
Joshua Kushner Must Divest Miami Heat Stake for Lakers Purchase
Joshua Kushner has agreed to purchase Mark Walter's majority stake in the Los Angeles Lakers, but he must first sell his share in the Miami Heat. This news, which surprised many in the NBA, was reported on Wednesday.
Kushner, a billionaire venture capitalist and brother of Jared Kushner, previously owned a minority stake in the Memphis Grizzlies before acquiring a 5 percent stake in the Miami Heat in 2024. To comply with NBA ownership rules, he will need to divest his Heat shares to proceed with the Lakers deal.
The timeline for the completion of due diligence and the NBA governors' approval for the sale remains unclear. The approval process typically spans several months, as seen in previous team sales.
