LeBron James
May 11, 2026; Los Angeles, California, USA; Los Angeles Lakers forward LeBron James (23) speaks with official Tony Brothers during the first half in game four of the second round of the 2026 NBA Playoffs at Crypto.com Arena. Mandatory Credit: Gary A. Vasquez-Imagn Images Credit: IMAGN IMAGES via Reuters Connect (Reuters)
LeBron James is the latest NBA player to have his finances come under scrutiny following a new report from Bloomberg that was published on Tuesday. According to the story’s headline, “**LeBron James Borrowed $300 Million From Insurers Arranged by Guggenheim**.”
Guggenheim is the financial services firm run by Mark Walter, the guy who owned the Los Angeles Lakers for about a year. He recently sold the team to Josh Kushner and Bob Iger. The Dodgers might be next. You’re probably familiar with all that.
MORE: LeBron James leaving Los Angeles looks even better now
If you are familiar with all that, the headline sounds pretty juicy. However, if you actually reading the article it sounds more like LeBron James was doing some basic rich guy stuff. So anyone expecting a year-long investigation into the Lakers committing cap circumvention is going to be disappointed. The story doesn’t seem to have anything to do with LeBron choosing or re-signing with the Lakers. Via Bloomberg:
“James’ borrowing from the two Midwestern insurers — structured as sales of asset-backed bonds — began when he was at the Cleveland Cavaliers and his career was poised for new heights.”
James signed with the Lakers in 2018. Mark Walter became a minority owner of the Lakers in 2021 and took over as the majority owner in 2025. Bloomberg also points out that during James’ recruitment a “longtime business partner” of Walter met with James. That longtime business partner was Magic Johnson.
MORE: How new Los Angeles Lakers owner Mark Walter made his fortune
LeBron James’ statement
NBA: Playoffs-Oklahoma City Thunder at Los Angeles Lakers
May 9, 2026; Los Angeles, California, USA; Los Angeles Lakers forward LeBron James (23) reacts after a foul in game three of the second round of the 2026 NBA Playoffs against the Oklahoma City Thunder at Crypto.com Arena. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images Credit: IMAGN IMAGES via Reuters Connect (Reuters)
“Both transactions were independently credit rated by a third party and the 2022 transaction was fully approved by NBA,” James’ spokesperson said, noting the athlete had no affiliation with Guggenheim, Sammons, North American Co. or Midland National beyond their participation in the transactions.
I’m not going to try and explain the financial stuff, mostly because I don’t understand it, but based on the reaction of people who read past the headline, it doesn’t seem like this is anything nefarious. For instance, Darren Rovell hailed it as “**an absolutely genius move by LeBron and his team**.” Basically just classic rich guy stuff.
Hunterbrook Media pointed out that the credit rating in the story was done by Egan-Jones. That’s the credit rating agency who apparently played a big role in some of the stuff that went on with Walter and Guggenheim. Hunterbrook has worked with Pablo Torre on some stories, so maybe this will end up being an episode of “Pablo Torre Finds Out,” as so many people who only read the headline of the Bloomberg story are demanding.