Owning the Lakers would provide billionaire investor Joshua Kushner with an iconic sports franchise — and a ‘powerful tax shield’

"My guess is he is preparing to offset a boatload of carried interest income. If you own a sports team, done correctly, you can get a deduction against income."

The Lakers deal is the latest in a series of team sales at record or near-record prices across ⁠North America.

NEW YORK, Aug 13 : The blockbuster sale of the Los Angeles Lakers this week keeps alive a sports gold rush among North America's billionaire elite, with pricey media rights, skyrocketing attendance and insatiable fans helping drive prices sky-high. Venture capitalist Joshua Kushner and former Disney CEO Bob Iger are se

News broke on Wednesday that the Los Angeles Lakers will be sold to Bob Iger and Josh Kushner for $12.5 billion. Mike Vorkunov, national NBA and basketball business reporter for the Athletic, joins CBS News to discuss.

The Los Angeles Lakers’ Record $12.5 Billion Sale Resets The Market For Sports Teams  Forbes

$12.5bn price tag is highest ever for an American sports team

The transaction, hashed out last weekend, reflects the huge profit potential of major sports franchises.

As sports valuations explode, private equity confronts the big question: When to cash out.

Former Disney chief Bob Iger and investor Josh Kushner are buying the NBA team.