Adam Silver said that there were no "red flags" around Mark Walter during the process of buying the Los Angeles Lakers last year.
The NBA Commissioner discussed the stunning, historic sale Walter made for the Lakers in the wake of a federal investigation into the billionaire.
"I would say at the time that we vetted Mark Walter to be the principal governor of the team, he was already a part owner, a minority owner in the Los Angeles Lakers. We went through the full process we all do. We spoke to governmental agencies. We spoke to, you know, in the case of, Mark Walter, in a heavily regulated insurance industry. We spoke to other leagues in which he has investments and we found no red flags," Silver told reporters.
"And again, even to this day, these are, I call them, allegations."
Mark Walter flipped Lakers in a shocking, record-setting sale
Mark Walter sold the Los Angeles Lakers to Josh Kushner and Bob Iger for $12.5 billion, setting a new record for the most expensive sports franchise sale.
His decision to part ways with the Lakers left everyone stunned, as he was just the team's controlling owner for over a year after buying the franchise from the Buss family.
Many believe that Walter's decision to sell the Lakers stems from a desire to resolve the current financial and legal issues surrounding his business empire, which is currently facing a sensitive federal probe.
"I mean, there are issues that are now being looked into, but independent of Mark Walter choosing to sell his team right now, he was not being investigated by our league," Silver added. "I don't know what's happening in other leagues right now, but maybe to answer your question differently, I had no prior notion that he was intending to sell his team until I heard from the buyers that they had a handshake with him."