Los Angeles Lakers’ $12.5 billion sale has agent Jeff Schwartz livid with the NBPA over the NBA’s current CBA rules.
The Los Angeles Lakers’ record $12.5 billion sale to Josh Kushner and former Disney CEO Bob Iger has drawn a frustrated response from prominent NBA agent Jeff Schwartz, who used the massive valuation to criticize the NBPA and the league’s current collective bargaining agreement.
Excel Basketball shared a statement from Schwartz, the agency’s founder and CEO, on X, formerly known as Twitter, on Wednesday. Schwartz pointed to the Lakers’ sale while expressing frustration over the financial constraints that have contributed to a difficult free-agent market for veteran players.
“Incredible, the Lakers sell for $12B, yet teams won’t spend on older vets because of current CBA rules. Thank you, Union.”
Schwartz represents several accomplished veterans who remain in free agency limbo, including Russell Westbrook, Kevin Love, Kelly Olynyk and Dwight Powell. His comments highlight the growing frustration surrounding the NBA’s current CBA and its impact on how teams construct their rosters.
The agreement introduced more restrictive spending rules for teams operating above the luxury tax, including the first and second aprons. The second apron, in particular, carries significant roster-building restrictions that go beyond additional tax payments, giving organizations greater incentive to avoid committing substantial money to players outside their core.
Lakers’ record sale highlights Jeff Schwartz’s frustration with NBA’s CBA
Those restrictions have contributed to a changing market for veteran players as teams place a premium on financial flexibility, younger talent and inexpensive contracts. Even established players can face limited options when organizations are reluctant to add salary that could push them closer to an apron threshold.
That landscape creates a striking contrast with the escalating value of NBA franchises. The Lakers’ agreement with Kushner and Iger values the franchise at $12.5 billion, surpassing the $10 billion valuation attached to Mark Walter’s acquisition of the team in 2025.
For Schwartz, the disparity between soaring franchise valuations and a difficult market for older players appears to be a source of significant frustration.
His pointed reference to the union also places some of that responsibility on the NBPA, which negotiated the current CBA with the NBA. The agreement took effect in 2023 and runs through the 2029-30 season, although either side can opt out one year earlier.
As NBA franchise values continue to climb, Schwartz’s comments underscore the growing debate over whether the league’s current financial system has placed too many limitations on teams’ willingness to spend on veteran players.
The Los Angeles Lakers’ record $12. 5 billion sale to Josh Kushner and former Disney CEO Bob Iger has drawn a frustrated response from prominent NBA agent Jeff Schwartz, who used the massive valuation to criticize the NBPA and the league’s current collective bargaining agreement.
