A high-profile media claim that the record-setting $12.5 billion sale of the Los Angeles Lakers is running into severe financing obstacles began unraveling Friday following pushback from multiple sports business journalists.
Sports media personality Bill Simmons sparked intense speculation on Thursday during an episode of “The Bill Simmons Podcast,” stating that prospective controlling owner Josh Kushner lacked the capital required to wrap up the takeover from Mark Walter. Simmons alleged that Kushner was still attempting to track down between $5 billion and $6 billion to fund the transaction, while asserting that partner and longtime entertainment executive Bob Iger was contributing only an entry-level amount near $63 million.
Simmons launches ‘Aggregate Me’ segment
Simmons openly prefaced his remarks by announcing an experimental segment titled “Aggregate Me,” telling his audience he intended to make statements crafted to drive automated news pickups. Even so, the excerpt spread rapidly across social channels without that introductory disclaimer.
“The Lakers guy doesn’t have the money yet,” Simmons claimed on the program. He further suggested the buying group was “using the Buss family as scapegoats for why the deal’s dragging along, but he can’t find the money.” Simmons compared the ongoing proceedings to ownership turnover involving the Boston Celtics, questioning whether the transaction would reach the finish line.
Reporters cite robust investor interest
Industry insiders swiftly pushed back against the narrative that the Lakers agreement was in jeopardy. Ben Horney of Front Office Sports reported Friday that Kushner and Iger have actively made minority shares available to outside backers starting at $250 million each, with multiple participants committing much larger sums. Rather than scrambling for cash, the ownership group has experienced “massive demand” from prospective investors, according to sources cited by the publication.
Front Office Sports also indicated that the deal could reach final completion in the coming months. Under the current structure, Kushner would serve as majority owner while Iger would hold a minority share and oversee day-to-day team operations.
Other reporters corroborated those findings. Dan Woike of The Athletic verified on social media platform X that securing capital for the $12.5 billion acquisition has presented no hurdles. Meanwhile, sports journalist Randall Williams at Bloomberg reported that an insider close to fundraising efforts rejected Simmons’ allegations as false, pointing out that an extended closing window is standard operating procedure for a purchase of this magnitude.
A swift deal with historic figures
The transaction initially caught the basketball world off guard in August when Walter struck an agreement to sell the storied franchise just 10 months after purchasing controlling interest from the Buss family at a $10 billion valuation. According to ESPN, Walter agreed to the $12.5 billion proposal inside 72 hours, leaving Lakers governor Jeanie Buss and star player Luka Doncic caught off guard by the rapid change of hands.
While Simmons raised doubts regarding the timetable and financial structure, neither Kushner nor the Lakers organization has publicly confirmed any funding issues. League observers will monitor whether the remaining regulatory steps and investor syndications proceed smoothly over the next several months as Kushner and Iger look to formally take the helm.
