Mark Walter sells Lakers amid investigation and profit opportunity

Mark Walter has sold the Los Angeles Lakers for $12.5 billion just one year after purchasing the team. The sale caught NBA fans and owners off guard, occurring in under 72 hours after Joshua Kushner and Bob Iger made the offer. Walter's decision follows reports of an ongoing FBI investigation into his financial dealings, including questions surrounding related party transactions at his ventures like Guggenheim Partners. TWG Global, his holding company, claims to be cooperating with authorities and insists on Walter's integrity. The sale indicates significant financial maneuvering amidst scrutiny.

• 1:41 AMYahoo Sports — Mark Walter investigation explained: The timing of the Lakers' $12.5 billion sale can't be ignored