Bill Simmons raised the stakes around former Los Angeles Lakers owner Mark Walter on his podcast, floating the idea that the billionaire’s current legal troubles could end up in a far more serious place.
Simmons was talking through Walter’s decision to sell the Lakers while reports swirl around a federal investigation tied to his business empire. He pointed to Walter’s broader moves to offload major assets and suggested that the pattern could mean more trouble is coming.
“It’s starting to seem like he might actually go to jail. He’s already shed himself of the Lakers.
He’s selling his Chelsea stake reportedly right now, which was like 12 and a half percent. And my guess is the Dodgers are going to be next.”
“So what is this? Is this like, are we moving toward like a Bernie Madoff, Ivan Boesky type of situation? Will the words, ‘Mark Walter today pled guilty…’ Will that sentence be said in the next two years?”
That was speculation from Simmons, not a report that Walter will be charged or imprisoned. As things stand, no criminal charges have been filed against Walter.
Still, the Lakers sale has only sharpened the focus on Walter’s business holdings. He recently agreed to sell his controlling interest in the team after a short run as majority owner, with the franchise changing hands at a $12.5 billion valuation to an ownership group led by Josh Kushner and Bob Iger. That figure stands well above the $10 billion valuation tied to Walter’s purchase.
Reports have linked the abrupt sale to Walter’s need for liquidity and to scrutiny involving loans tied to his companies. Walter’s insurance business reportedly had $10 billion in loans connected to other entities within the larger business network.
Sam Koppelman, who joined Simmons on the show, said Walter Sports Holdings itself could also be on the table.
“I think it’s really possible. I also think the Trump administration has not put away very many billionaires. And so I’m sure they work something out.”
“But I don’t think there’s a single safe asset in the entire Mark Walter cinematic universe. Like, I think it’s potentially all for sale. And I do think that the Dodgers being sold, I think all of this is on the table.”
That’s where this story stretches beyond the NBA. Walter Sports Holdings includes interests tied to the Lakers, Chelsea Football Club, and most notably the Los Angeles Dodgers.
For Simmons, a Dodgers sale would push the situation into a different class entirely.
“But that’s why this is such a bigger story than just the Lakers. Like, if he has to sell the Dodgers, who spent so much money over the last seven years that they’re going to single-handedly create the baseball lockout next year.”
“They also won two titles. He’s had all this extra money to buy the last two World Series titles. The Dodgers are back-to-back champions, partly because of all the fucking money this guy spent.”
Walter’s group had poured huge sums into the Dodgers roster, helping build a team that won back-to-back World Series titles.
For now, though, Simmons’ prison talk remains exactly that: speculation. The gap between an investigation, possible wrongdoing and an actual conviction is enormous.
But with Walter already moving on from the Lakers and other assets reportedly in motion, Simmons clearly sees a story that is only beginning to unfold. What looked like a blockbuster NBA sale may end up becoming something much larger involving one of the most powerful owners in American sports.
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