Mark Walter Cashing $2.5 Billion Profit From Lakers Sale Raises Colin Cowherd’s Eyebrows

Mark Walter purchased the Los Angeles Lakers 14 months ago for $10 billion with the view of turning it into champions.

Mark Walter Cashing $2.5 Billion Profit From Lakers Sale Raises Colin Cowherd’s Eyebrows

Mark Walter and Colin Cowherd (Image via Baseball Ruse/X/Imago)

Now that the initial shock of the news that the Los Angeles Lakers were sold for $12.5 billion has worn off, the focus shifts to why previous owner Mark Walter gave up on a franchise he was set on building into a juggernaut.

Previous owner Jeanie Buss and her family were widely known as the poorest in the league. They were so poor that not only were they cutting corners, but the lack of revenue from not owning the arena the team plays in consistently saw the team lose out on top personnel.

After that $10 billion sale, Walter started to send over Los Angeles Dodgers executives to work with his new team. The goal was to help the NBA franchise become as successful as their MLB counterparts.

That is why this news turned from shock to raising eyebrows. The most obvious question was why Walter would flip a team this early when he was investing in it to turn it into champions.

He could be in real trouble according to a federal investigation. He may need 2.5 billion dollars. He didn’t buy it to sell it. He didn’t think the Lakers were a high-priced condo he could flip… He needs cash fast.

Colin Cowherd said on The Herd

The 62-year-old believes that the federal investigation into his activities in Chicago may have pushed Mark Walter into selling the Lakers. He may not have wanted to. But knowing he will likely have to pay an astronomical fine, the profit he made off this deal will help him cover that.

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The federal investigation may have been serious enough for Mark Walter to cash in on a sale to build the finances needed to pay potential fines. But he could have made a lot more if he sold the Los Angeles Dodgers, who are on an impressive streak of winning three World Series titles in six years.

Superstar guard Luka Doncic
Superstar guard Luka Doncic (Image via Keith Birmingham/X)

He could have also sold his 12.5% stake in Premier League club Chelsea to raise funds. But Colin Cowherd believes that something about the Lakers made it easier for the 66-year-old to bail on them.

The Lakers did not make, with Luka as their centerpiece, the opening night of the NBA schedule. They would’ve with LeBron… Mark Cuban sold the Mavs with Luka… Championship head coach Rick Carlisle quit in year 3 with Luka… The Mavs traded him, and not for a big package. Jeanie Buss sold the team with Luka… The NBA bailed on the Lakers… There is a pattern.

Cowherd said

The FS1 analyst pointed out that one can dismiss Mark Walter selling the team as the result of the federal investigation. But Cowherd believes that the only reason he decided to sell the Lakers instead of his other assets was that any team with Luka Doncic leading it is not enticing enough to hold on to.

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Many might scoff at Colin Cowherd’s suggestion that Luka Doncic is potentially driving owners away. They could claim that all the events he mentioned are nothing but coincidental.

The only part one cannot argue is that despite the Slovenian’s presence as their superstar, the NBA still elected not to feature its most marketable franchise on Opening Day. Then there is Kyle Kuzma, a player who was part of the last championship the team won, who wrote this on X.

Nobody flips a crown jewel in 14 months because its gong well.

Kyle Kuzma wrote

He added an ‘exploding head’ emoticon to indicate that this $12.5 billion sale baffled him. The only reason he could think of is if the team was not good enough for Mark Walter to decide to flip it this fast.

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