TWG Global, the holding company of Dodgers owner Mark Walter, denied Wednesday that the team is for sale. The statement came as the company faces federal investigation into potential loan fraud, according to CBS Sports.
TWG Global characterized its statement as addressing "substantial speculation and misinformation," per ESPN. Mark Walter's group also insisted there is no "fire sale" and "no fraud," according to reporting attributed to the Financial Times on Reddit.
The denials follow news that Buss Sports Capital, founded by brothers Joey and Jesse Buss, has purchased a 5% stake in the San Diego Padres. The Buss brothers' entry into Padres ownership has drawn attention given their family's connection to Lakers ownership.