Mark Walter Could Save $425M In Taxes If Lakers' Sale Closes In November

Mark Walter stands to save approximately $425 million in taxes depending on when the NBA's board of governors votes to approve his sale of the Los Angeles Lakers, according to tax calculations from CPA Robert Raiola. The savings hinge on whether the sale closes before or after the one-year anniversary of Walter becoming controlling owner, which occurred at the end of October last year following league approval. Walter agreed to sell the Lakers to Joshua Kushner and Bob Iger for a reported $12.5...