Investors Offer Small Stakes in Los Angeles Lakers
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Josh Kushner and Bob Iger are reportedly offering small stakes in the Los Angeles Lakers, according to a report from Front Office Sports.
The stakes are being offered starting at $250 million each, giving buyers a small ownership share of the famous NBA team.
Kushner is a well-known businessman and investor, while Iger is the former CEO of the Walt Disney Company.
The Lakers currently have a valuation of around $6 billion, making them one of the most valuable teams in sports.
However, an analyst has suggested that this high valuation could become a serious problem for any takeover plans.
The analyst claims that some people are using the Buss family, the team's long-time owners, as a scapegoat for the issue.
The Buss family has controlled the Lakers for decades and has been central to many of the team's biggest decisions.
Sports commentator Bill Simmons has also shared opinions about the Lakers' situation.
According to the report, this is not the first time the analyst believes Simmons has been wrong about the team.
No final deal has been confirmed yet, and it remains unclear who might eventually buy these stakes.
The situation highlights how complex and expensive ownership changes can be for major sports franchises.
Fans and experts will likely continue watching closely to see how the Lakers' ownership situation develops in the coming months.
Vocabulary10 words
- stake
- a small part of a company or team that someone can own
- investor
- a person who puts money into something to earn more money later
- valuation
- the total money value given to something, like a team or company
- takeover
- when a person or group gains control of a company or team
- scapegoat
- someone blamed for a problem, even if it isn't really their fault
- deal
- an agreement made between people, often about money
- analyst
- someone who studies information carefully and shares an opinion
- franchise
- a professional sports team that belongs to a league
- CEO
- the top boss of a company
- ownership
- the state of owning something, like a team
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Quiz
Answer key
1. Offering small stakes in the Lakers 2. $6 billion 3. Using them as a scapegoat
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Josh Kushner and Bob Iger are reportedly offering small _____ in the Los Angeles Lakers.
The stakes are being offered starting at $250 _____ each.
Kushner is a well-known businessman and _____, while Iger is the former CEO of Disney.
The Lakers currently have a _____ of around $6 billion.
An analyst has suggested that this high valuation could become a serious problem for any _____ plans.
The analyst claims some people are using the Buss family as a _____ for the issue.
The Buss family has controlled the Lakers for _____.
Sports commentator Bill Simmons has also shared opinions about the Lakers' _____.
No final _____ has been confirmed yet.
The situation highlights how complex ownership changes can be for major sports _____.
Discussion questions
- Why do you think wealthy investors want to buy stakes in famous sports teams?
- Do you think a $6 billion valuation is reasonable for a basketball team? Why or why not?
- What problems might arise when many different investors own small stakes in one team?
- How important is family ownership tradition in sports, in your opinion?
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