Topline
Former Disney CEO Bob Iger and venture capitalist Joshua Kushner—the younger brother of President Donald Trump’s son-in-law Jared—are in talks to make a bid for a new NBA team based in Las Vegas, according to Bloomberg, just months after the league announced plans to explore an expansion.
Joshua Kushner and Bob Igerare seen on Day 10 of the 2025 US Open Tennis Championships at USTA Billie Jean King National Tennis Center.
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Key Facts
Citing unnamed sources familiar with Iger and Kushner’s plans, Bloomberg reported that the bid will be for a majority stake in the team, though details on the valuation of the new franchise remain unknown.
The bid will be made through Thrive Eternal, a division established by Kushner’s venture firm, Thrive Capital, earlier this year to focus on long-term investments.
Thrive Eternal made its first major investment earlier this year by acquiring a stake in the Major League Baseball team San Francisco Giants.
In 2023, Iger joined a consortium of investors—including billionaires Mukesh Ambani, Henry Kravis, Xavier Niel and Jorge Paulo Lemann—to acquire a 3% stake in Thrive Capital and the former Disney CEO serves as an adviser to the firm.
In 2024, Iger and his wife, Willow Bay, acquired a controlling stake in the National Women’s Soccer League team Angel City F.C.
What Has The NBA Said About Expansion Plans?
In April, the league’s board of governors voted to authorize an expansion plan to “formally explore” establishing new teams in Las Vegas and Seattle. NBA Commissioner Adam Silver said the vote reflected the board’s interest in potential expansion into “two markets with a long history of support for NBA basketball.” The announcement did not include a timeline, but last week, Silver said the NBA is targeting a 2028-29 season debut for the two new teams.
Who Else has expressed interest in the vegas team?
Los Angeles Lakers superstar LeBron James had previously expressed interest in acquiring an ownership stake in a potential Las Vegas franchise. In a 2022 episode of his talk show, James said: “I want a team in Vegas…I want the team in Vegas.” However, in March this year, James was asked if he was still interested and said, “No, I’m not. Not at all.” Last week, Bill Foley, the billionaire owner of the Vegas Golden Knights hockey team, announced plans to bid for the new Vegas Franchise. Another potential bidder is NBA Legend Magic Johnson, who met with Nevada Gov. Joe Lombardo and other officials as part of an effort to launch a formal bid.