{"id":19388,"date":"2026-07-20T23:10:36","date_gmt":"2026-07-20T23:10:36","guid":{"rendered":"https:\/\/playball.com.ng\/?p=19388"},"modified":"2026-07-20T23:10:36","modified_gmt":"2026-07-20T23:10:36","slug":"us-prosecutors-investigating-firms-run-by-billionaire-owner-of-la-dodgers-lakers-and-chelsea","status":"publish","type":"post","link":"https:\/\/playball.com.ng\/?p=19388","title":{"rendered":"US prosecutors investigating firms run by billionaire owner of LA Dodgers, Lakers and Chelsea"},"content":{"rendered":"


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By DANIEL MATTHEWS, US SENIOR SPORTS WRITER <\/span><\/a> <\/p>\n

Published:<\/span>

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US prosecutors are reportedly investigating companies run by Mark Walter, the billionaire owner of the Los Angeles Lakers, the Los Angeles Dodgers and the co-owner of Chelsea.<\/p>\n

Walter, who is the CEO of investment firm Guggenheim Partners and is estimated to be worth $7.3billion, has become one of the most powerful figures in sports after making his fortune on Wall Street. <\/p>\n

But, as reported by Bloomberg and the Financial Times, two of Walter’s insurance companies are facing subpoenas from the US Attorney\u2019s Office for the Southern District of New York and the US Securities and Exchange Commission.<\/p>\n

It’s claimed both Delaware\u00a0Life Insurance Company and Clear Spring Life and Annuity Company face questions over\u00a0whether they adequately disclosed ownership of assets related to other parts of Walter’s business empire. <\/p>\n

According to Bloomberg, the FBI\u00a0‘executed at least one search warrant’ to seize a cell phone.\u00a0In a statement, Walter’s holding company, TWG Global, told the FT it is ‘aware of and cooperating with the investigation.’<\/p>\n

As detailed by the FT, the billionaire\u00a0has become known for using insurance companies to help fund takeovers including his $2bn deal for baseball’s Dodgers in 2012.<\/p>\n

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US prosecutors are investigation companies run by Mark Walter, the billionaire owner of the Los Angeles Lakers, the Los Angeles Dodgers and the co-owner of Chelsea<\/p>\n<\/div>\n

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\"Walter <\/div>\n<\/p><\/div>\n

Walter is pictured at the White House alongside President Trump during a celebration of LA’s World Series win<\/p>\n<\/div>\n

Walter owns the WNBA’s LA Sparks and is the primary financial backer of the Professional Women’s Hockey League. He also invests in tennis’ Billie Jean King Cup and the Cadillac Formula 1 team.<\/p>\n

But he is best known for his roles with Chelsea, the Dodgers and the Lakers. The 66-year-old was part of the consortium – led by Todd Boehly – that paid \u00a32.5bn ($3.36bn) for Premier League giants Chelsea in 2022.<\/p>\n

A decade earlier, he led the group that bought the Dodgers out of bankruptcy. Since then, they have become baseball’s dominant force thanks to superstars such as Shohei Ohtani.<\/p>\n

Walter bought the Sparks – with Magic Johnson – in 2014 and last year, he became the majority owner of the Lakers in a deal worth a reported $10bn. <\/p>\n

Group 1001, an entity of TWG that owns Delaware Life and Clear Spring, told the Financial Times it was co-operating with prosecutors and the SEC, adding it was undertaking ‘remediation plans… to reduce and restructure certain of the investments at issue.’ <\/p>\n

The Daily Mail has contacted the Lakers, the Dodgers and Chelsea for comment. <\/p>\n<\/div>\n

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