WSJ: After selling Lakers, Mark Walter also intends to sell Chelsea stake

Published Aug 14, 06:13 AM UTC

According to an exclusive Wall Street Journal report, Mark Walter, CEO of Guggenheim Partners and owner of the Los Angeles Lakers and Dodgers, sold a controlling stake in the Lakers to Joshua Kushner and Bob Iger for $12.5 billion, the highest price in sports history. The sale came after federal investigators began scrutinizing Walter's business empire, and his insurance companies urgently needed liquidity. A source revealed that Walter also expressed interest in selling his minority stake in Premier League club Chelsea. The Manhattan U.S. Attorney's Office and SEC are investigating how billions in loans flowed through third-party entities into Walter's accounts. Walter had only bought the Lakers a year earlier for $10 billion.