Mark Walter’s company says Dodgers not for sale
The Securities and Exchange Commission and the U.S. Attorney's Office for the Southern District of New York are investigating TWG, more specifically founder and CEO Mark Walter.
TWG Global has released a statement refuting reports that it is considering selling its stakes in the Los Angeles Dodgers and its Cadillac Formula 1 team. The company's comments aim to dispel concerns about potential tax fraud investigations by the Securities and Exchange Commission and the U.S. Attorney's Office for the Southern District of New York.
In the statement, TWG's CEO and founder, Mark Walter, emphasized the company's commitment to its business integrity and stated that there has been "no fraud." The report on the Dodgers sale last week, which saw Walter sell his stake in the Lakers for $12.5 billion, was cited as evidence of such speculation. However, TWG's statement mirrors the words of Dodgers president Stan Kasten, who previously assured the media that the team is not for sale.
The company also clarified that it has no intentions of exiting its stake in the Cadillac Formula 1 team or any other part of TWG Motorsports. Walter's other sports-related investments include the Los Angeles Sparks in the WNBA, the Professional Women's Hockey League, and RC Strasbourg, a French top-flight soccer team, as well as stakes in Andretti Global motorsports and English Premier League club Chelsea.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
