Chelsea, LA Lakers & Mark Walter’s Crumbling Empire

Comments · 21

• LI

  @Liverpoolchat · 1 month ago

  How will this affect the pwhl

  1

• AL

  @allenbracchi8922 · 1 month ago

  Ken Bates sold it to Roman Abramovich for 140 million 😮 in 2003 .

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• RA

  @RafaelDiaz-ir8jn · 1 month ago

  Owner Mark Walter’s Billion-Dollar Insurance Scandal: This Deferred Team is in serious trouble with the SEC and DOJ  insurance Scams

  2

• NA

  @nat5112 · 1 month ago

  As someone who works in finance, the gentleman on the left could have explained this better, but it also looks like they didn’t do enough research.<br><br>It’s hard to take someone seriously when they say the SEC is “scary.” The SEC is mostly toothless when it comes to criminal enforcement. At the end of the day, its primary weapon is imposing potentially huge fines, and most sophisticated players in the industry factor these into the cost of doing business.<br><br>The Mark Walter situation is different because the DOJ is involved. That’s a federal case, and even with a corrupt administration like this one, the DOJ is still feared. You absolutely do not want the Department of Justice anywhere near what you’re doing, which is probably one of the reasons he moved so quickly to sell.<br>And the fact that the Kushners are the recipients of the asset is also pretty telling, considering their ties to the Trump family.

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• CR

  @crishalios · 1 month ago

  The fact is and something to look at Joshua Kushner has 5 billion and the other partner has$600.000 thousand where is the rest of 6 Billion money coming from?

  1

• BE

  @beantaz3862 · 1 month ago

  He could presumably sell off the PWHL for a massive-yet-reasonable growth multiple.

• RO

  @RobertNemet-rj7qr · 1 month ago

  When you run a Ponzi scheme like he did eventually you run of &nbsp;money

  3

• GO

  @gopher27 · 1 month ago

  Walter bought a majority stake in the Los Angeles Lakers at a $10 billion dollar valuation. &nbsp;He is now selling his stake at a $12.5 billion valuation. &nbsp;The long time owners of the Lakers still own a significant minority share (15%-20%), while less significant minority shares are owned by an ethnically Hakka, South African immigrant biotech entrepreneur and another by the real estate developer who built the Staples Center. &nbsp;Mark Walter did not pay $10 billion for his stake nor is he selling his stake for $12.5 billion. &nbsp;He probably owned around 75% of the team which he bought in chunks at different escalating prices. &nbsp;While he may have made $2.5 billion that is only because his total cost basis on his share of the club was well below the $10 billion final valuation. &nbsp;He initially bought in at a $5 billion dollar valuation on his first 21%. &nbsp;He probably paid around $6 billion for ~75% of the club, which he has agreed to now sell for between $9 billion and $9.5 billion.<br><br>The bigger issues for Chelsea is whether there is debt involved. &nbsp;What Walter was doing was investing premium money from his insurance companies with private credit funds that were then turning around and underwriting private credit lending to sport ventures controlled by Walter. &nbsp;If Chelsea has been contracting private credit debt by the same means that we know Walter was dealing in, then all of that debt would need to be rolled over with some unaffiliated lender relatively quickly.

  7

• JJ

  @jjcbeme62 · 1 month ago

  Walter personally owns 27% of the Dodgers.

• RA

  @raulperez4528 · 1 month ago

  shocking, the dude that didn&apos;t know what he was doing with Sunderland AFC (left) is talking out of his ass on this subject as well. Poor presentation / definitely should&apos;ve done more research.

  1

• RE

  @redemptionneeded · 1 month ago

  Big deal - he sold Lakers anyways

• MV

  @mvmv-pn8zt · 1 month ago

  Poor research &amp; presentation

  8