Los Angeles – The holding company behind Dodgers owner Mark Walter, TWG Global, released a detailed statement on Wednesday refuting recent speculation that the World Series‑winning franchise is up for sale. The company also defended the recent sale of a controlling stake in the Los Angeles Lakers, describing the transaction as a 25% premium over the price Walter paid less than a year ago.
Dodgers remain unsold
TWG Global said that while the Dodgers regularly attract interest from prospective buyers, “the team is not being sold and no sale process has been initiated.” Dodgers president Stan Kasten echoed the sentiment, telling reporters before a game against Pittsburgh, “The Dodgers are not being sold. They’re not for sale. There’s no process that has been started to sell it, period. We are planning only to win.”
Lakers deal clarified
The statement noted that Walter was approached by Joshua Kushner and his investment team about the Lakers transaction, which represents a 25% premium to the price Walter paid less than a year ago and an even higher premium to the $5.0 billion valuation he paid in 2021. TWG Global stressed that the deal was far from a “fire sale.” The Lakers sale still requires approval from the NBA’s board of governors, with a meeting scheduled in New York next month.
Ongoing investigations
Walter, who also serves as CEO of Guggenheim Partners, is cooperating with investigations by the U.S. Attorney’s Office in Manhattan and the Securities and Exchange Commission concerning potential insurance‑fraud matters. TWG Global described these probes as “multipronged attacks” and said the company has not been looking to liquidate its sports assets at discounted prices to fund insurance operations.
Past transactions and performance
Walter and his partners purchased the Dodgers in 2012 for $2.15 billion. Since then, the club has captured three World Series titles and boasts the highest revenue in baseball, comfortably covering player payroll obligations. The Lakers transaction, valued at $12.5 billion, is among the largest deals in NBA history, surpassing previous record sales such as the Boston Celtics’ $6 billion valuation.
Walter’s other sports holdings include the LA Sparks, the Professional Women’s Hockey League, and TWG Motorsports.
Original reporting: NBC4 Los Angeles — read the source article.
