Disney chief Bob Iger and venture capitalist Josh Kushner just agreed to buy a controlling stake in the Los Angeles Lakers. But they are not paying a reasonable price for a basketball team. The deal values the franchise at a staggering 12.5 billion dollars, shattering every previous sports team valuation record on planet Earth. Twelve point five billion dollars! For a team that plays bouncing ball games in shiny shorts. It is pure, unadulterated madness.
The Financial Circus of Modern Sports Ownership
Let us break down this eye watering price tag. A few years ago, buying an NBA team cost a few hundred million dollars. Now, elite corporate bosses treat a basketball franchise like a core portfolio asset. The Lakers bring in massive television broadcast deals, endless merchandise sales, and prime courtside seating for Hollywood celebrities.
You have to admire the sheer, shameless nerve of the sports market. Executives sit in corporate boardrooms, look at working class fans paying fifty pounds for a stadium hot dog and a warm beer, and realise they can squeeze billions more out of national nostalgia. “Give us your monthly subscription fees, because our rich friends need a new trophy asset to flex at dinner parties.” It is the corporate equivalent of buying a gold plated mega yacht, except this one wears purple and gold jerseys.
Hollywood Royalty Meets Political Royalty
The pairing of buyers makes the whole spectacle even more absurd. Bob Iger spent decades running Disney, turning entertainment franchises into endless cash cows. Then you have Josh Kushner, founder of Thrive Capital, who brings his own colourful web of high society connections. Josh is the younger brother of Jared Kushner, making him the brother-in-law of Ivanka Trump. To add even more celebrity clout to the family tree, Josh is also married to supermodel Karlie Kloss.
So, you have the Disney chief teaming up with Donald Trump’s son-in-law’s brother, who happens to be married to a former Victoria’s Secret Angel, all to run a basketball team. You genuinely could not script a more ridiculous fusion of media influence, political ties, and private equity cash. They do not care about the tactical nuances of a pick-and-roll offense. They care about global streaming rights, international brand expansion, and selling thousands of twenty dollar foam fingers in Tokyo and London.
Working Class Fans Funding Executive Fantasy
Why do sports team valuations keep soaring into space? Because global media networks spend billions on live sports rights, passing those costs right down to regular viewers through rising cable bills and streaming subscriptions. The fans fund the entire circus. Regular people work sixty hours a week to afford a single game ticket, while billionaire owners trade franchises back and forth like Pokémon cards.
We live in a world where corporate titans drop twelve billion dollars on a basketball team, while regular families struggle to pay for season tickets. It would be hilarious if it were not so completely exhausting for anyone who actually loves the game.
If you appreciate a bit of clear eyed reality amidst the billionaire playground, feel free to pass this article along to someone who needs a reality check today. Karlie Kloss Addresses Her, Josh Kushner’s Ties to Trump Family
This video provides additional context regarding Joshua Kushner’s immediate family relationships, detailing his connection to his brother Jared Kushner, Ivanka Trump, and his wife Karlie Kloss.
Related Topics: Basketball
