Bob Iger and Joshua Kushner are circling the NBA’s planned Las Vegas expansion team, exploring a bid for a majority ownership stake, according to people familiar with the talks. If they move forward, the Disney veteran and venture-capital heavyweight would instantly become one of the headline contenders in what is shaping up to be a very crowded race for Sin City.
As first reported by Bloomberg, Iger and Kushner have brought in investment bankers to sort out potential financing and sketch a bid structure. People briefed on the process say no formal offer has been submitted to the league yet, and representatives for the pair declined to comment to Bloomberg.
League Moves Forward
The NBA’s Board of Governors voted in March to let the league formally explore expansion to Las Vegas and Seattle, and the league has hired PJT Partners to evaluate markets, potential ownership groups and arena infrastructure, according to the NBA. That is the groundwork phase, the part where the spreadsheets get as much attention as the highlight reels.
Industry projections suggest expansion bids could land in the 7 billion to 10 billion dollar range per franchise, and the league is targeting a possible 2028–29 debut if expansion goes ahead, according to ESPN. Those price tags are not for the faint of wallet.
Why Iger And Kushner?
Iger is already tied into Kushner’s shop. He rejoined Joshua Kushner’s Thrive Capital this spring in an advisory role, a relationship that gives the potential bid institutional backing and experience with big-ticket deals. It also plugs the prospective ownership group directly into the world of tech and media investing.
Thrive has started putting money into sports as well. The firm announced a minority, non-controlling stake in the San Francisco Giants in April, according to Reuters. Industry outlets say that deal signals a broader appetite for franchise ownership from the firm, according to the Sports Business Journal.
What This Means For Las Vegas
Las Vegas has been steadily positioning itself for an NBA team, building both demand and infrastructure. Local owners and developers have floated arena-resort concepts, while big names like Magic Johnson have quietly met with Gov. Joe Lombardo to talk potential bids. Multiple groups are studying sites on and off the Strip and courting casino and hotel partners, a crucial step if anyone hopes to cover the kind of expansion fee and arena build that would be required. See Magic Johnson’s Vegas Huddle for more on the local push.
What Comes Next
Any group serious about landing a franchise will need to lock down financing, secure arena or resort partners and submit a formal proposal for the league to review. The NBA has said it will share more updates as its evaluation continues, but no one should expect a snap decision.
If and when the league decides to add teams, the Board of Governors would vote on any new franchises, after what officials say would be months of due diligence and banker-led financial modeling. Until then, Las Vegas remains a high-stakes prize that a lot of very rich people are still shuffling their chips for.
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