Bill Simmons thinks the legal situation surrounding former Los Angeles Lakers owner Mark Walter could become far more serious, even wondering whether the billionaire could eventually face prison time.
Speaking on his podcast, Simmons discussed Walter’s decision to sell the Lakers amid reports of a federal investigation connected to his business empire. With Walter also looking to unload other major assets, Simmons wondered whether these moves could signal bigger trouble ahead.
“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?”
It is important to note that Simmons is just speculating here about Walter’s future rather than reporting that Walter will be charged or imprisoned. According to the information surrounding the investigation, no criminal charges have been filed against Walter.
But the uncertainty surrounding Walter’s business interests has certainly intensified following the Lakers sale.
Walter recently agreed to sell his controlling interest in the Lakers after a short tenure as majority owner. The franchise was sold at a $12.5 billion valuation to an ownership group led by Josh Kushner and Bob Iger, which is significantly higher than the $10 billion valuation attached to Walter’s purchase.
Reports have hinted that the surprising sale is linked to Walter’s need to raise liquidity and scrutiny involving loans connected to his companies. Walter’s insurance business reportedly had $10 billion in loans connected to other entities within the broader business network.
Sam Koppelman, who was on the show with Simmons, also said that Walter Sports Holdings could potentially be in play.
“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.”
And that possibility would have enormous implications beyond the NBA. Walter Sports Holdings includes stakes connected to the Lakers, Chelsea Football Club, and, most significantly, the Los Angeles Dodgers.
Simmons thinks a potential Dodgers sale would turn Walter’s situation into one of the biggest stories in American sports.
“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 ownership group had been willing to spend an enormous amount of money on the Dodgers roster, which helped them become a powerhouse that won back-to-back World Series titles.
But for now, the possibility of Walter going to jail remains, as Simmons presented it, speculation. There is a significant difference between an investigation, potential violations, and a criminal conviction that could lead to prison time.
But Walter’s rapid Lakers sale and reports surrounding the sale of his other assets have clearly convinced Simmons that this story is just getting started.
What initially looked like another historic NBA transaction could ultimately become part of a much larger story surrounding one of the most powerful owners in American sports.
