Mark Walter’s decision to sell the Los Angeles Lakers comes as federal authorities investigate financial transactions involving his business empire.
Days before Walter agreed to sell his controlling interest in the Lakers to Josh Kushner and Bob Iger for $12.5 billion, reports emerged that investigators were examining how billions of dollars allegedly moved through his companies.
The Securities and Exchange Commission and the US Attorney’s Office in Manhattan are investigating approximately $16 billion in loans that appeared on TWG Global’s balance sheets, according to the Wall Street Journal.
Authorities are reportedly looking into whether any fraud occurred. TWG Global has denied wrongdoing and defended Walter.
“Those who have done business with Mark know him as honest and straightforward,” a spokesperson said. “Nothing about these transactions was any different. We are confident these matters will be resolved favorably.”
The Lakers deal reportedly came together quickly, with Kushner and Iger approaching Walter on Sunday and reaching an agreement within roughly 72 hours.
Walter had purchased control of the Lakers from the Buss family last year at a valuation of around $10 billion before agreeing to sell the franchise for $12.5 billion.
“Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said.
“I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Lakers’ sudden $12.5 billion sale comes amid Mark Walter federal investigation https://t.co/6PUvAkkie9 pic.twitter.com/BqsJkFM80D
— New York Post (@nypost) August 12, 2026
