The Los Angeles Dodgers and Cadillac F1 team are not being sold, according to a Wednesday morning statement from TWG Global, the holding company for Mark Walter’s sports assets.
Speculation has swirled since Walter has come under fire for not disclosing related-party transactions within insurance companies he controls, spurring a pair of federal investigations.
Walter’s decision this month to sell the Los Angeles Lakers to Joshua Kushner and Bob Iger for $12.5 billion less than a year after he bought the team has spurred conversation on which TWG sports assets would be sold next to shore up the balance sheets of Walter’s insurance companies.
“Over the past several weeks, multipronged attacks against TWG have been advanced by unnamed sources with self-serving interests that have been reported in the media,” TWG’s statement said. “It is important to set the record straight. TWG stands firmly behind the integrity of its business and remains focused on continuing to deliver value to its stakeholders.”
TWG did not address Premier League club Chelsea, which Walter owns a roughly 13% stake in and is reportedly on the market. His other sports holdings include the WNBA’s Los Angeles Sparks, Andretti Global in IndyCar, Spire Motorsports in NASCAR and the PWHL.
