Mark Walter sells Lakers amid federal investigations and financial scrutiny

Los Angeles billionaire Mark Walter, who also leads the investment firm Guggenheim Partners and co-owns the Los Angeles Dodgers, announced the sale of the Lakers to former Disney CEO Bob Iger and venture capitalist Joshua Kushner. The transaction, completed within 72 hours, values the team at more than $2 billion above the price Walter paid a year earlier.

The sale comes as federal authorities have intensified scrutiny of Walter’s business activities. In September 2025, FBI agents seized Walter’s laptop and phone from a private jet, and a whistleblower has alleged that Walter used insurance-company assets to fund improper loans. The Department of Justice and the Securities and Exchange Commission are investigating whether billions of dollars of insurance-company capital were routed through Walter’s holding entities for private-credit investments.

Walter, who built his wealth through asset-backed securitization and later as co-founder of Guggenheim Partners, has a history of low-profile ownership of major sports franchises. He led the $2.15 billion acquisition of the Dodgers in 2012 and became the Lakers’ majority owner in 2023. Despite the rapid turnover of the Lakers, he remains a principal owner of the Dodgers, who are the reigning World Series champions.

"This is a Laker story, not really a Dodger story," Dodgers president and part-owner Stan Kasten said when asked about the sale.

Walter’s spokesperson, speaking through ESPN reporter Ramona Shelburne, thanked the Lakers for what he called “an extraordinary investment” but declined to comment on the investigations. No immediate plans have been announced for Walter to divest his stake in the Dodgers, although the ongoing probes could affect his broader business empire.

Industry analysts note that Walter’s use of insurance-company capital for private-credit deals has drawn regulatory attention for potentially violating fiduciary rules. The investigations focus on whether loans tied to Walter’s entities represent a conflict of interest and whether the scale of such loans—estimated at up to 42 percent of one insurer’s portfolio—exceeds permissible limits.

The Lakers sale adds a new dimension to the scrutiny of Walter’s financial network, which includes holdings in technology, automotive, and real-estate ventures. Observers will watch how the investigations progress and whether they influence Walter’s future involvement in professional sports ownership.