Mark Walter, co-owner of the Los Angeles Dodgers, is reportedly looking to sell the WNBA's Los Angeles Sparks, signaling another step in reshaping his extensive sports-team holdings. The move comes as federal prosecutors are investigating dealings at Walter’s insurance firms, which has prompted a reorganization of his financial interests, according to people familiar with the matter.
The potential sale includes both the franchise and a new practice facility in El Segundo, with Walter reportedly seeking more than $700 million. If finalized at that price, the deal would easily surpass the current WNBA record for a team sale. That record is currently held by Tilman Fertitta, owner of the Houston Rockets, who bought the Connecticut Sun for $300 million and is in the process of moving that franchise to Houston. Sportico, which tracks sports valuations, estimates the Sparks' value at $400 million.
The related practice facility, a $150 million investment in El Segundo, is scheduled to open before the 2027 WNBA season. It has been described as the largest investment in women’s sports in the U.S., but it requires new ownership to move forward. The Sparks currently play their home games at the Crypto.com Arena.
This isn't Walter's first major sports divestment this year. He previously sold the NBA's Los Angeles Lakers earlier this year to Joshua Kushner and Bob Iger. That transaction valued the Lakers at $12.5 billion. While Kushner and Iger did discuss acquiring the Sparks, people familiar with the private discussions indicate they are not currently among the potential buyers for the WNBA team. Additionally, Walter sold his stake in Chelsea FC to Clearlake Capital after the Lakers sale.
Walter's remaining sports holdings include the Dodgers, for whom he is co-owner, as well as the Cadillac Formula One team and the Professional Women’s Hockey League. Dodgers President Stan Kasten addressed the status of the Dodgers in August, telling The Times that "There's no process that has been started to sell it, period."
The Sparks, one of the original eight teams when the WNBA was founded in 1997, have seen a challenging stretch recently. The team finished the most recent WNBA season with a 16-28 record and has not made the playoffs for six consecutive seasons.
A spokesperson for Joshua Kushner and Bob Iger declined to comment on the matter. A spokesperson for TWG Global, Walter’s holding company, did not immediately respond to a request for comment regarding the potential sale.
