Lakers buyers lining up investors amid questions about funding

Getting into the Lakers’ prospective ownership group apparently requires about $250 million. That’s the starting point.

Josh Kushner and Bob Iger are offering minority stakes beginning around that figure as they assemble investors for their proposed purchase, according to Ben Horney of Front Office Sports.

Four sources told Horney that stakes have been offered for between $250 million and $300 million. Some investors are expected to contribute considerably more.

Kushner and Iger agreed over the summer to acquire the Lakers from Mark Walter at a $12.5 billion valuation. The deal has not closed.

The fundraising drew attention Thursday when Bill Simmons said on his podcast that Kushner remained $5 billion to $6 billion short and was struggling to secure the money.

Front Office Sports reported a different account. One source disputed that Kushner was having difficulty raising funds, while two described substantial demand to participate. The prospective investors were not identified.

According to Horney’s reporting, the transaction could close within the next few months. Kushner would become majority owner, with Iger holding a minority stake and overseeing day-to-day operations.

RELATED | Lakers explored Dalton Knecht trade with Jazz, others

Building out an investor group after agreeing to a purchase has become common in NBA sales, Horney noted. Rising valuations have made buying even a small piece of a franchise an expensive proposition.

There’s also an unresolved dispute over the Buss family’s 17.8% stake. Jeanie Buss and her siblings disagree over whether that interest can be sold, though Front Office Sports previously reported that the family’s legal battle does not affect the proposed Kushner-Iger transaction.