Mark Walter sought loan against Lakers stake before selling

Mark Walter, the majority owner of the Los Angeles Lakers, attempted to secure a loan against his stake in the team before agreeing to sell it to Josh Kushner and Bob Iger. Reports indicate Walter engaged with private investment firm Apollo Global Management for a multibillion-dollar loan throughout the summer, as financial issues surfaced. The Lakers have a significant television deal with Spectrum SportsNet, and Walter's motivations for selling are being questioned amid these financial concerns. In related developments, the Buss family voted to sell their remaining stake in the franchise, although Jeanie Buss opposes the transaction and seeks to maintain her governor role until 2030.

• 3:47 AMYahoo Sports — Report: Mark Walter tried to take out a loan against his Lakers stake