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Mark Walter seeks buyer for Los Angeles Sparks after selling Lakers, per report
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- Mark Walter seeks buyer for Los Angeles Sparks after selling Lakers, per report
After selling his majority stake in the Los Angeles Lakers for a record $12.5 billion valuation, American businessman Mark Walter is reportedly looking to offload the Lakers' WNBA counterpart, the Los Angeles Sparks.
Walter, the Los Angeles Dodgers co-owner and TWG Global CEO, is looking for a buyer for the WNBA franchise and its new practice facility, according to Bloomberg. The asking price? More than $700 million.
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Sportico values the Sparks at $400 million, ranking seventh among WNBA franchises. The 64,000-square-foot practice facility in El Segundo, California, cost $150 million to construct, marking the largest investment in the history of women's sports for a single team. The Sparks play home games at Crypto.com Arena in Los Angeles.
A investment group led by Walter and Earvin "Magic" Johnson purchased the franchise in 2014 to "help save the Sparks and keep them in Los Angeles," Walter said at the time. The Sparks won a WNBA championship in 2016, but the founding franchise has fallen from grace in recent years, missing the playoffs in six consecutive seasons.
Walter purchased a majority stake in the Lakers from the Buss family in October 2025 at a valuation of $10 billion. The Buss family had held controlling interests in the Lakers since 1979. Less than two years later, Walter sold his stake in the Lakers to businessman Joshua Kushner and former Disney CEO Robert Iger for $12.5 billion, marking the highest amount ever paid for a North American sports franchise.
That's not the only franchise Walter has sold from his extensive sports portfolio. Walter also sold his stake in Premier League soccer club Chelsea FC in September.
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The moves coincide with a potential federal fraud investigation into the Guggenheim Partners CEO, though neither the U.S. Government nor the Securities and Exchange Commission have brought charges.
Walter still maintains ownership in several other sports entities, including the Los Angeles Dodgers and RC Strasbourg Alsace, which is in France's Ligue 1. Through his TWG Global holding company, he was the founding investor of the Professional Women's Hockey League and also owns the Cadillac Formula 1 team, though he may be seeking to sell his F1 ownership share as well .
Contributing: Victoria Hernandez
This article originally appeared on USA TODAY: Mark Walter seeks buyer for Los Angeles Sparks after selling Lakers, per report
