See more of our coverage in your search results.
Mark Walter may not be finished selling parts of his sports empire.
The Dodgers owner sold the Lakers at a record-setting $12.5 billion valuation to Josh Kushner and Bob Iger earlier this year. Now, Walter may continue parting ways with another professional sports team in the Sparks, according to Bloomberg.
The talks for the WNBA team have been private, so it’s unclear who the potential buyers are. The Sparks are valued at $400 million, according to Sportico.
Walter is reportedly looking to sell the franchise as well as a related practice facility for more than $700 million. The practice facility was constructed for $150 million and is scheduled to open ahead of the 2027 WNBA season.
If Walter is successful in his endeavors to sell the Sparks, it would be the largest WNBA franchise sale in history. Tilman Fertitta, owner of the Rockets, currently holds the record for the $300 million purchase of the Sun.
Aside from selling the Lakers, the Guggenheim co-founder sold his stake in Chelsea FC to Clearlake Capital. Walter’s remaining holdings include the Dodgers, the Cadillac F1 team and the Professional Women’s Hockey League.
Team president Stan Kasten said the Dodgers were not for sale this summer.
Walter’s insurance firms have caught the attention of federal prosecutors, prompting the business mogul to reshape his holdings.