Is the Lakers' new owner in trouble? Under federal investigation to verify potential financial misconduct.

On July 21 Beijing time, according to Bloomberg, the Los Angeles Lakers' new owner Mark Walter is being investigated by federal agencies. Authorities are checking if there are any financial violations in some of the operations under his business portfolio.

Federal prosecutors and the U.S. Securities and Exchange Commission (SEC) are conducting an investigation to determine whether two insurance companies under Walter and Guggenheim Partners failed to accurately disclose certain private credit investments, which were actually used to support other affiliated entities within his financial system.

Bloomberg reported, citing regulatory filings made public in June, that these two insurance companies received grand jury subpoenas in February. The investigation is ongoing, and no criminal charges have been filed yet.

According to the report, Walter controls these insurance companies through TWG Global Group, while also holding shares in Guggenheim Partners.

Walter is well-known in the financial world, and sports fans recognize him as one of the most influential owners in professional sports. Last year, he completed the acquisition of a majority stake in the Lakers, with longtime team executive Jeanie Buss remaining as the team's governor, overseeing the day-to-day basketball operations.

In addition to the Lakers, Walter also owns the Los Angeles Dodgers (baseball) and the Los Angeles Sparks (WNBA), and holds stakes in Chelsea Football Club, the Professional Women's Hockey League, and several other sports assets.

Neither Walter nor TWG Global Group has publicly commented on the investigation rumors. Bloomberg notes that the federal probe is still in progress, and the allegations have not been confirmed in court, so they are not conclusive.

In 2025, Walter completed the acquisition of a majority stake in the Lakers, with the team valued at $10 billion, setting a record for a North American professional sports transaction. He had already purchased a minority stake in the Lakers in 2021 and secured a right of first refusal. After the deal, the Buss family retained a small equity stake, with Jeanie Buss continuing as the team's governor for at least five years, fully responsible for the day-to-day basketball operations, while Walter holds controlling interest in the team.