The Los Angeles Lakers may soon be sold for $12 billion—and the Trump administration might have something to do with it.
ESPN reported Wednesday that Josh Kushner, the brother of President Donald Trump’s son-in-law Jared Kushner, and ex-Disney CEO Bob Iger have reportedly reached a deal with business executive Mark Walter to buy the NBA team just a year after Walter purchased it for $10 billion.
The timing is suspicious, as Walter is facing a loan fraud investigation by the Securities and Exchange Commission, as well as the U.S. Attorney’s Office in Manhattan, over $16 billion in private credit deals concerning insurance companies he owns. Walter also happened to visit the White House in June to be honored with the Los Angeles Dodgers, which he owns, for winning the World Series.
Did Trump cut a deal and get his son-in-law’s brother involved to help Walter out with some impending financial trouble? Josh Kushner is said to politically disagree with his brother and Trump. But he still would have been the main investor in the abandoned plan by FIFA President Gianni Infantino, who has cozied up to Trump, to sell stakes in the World Cup. Kushner would have to sell his minority stake in the Miami Heat to complete the Lakers deal.
Walter faces a serious threat to his business empire with the federal probes, according to The Wall Street Journal. Trump’s second term has been marked by visible corruption involving business executives and wealthy foreign leaders close to the president, and that appears to be extending to professional sports.
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