For billionaire venture capitalist Josh Kushner, the biggest headline-grabber was not the agreement to acquire a controlling stake in the Los Angeles Lakers with former Disney CEO Bob Iger in a deal valuing the franchise at $12.5 billion. It was the way he was rejected by another sport. With all the drama surrounding the Lakers’ ownership and two sales in roughly a year, fans are wary of Kushner’s failed attempt to enter the FIFA business. While the Buss family is locked in a legal battle over their stake, he’s officially broken his silence following the dramatic collapse of his firm’s multi-billion-dollar FIFA commercial proposal.
Speaking out after a fierce backlash from international football confederations forced FIFA to abandon the initiative, the Thrive Capital founder admitted that his group underestimated the sport’s entrenched governance structure.
“Money in football has historically been concentrated amongst a small group of countries. The idea behind FFE was to direct more capital and equity equally amongst all 211 member countries, providing significantly more investment to underdeveloped nations to nurture local talent, support grassroots football, enhance the fan experience, and ultimately grow the global game everywhere,” Kushner said in a statement first reported by Axios.
“It was an idea that every Member Association would vote on, not an obligation or determination. While we stand behind the motivations of FFE, we failed to appreciate the political dynamics of global football, and the lengths some would go to. Thrive has a long track record of being a partner to all constituents. Had we known what this would devolve into, we would not have gotten involved.”
The drama off the soccer pitch concerned the approximately $20 billion project, FIFA Forward Enterprise (FFE), a subsidiary meant to manage commercial rights, broadcasting, licensing, and tournament operations for major events like the World Cup. Kushner’s firm, Thrive Capital, through its Thrive Eternal vehicle, was positioned to lead an investor group purchasing a 20% minority, non-controlling stake valued at about $4.2 billion. FIFA was to retain majority control and governance.
However, the proposal met immediate resistance from European governing body UEFA, which threatened to boycott FIFA events and initiated legal proceedings in U.S. courts to subpoena communications regarding the deal. FIFA President Gianni Infantino eventually shelved the plan after opposition spread across global confederations.
When his soccer plans fell through, Kushner immediately pivoted to basketball. He and Iger have agreed to buy Mark Walter’s controlling stake in a deal still pending NBA Board of Governors approval. However, with Jeanie Buss taking her siblings to court to retain the Buss family’s last remaining share, analysts speculate that the NBA Board of Governors might rethink its approval of this sale, too.
Fan skeptical about Josh Kushner’s $12.5 billion valuation deal for the Lakers
The FIFA deal’s high-profile collapse occurred weeks after sports analysts and Lakers fans began expressing reservations about Kushner and Iger’s agreement to buy a controlling stake in the Lakers. According to some reports, the deal quietly came together about ten months after the NBA Board of Governors approved Mark Walter’s acquisition of the franchise in October 2025, marking another rapid ownership shift for the iconic brand.
From the LakeShow’s POV, you have to see how Kushner’s failed FIFA bid looks. In 2025, they were shocked by the Lakers’ $10 billion sale to Dodgers owner, Mark Walter. After he raised ticket prices, he sold the team he owned for 14 months to the Kushner-Iger group for a $2.5 billion profit. That came amid a federal investigation into his insurance business.
Add in the Buss family drama, where Jeanie is locked in a 1 vs. 5 legal battle to prevent the sale of the approximately 17.8% stake that remains the last vestige of a five-decade Buss family reign. Jeanie and Walter had a deal to keep her as governor, and later Bob Iger confirmed they intended to honor it. But that won’t be possible on good faith if she doesn’t have the minimum 15% stake to remain governor.
Some fans on social media questioned whether Jeanie’s impending court threat could also prompt the NBA Board of Governors to stall the sale to resolve the governor issue. But that might not be the case, as Kushner and Iger have agreed to buy Walter’s share, and the drama is entirely focused on the Buss family stake.
Yet the FIFA controversy has only intensified the spotlight on Kushner as he transitions into one of the most prominent roles in American sports ownership. Analysts on podcasts like Locked on Lakers recently voiced concern over whether an investor without deep historical roots in Southern California is prepared to steward a franchise with such a rich legacy.
“I understand where the fans are concerned about it for someone who is a complete outsider. As far as, like, for the time being, in Kushner, the main money guy who has no connection, real connection to this city, and has no proven track record in sports, seems to just want to acquire things in sports,” Brian Kamenetzky noted. “As we saw in the essentially failed takeover of FIFA to turn it into the type of business model that the entire world rejected.”
The analyst referenced the FIFA situation as a cautionary tale of aggressive sports investment models facing swift public and institutional pushback. Lakers fans are notoriously protective of Southern California culture to the point they’re mad Joey and Jesse Buss have joined the San Diego Padres ownership.
Questions have also been raised about Kushner’s eagerness to get into sports ownership. Kushner, who holds an estimated personal net worth of $16.7 billion, pivoted to the Lakers after previously exploring a multi-billion-dollar Las Vegas expansion bid with Iger and previously held an interest in the Memphis Grizzlies. To finalize the Lakers’ acquisition, Kushner must also give up his minority stake in the Miami Heat.
With training camp approaching and the franchise navigating a new era of ownership, Lakers supporters remain focused on whether Kushner and Iger will offer a clear long-term operational vision that prioritizes championship success above commercial expansion.