“The allegation that the Los Angeles Dodgers were acquired or have been funded improperly is false and not supported by the facts,” TWG Global said in a statement.

The empire of billionaire Los Angeles Dodgers owner Mark Walter has faced media scrutiny since he said he would sell his majority share of the LA Lakers.

The holding company also denied plans to sell sports assets at distressed prices, saying the Lakers sale represented a 25% premium to what Mark Walter paid