Report: Mark Walter looking to sell the Los Angeles Sparks
Rey Moralde
Host · Writer
LOS ANGELES — Mark Walter is looking to sell yet another sports team. The Los Angeles Sparks, according to Bloomberg, are reportedly for sale as Walter is under investigation for federal loan fraud.
Walter acquired the Los Angeles Lakers from the Buss family for $10 billion last year, only to turn around to sell it for $12.5 billion last August to Josh Kushner and Bob Iger as the investigation continued. He also sold his ownership stake in Chelsea FC last month. Walter still maintains ownership of the Los Angeles Dodgers.
It was reported that Kushner and Iger have discussed acquiring the Sparks but as of now, they're not potential buyers.
The report also mentioned that Walter is looking to sell the team and its practice facility for more than $700 million, which would be a record for a WNBA team.
Mark Walter is looking to sell the Los Angeles Sparks.
He's asking for more than $700 million, which would be a record for a WNBA franchise.
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The Sparks have gone through a lot this year. The team parted ways with General Manager Raegan Pebley in July. In early August, the team dealt Kelsey Plum to pivot to a rebuild of sorts. Nneka Ogwumike would announce her retirement shortly after. In the beginning of September, Ariana Andonian was tabbed to replace Pebley for the GM spot and then after the season ended, Lynne Roberts was relieved of her head coaching duties.
It's not all bad for the Sparks as they immortalized Lisa Leslie's legacy with a statue at Star Plaza on September 20th. And in Ogwumike's retirement speech, she was honored as the Sparks facility named a recovery and relaxation space after her called the Nneka Ogwumike Player Sanctuary.
Still, it can't be said that there's nothing going on with the team. It'll be interesting who ends up acquiring the Sparks down the road.
