a source close to the talks told me.“Bob will not be the control person,” one person close to Kushner told...