Former Disney CEO Bob Iger and Joshua Kushner are reportedly considering a bid for major investment in a Las Vegas NBA expansion team.

Las Vegas NBA Team

According to the LA Times, insiders close to Iger and Kushner have indicated that the duo is considering bidding for a Las Vegas NBA team. The outlet noted that they are considering a “majority investment in the team” after the approval of a potential franchise expansion in Las Vegas (as well as Seattle).

The bid would be made through Thrive Eternal, which is connected to Kushner’s firm Thrive Capital. Iger is an advisor. This would not be Thrive Eternal’s first sports-related investment, as it has already invested in the San Francisco Giants in late April, per Axios.

Iger returned as an advisor to Thrive Capital after stepping down as Disney CEO earlier this spring.

Iger and Thrive Capital

Thrive Capital, a venture capital firm based in New York, was founded in 2009 by Josh Kushner, the younger brother of Donald Trump’s son-in-law and former White House adviser Jared Kushner. Thrive Capital manages about $15 billion in assets and has invested in companies including Instagram, Spotify, OpenAI, and more.

After Bob Iger stepped down as Disney CEO (succeeded by Bob Chapek), he joined Thrive Capital as a venture partner in September 2022. He ended up leaving that position a few months later when the Disney board called Iger back to replace Chapek, who was fired for a series of management missteps.

Per his agreement with Disney, Iger will remain employed by Disney through the end of 2026, where he will serve as a senior adviser to D’Amaro. Iger also remains on Disney’s board during this term.

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