Even Magic Johnson’s investment couldn’t help keep the Los Angeles Sparks afloat, as the team could be heading towards the biggest sale in WNBA history just a few months after they held the topping-out ceremony for their brand-new state-of-the-art training facility in August 2026. It seems like nothing can stop Mark Walter’s crumbling sports empire, as the Sparks are touted to join the death march that began with the Los Angeles Lakers.
Bloomberg published an article on October 24 claiming that the majority-stake owner of the LA Sparks, Walter, is looking to sell the franchise along with the training facility, which will be open before the 2027 season, for $700 million. This news was posted to X by UnderdogWNBA. The team was one of the first created when the league launched in 1997, and it is one of three teams from the original eight that still keep their original franchise name. But it seems like the losses the team is facing on the business side of things are too much to handle for the current owners.
We found proof of this back in 2025, when Earvin “Magic” Johnson, who owns a minority stake in the Sparks, opened up about the struggles the franchise was facing.
“We’ve owned the Sparks for a few years. We haven’t made a dime. It’s been a tough going for the WNBA. Except now. There was a time when we said, ‘Should we sell this?’ We kept saying, ‘No, let’s hold on to it.'”
According to CNBC’s 2026 report, the Sparks are valued at $415 million, while the original Bloomberg report presents a Sportico valuation of $400 million. Notably, this year also gave the WNBA its first billion-dollar team – the Golden State Valkyries. The sale of the Sparks, if it happens, will be the largest sale in WNBA history, with the record currently held by the $300 million that Tilman Fertitta spent on the purchase of the Connecticut Sun.
But Johnson and Walter must be happy with their investment, as they bought the LA Sparks from Williams Group Holdings in 2014 for no more than $10 million – a 40-fold increase in valuation. The sale was a desperate decision, as then-majority owner Paula Madison of Williams Group Holdings had informed the league that they could no longer sustain the losses incurred since 2007.
It now seems like the situation has not gotten any better since, as Walter has also recently sold his majority stake in the LA Lakers to venture capitalist Josh Kushner and former Disney CEO Bob Iger for $12.5 billion in August. More recently, Walter also parted with his stake in the English Premier League team, Chelsea, in September.
What is shocking is that this decision comes after the LA Sparks began construction of a brand-new training facility for their players for $150 million. The two-story facility would be key in training players to improve on this season’s record of 16-28, placing them 12th on a list of 15 teams. 2026 marked the sixth consecutive season that the Sparks have missed the playoffs. Maybe a change in ownership will reverse their fate, especially after the rollercoaster journey the team has had this season.
Los Angeles Sparks roster sees blockbuster changes this season
The two top scorers for the LA Sparks for the 2026 season were Kelsey Plum (23.9 PPG over 12 games) and Nneka Ogwumike (17.3 PPG over 43 games). But as luck would have it, neither will be joining the team for the next season.
One of the major storylines for the Sparks this season has been the departure of the face of the franchise, Ogwumike. The 36-year-old WNBPA President was drafted first overall by the Sparks in 2012. She remained with the team for almost all of her career, except during the 2024-25 season when she played for the Seattle Storm.
But in a shocking revelation earlier this year, Ogwumike announced that she would be retiring from active play. She played her final game for the Sparks on September 24 against the Valkyries. She scored her 19th double-double for 2026, setting a franchise record for the LA Sparks. The team even held a postgame retirement ceremony for the Sparks legend.
But the unfortunate news did not stop there for LA.
Kelsey Plum found herself in the middle of a blockbuster trade, as she made her way to the Phoenix Mercury in exchange for Monique Akoa Makani, along with a 2027 first-round pick and a 2028 second-round pick in early August. This season, Makani has played only 11 games and has averaged 4.6 PPG.
It came as a surprise to Sparks fans, as Plum is a two-time WNBA champion and a five-time WNBA All-Star. Partnerships with players like Dearica Hamby and Cameron Brink led to the Sparks having some well-scoring games. But ultimately, Plum found herself in the purple jersey, moving to Arizona.
If Walter can sell the LA Sparks, the new owners will hope that the acquired 2027 first-round pick and a 2028 second-round pick will be the turning point for the franchise. With top draft picks and a now-veteran core, the Sparks could become a legitimate title contender in the coming seasons, looking to add a fourth trophy to their championship cabinet.