Lakers' Shock Sale and the Shadowy Cloud Behind It

Mark Walter flipped the Los Angeles Lakers for a record $12.5 billion after owning the team for less than a year — and the NBA is collectively asking, “What’s the catch?” Walter’s 10‑month tenure ended Wednesday with a deal that reportedly came together in 72 hours, sending the franchise to Josh Kushner and Bob Iger. The speed and profit ($2.5 billion) have raised eyebrows, especially with Walter facing a federal investigation tied to his financial...