Walter, however, has since come under federal …
· Yahoo Sports
The latest sale adds about $2.5 billion to the Lakers’ valuation since Walter and his partners acquired them from the Buss family and sets a valuation record for a control sale of a U.S. pro sports franchise, topping Walter’s own mark from last year. Walter, however, has since come under federal investigation for alleged tax fraud involving insurance companies he controls. There are separate probes underway by U.S. prosecutors and the U.S. Securities and Exchange Commission. It is unclear to what degree that situation is connected to the Lakers sale, if at all, but the reselling of the franchise still represents one of the most surprising events in recent sports history.
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This article originally appeared on Hoops Hype: Walter, however, has since come under federal …