TWG Global denies wrongdoing in Dodgers financing and says team not for sale

TWG Global, the holding company of Los Angeles Dodgers owner Mark Walter, issued a statement on Tuesday rejecting allegations of financial impropriety related to the team's purchase and ongoing operations. The company said no insurance policyholders have been harmed and that there is no victim in the matter.

The statement described recent scrutiny as “multipronged attacks … by unnamed sources with self-serving interests.” It noted that the 2012 acquisition of the Dodgers, which involved $1.2 million from Guggenheim Partners insurance funds, was examined by an outside law firm on behalf of state insurance regulators and found no irregularities.

TWG Global added that the Dodgers’ revenue exceeds its player-pay obligations and that the franchise’s ability to fund contracts is not at risk. Dodgers president Stan Kasten was quoted as saying the team is not for sale and no sale process has begun.

The company also addressed broader regulatory inquiries, saying it is cooperating with the Delaware Department of Insurance, the U.S. Department of Justice and the Securities and Exchange Commission. It affirmed the integrity of its business and denied any fraud.

Analysts have estimated that a potential Dodgers sale could fetch $10 billion to $13 billion, while the Los Angeles Lakers were sold earlier this year for a record $12.5 billion.