Why Mark Walter’s financial crisis will not halt squash’s LA28 plans

As the American faces a $21 billion federal probe, his stakes in Chelsea and the LA Dodgers look vulnerable - but ring-fenced funding means his major Olympic sports investments appear safe

Mark Walter has managed to keep a remarkably low profile for a billionaire entrepreneur who owns some of the most famous sports teams in the world.

That was until last week, when the American caught everyone off guard by selling his majority stake in the NBA’s most famous and popular team, Los Angeles Lakers, for $12.5 billion to a partnership team led by Josh Kushner, founder of the venture capital firm Thrive Capital, and former Walt Disney chief executive Bob Iger.

It is just one of several top franchises that Walter owns or has a significant interest in and speculation is now rampant as to which one he will have to offload next.