American billionaire Mark Walter plans to sell the Los Angeles Sparks basketball club, in which NBA legend Magic Johnson also owns a stake. The asking price exceeds USD 700 million, and includes the team’s new training facility, Billionaires.Africa reports, citing information from Bloomberg.
Talks with potential buyers are at an early stage, and no agreement has been reached so far. If the sale is completed at the announced valuation, it would be more than twice the previous record for a deal involving a team from the Women’s National Basketball Association (WNBA).
The previous high was recorded in May 2026, when Houston Rockets owner Tilman Fertitta acquired the Connecticut Sun for USD 300 million. The team is expected to move to Houston for the 2027 season.
The sale price for the Los Angeles Sparks also includes a new training complex in El Segundo, California, valued at USD 150 million. The facility is expected to open before the start of the 2027 season. When the project was unveiled in September 2025, the club described it as the largest investment in training infrastructure ever made by an individual team in the history of women’s sports.
According to Sportico estimates from April 2026, the club itself was worth approximately USD 400 million, placing it seventh among the most valuable teams in the WNBA. By comparison, the Golden State Valkyries are valued at USD 850 million, while the New York Liberty are valued at USD 600 million.
Mark Walter and Magic Johnson led the investment group that acquired the Los Angeles Sparks in February 2014. At the time, the deal helped keep the club in Los Angeles and prevented its potential relocation to another city.
Two years after the acquisition, the team won the WNBA championship. In recent seasons, however, its performance has deteriorated. In 2026, the Sparks finished with 16 wins and 28 losses and missed the playoffs for the sixth consecutive year.
The potential sale is the latest change in Mark Walter’s sports investments. In August 2026, he agreed to sell his controlling stake in the Los Angeles Lakers to a group led by former Walt Disney executive Bob Iger and investor Josh Kushner. The deal valued the basketball club at a record USD 12.5 billion.
Walter has also parted with his nearly 13% stake in English football club Chelsea, selling it to Clearlake Capital. He retains his interests in the Los Angeles Dodgers baseball team, the Cadillac Formula 1 team and the Professional Women’s Hockey League.
The sales are taking place amid investigations by federal prosecutors and the U.S. Securities and Exchange Commission (SEC) into the disclosure of financial transactions between Walter’s insurance companies and affiliated enterprises. The businessman has not been charged. His holding company, TWG Global, rejects claims that it is selling sports assets at depressed prices to provide funds for its insurance business.
Magic Johnson, who turned 67 in August, is one of the most successful basketball players in NBA history. He won five championships with the Los Angeles Lakers in the 1980s and built a major business through Magic Johnson Enterprises after ending his playing career.
His investments span real estate, financial services, restaurants and professional sports. In addition to the Sparks, Johnson owns stakes in the Los Angeles Dodgers and the Washington Commanders American football team.
The potential sale of the Los Angeles Sparks highlights the significant increase in investor interest in women’s professional sports in the United States. Rising revenues from television rights, sponsorships and attendance are driving up team valuations, even though their financial results and sporting achievements vary considerably.