Walter is pricing the WNBA franchise and its practice facility at $700 million as his sports holdings keep shrinking amid a federal investigation into his wealth management firm.
Mark Walter's sports portfolio is getting smaller again. According to a Bloomberg report, the Dodgers owner is looking for a buyer for the WNBA's Sparks and the team's practice facility, with the asking price set at $700 million.
Walter bought the Sparks in 2014 and has owned them well before his more recent, higher-profile moves in sports ownership. Earlier this year he sold his majority stake in the Lakers to former Disney CEO Bob Iger and venture capitalist Joshua Kushner at a record $12.5 billion valuation, along with his stakes in Chelsea FC.
The sell-off comes as Walter's wealth management firm faces scrutiny from the U.S. Attorney's Office in Manhattan and the Securities and Exchange Commission, following a whistleblower complaint about allegedly misrepresented loans between Guggenheim-founder Walter's companies. MLB Commissioner Rob Manfred confirmed the league is keeping tabs on the situation, telling reporters, "As always when we have an investigation, external law enforcement, whatever, we monitor that and that's where we are right now."
Walter still owns the Dodgers, but the pattern is clear: as legal pressure mounts, he keeps finding buyers for the other franchises in his collection.