Joshua Kushner and Brandon Arrindell have purchased separate minority stakes in the Grizzlies, league sources tell Geoff Calkins and Chris Herrington of The Daily Memphian. A team spokesperson has confirmed the news to The Daily Memphian, while Kevin Draper and Marc Stein of the New York Times report that Kushner’s transaction was finalized in February.
Kushner, the founder of venture capital investment firm Thrive Capital, is the brother of Jared Kushner, President Donald Trump’s son-in-law, though he’s a lifelong Democrat who said he voted against Trump, per The Times’ report. Neither Jared nor his father Charles is involved in Joshua’s investment in the Grizzlies, Draper and Stein add.
According to Calkins and Herrington, Arrindell is a senior analyst and principal at Southeastern Asset Management, a local investment management firm which boasts another Grizzlies minority owner – Staley Cates – as its vice-chairman.
It’s not clear how much of the team the Grizzlies’ new minority shareholders will control. Per the Daily Memphian’s report, a stake of 10% or more would trigger a review by the NBA’s Board of Governors, and that didn’t happen. A league source tells Calkins and Harrington that Kushner’s and Arrindell’s new shares are of “comparable though perhaps not equal” value.
Grizzlies controlling owner Robert Pera reached a deal about a year ago to buy out Steve Kaplan and Daniel Straus, who owned approximately 28% of the team at that time. It seems likely that the portion of the franchise sold to Kushner and Arrindell came out of those shares.
WTF does someone’s political stance have anything to do with this?
He purchased a share of the Memphis Grizzlies. You know where else has Grizzlies? Russia!!! The fix is in.
Multiple members of Trump’s family, including Jared Kushner, have been given roles in his administration. The mention of Joshua Kushner’s position/affiliation is meant to make it clear that this isn’t part of the extended family business, which would be even more newsworthy, given that Trump and many prominent NBA players (Curry, LeBron, etc.) have been at odds in recent years.
Exactly. Tired of people being demonized because they voted for trump. I didn’t and I don’t care who else did or didn’t.
Guy isn’t being demonized just showing he’s not connected to the president which would be certainly interesting when it came to the NBA. Triggered easily
Looks like you are
The vote itself isn’t important and I’m not casting any judgment on it one way or another — it’s just a means of illustrating that he has no real connection to Trump, since such a connection would have been newsworthy for a new NBA owner.
I’m really glad to know who this guy voted for me. Crucial as an NBA fan.
It could have been a potential issue, if Kushner were directly connected with President Trump. The NBA is a player’s league and several of the most important NBA players have serious issues with President Trump. Having a Kushner directly related to the administration owning part of an NBA franchise could lead to unrest.
I likes me some unrest
Stirring insight from someone with Coon in their username.