Mark Walter is reportedly facing a federal investigation over loans worth $20 billion, and Bill Simmons thinks there could be dire consequences for the billionaire.
As reports continue to come out about Mark Walter’s continued sales of his various sports assets, the story is growing murkier. It all began with the Los Angeles Lakers being sold for $12.5 billion.
There have been rumours that Walter is also moving to sell his stake in soccer club Chelsea FC. In addition to this, speculation has begun that even the LA Dodgers might need to be sold.
With a reported debt figure of around $20 billion, the story adds up so far. But prominent NBA analyst Bill Simmons thinks it might not have a happy ending for Walter.
Photo by Keith Birmingham/MediaNews Group/Pasadena Star-News via Getty ImagesBill Simmons speculates Mark Walter ‘might actually go to jail’Simmons is known for his sharp words when it comes to his sports commentary. And in discussing the situation Walter finds himself in, he compared him to Bernie Madoff, one of history’s biggest fraudsters.
It’s hard to say what the truth is as there is an ongoing investigation into Walter’s various businesses. However, Simmons thinks that a prison sentence could be possible.
“It’s starting to seem like he might actually go to jail,” Simmons said on his podcast. “He’s already shed himself of the Lakers. He’s reportedly selling his 12.5% stake in Chelsea right now, and my guess is the Dodgers are going to be next.
“So what is this? Are we moving toward a Bernie Madoff or Ivan Boesky type situation? Will the words, ‘Mark Walter today pled guilty…’ be said in the next two years?”
In situations like these, it is of paramount importance to wait for all the facts to come out. However, it’s hard to dispute that Walter’s situation does seem to be quite difficult.
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