Los Angeles Dodgers Owner Mark Walter: No Sale Announced Amid Questions Over Business Deal
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Los Angeles Dodgers owner Mark Walter continues to face questions about whether he'll sell the team after he shockingly sold the Los Angeles Lakers earlier in August. With Walter the subject of a federal investigation into whether his businesses engaged in fraud, his company, TWG Global, released a statement Wednesday attempting to clear up both issues.
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CBS SportsDodgers controlling owner and chairman Mark Walter recently sold the NBA's Lakers barely a year after purchasing the franchise and amid an investigation by federal prosecutors and the Securities and Exchange Commission regarding potential loan fraud. The obvious next question is whether the Dodgers are next. TWG Global, Walter's holding company, released a statement Wednesday in defense of the owner, insisting that the Dodgers are not for sale.
ESPNWalter's TWG Global defends Dodgers' financing TWG Global, the holding company of Dodgers owner Mark Walter, issued a statement Wednesday to address what it called "substantial speculation and misinformation."
SB NationThis is the Lakers, the runners and gunners and star chasers and champions and the NBA’s crown jewel and the home of a million MVPs and the NBA’s biggest glamour market, and there are people in the world who might really saw off their own legs for a 20 percent chance at taking the reins. And this is also Mark Walter, the billionaire owner of the Dodgers who’s managed to bring a couple World Series to LA by paying just about every superstar imaginable and whose pockets previously seemed to run so deep as to appear endless, and whose organization has proven so successful that the upcoming MLB labor negotiations will in all likelihood take aim at him specifically.
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Regarding the Dodgers' future, the statement says "the team is not being sold and no sale process has been initiated."
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"TWG stands firmly behind the integrity of its business," according to the statement. "Despite what has been reported, there has been no fraud."
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TWG also addressed reports Walter is under federal investment for potential fraud stemming from his business practices.
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CBS SportsThe company also insisted that any reports that Walter and/or his companies have been involved in any sort of fraud are erroneous or even misinformation. "There is no victim here. No one has been harmed, and no one has claimed they were harmed," the statement reads. TWG is cooperating with authorities in the investigation.
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 Yahoo Sports Additionally, TWG Global said it is not looking to sell off shares in the Cadillac Formula 1 team or any part of TWG Motorsports.
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02 CBS Sports Walter is also reportedly looking to sell his stake in Premier League club Chelsea F.C., but TWG said it is "not considering exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports." His ownership of the WNBA's Los Angeles Sparks and the Professional Women's Hockey League were not mentioned specifically.
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03 SB Nation Walter was supposed to bring some of that magic to the Lakers. Gone were supposed to be the days of Ramona Shelburne exposés and palace intrigue and the dropping-and-reading-of-tealeaves that had so long defined the Lakers after family patriarch Dr. Jerry Buss passed away. They were supposed to have money again, and they were supposed to be smart, and now Walter is gone.
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