Mark Walter reportedly looking to sell WNBA's Sparks next after Lakers, Chelsea FC sales — SkimNews
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- Mark Walter is seeking to sell the WNBA's Los Angeles Sparks and its $150 million practice facility for $700 million, a price that would far exceed the current WNBA franchise sale record of $300 million.
- Los Angeles Sparks underwent sweeping leadership changes in 2024, including the hiring of president Stacy Johns, firing of GM Raegan Pebley and coach Lynne Roberts, and the trade of star guard Kelsey Plum.
- Josh Kushner and Bob Iger, who bought the Lakers from Walter earlier in 2024, are reportedly not interested in purchasing the Sparks despite their prior investment in the team’s ecosystem.
- Tilman Fertitta set the previous WNBA record by purchasing the Connecticut Sun for $300 million with plans to relocate the team to Houston and revive the Comets by 2027.
- Guggenheim Partners, led by Walter, is under federal investigation by the U.S. Attorney’s Office and SEC over $16 billion in loans tied to Walter or TWG Global that moved through insurance companies he owns.
- TWG Global has been actively working to reduce or restructure affiliated loans on its insurers’ balance sheets amid subpoenas and internal reviews identifying disclosure issues in certain transactions.
Why it matters: If Walter sells the Sparks, it would mark another major shift in his sports portfolio amid regulatory scrutiny; the $700 million ask—2.3x the prior WNBA record—reflects soaring franchise valuations but faces uncertainty given the team’s playoff drought and lack of interest from the Lakers’ new owners.
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