Former Disney CEO Bob Iger and Thrive Capital founder Joshua Kushner have “hired investment bankers and discussed making a bid” for an NBA expansion team in Las Vegas, according to sources cited by Natasha Mascarenhas of BLOOMBERG NEWS. The sources said that the bid “would be for a majority investment in the team.” Iger and Kushner are “discussing making the bid through Thrive Eternal,” a company set up by Kushner’s firm to “invest in iconic brands and cultural assets.” The company operates as a holding company, structured to raise new capital and make investments into businesses without a set exit timeline. Iger is involved with Thrive as an adviser. It is unclear what the size of the bid and the valuation of the franchise would be. The potential bid would join one launched last week by Golden Knights owner Bill Foley. Thrive Eternal’s first investment, though not a controlling stake, was backing the S.F. Giants. A source said that the capital of that deal is “set to go toward the Giants’ Oracle Park and its surrounding real estate” (BLOOMBERG NEWS, 6/29).
Report: Iger, Kushner discuss bid for Las Vegas NBA team
