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Fortune

Jason Ma

One of the VC world's biggest stars is doubling down on sports in a big way, and there's a compelling tax reason behind the strategy

Joshua Kushner Bob Iger Lakers Disney the Los Angeles Lakers Thrive Capital Jeanie Buss

(Credit: Jamie McCarthy—Getty Images)

Fortune’s Jason Ma here. Thrive Capital founder Joshua Kushner is no stranger to investing in pro sports, but his $12.5 billion deal with former Disney CEO Bob Iger to buy the Los Angeles Lakers vaults him into an elite club with elite benefits.

Kushner previously owned a minority stake in the Memphis Grizzlies, then sold it and bought a small stake in the Miami Heat, which he must sell to buy the Lakers. And earlier this year, his Thrive Eternal capital holding company bought a minority a stake in the San Francisco Giants.

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