Mark Walter seeks $700 million sale of Los Angeles Sparks

Mark Walter, co-founder of Guggenheim Partners, is seeking to sell the WNBA’s Los Angeles Sparks for more than $700 million. The proposed valuation includes the franchise and a new $150 million practice facility scheduled to open before the 2027 season. If successful, the deal would set a new WNBA record, more than doubling the previous record of $300 million set by the sale of the Connecticut Sun.

The sale comes as Walter undergoes a significant restructuring of his sports holdings amid a federal investigation. Prosecutors and the SEC are reportedly probing allegations that Walter improperly directed policyholder funds and misrepresented loans between his insurance firms to support personal ventures.

In response to the scrutiny, Walter has already divested several major assets, including the Los Angeles Lakers for $12.5 billion and a stake in Chelsea FC. While his sports empire is shrinking, Walter still maintains ownership of the Los Angeles Dodgers, the Cadillac Formula One team, and the Professional Women’s Hockey League. Dodgers President Stan Kasten has explicitly denied any plans to sell the baseball franchise.