Mark Walter’s TWG Global defends Dodgers financing and Lakers sale
TWG Global — the holding company of Dodgers owner Mark Walter — rejected allegations of financial impropriety in the purchase and operation of the Dodgers and reiterated the team is not for sale.
At a time insurance regulators and federal investigators are looking into allegations that insurance companies under Walter’s umbrella did not properly disclose and conduct transactions between other companies he controls, and after Walter sold his controlling interest in the Lakers at a record $12.5 billion valuation, potential bidders have monitored whether the Dodgers might be sold as well.
In a statement Tuesday, TWG Global decried “multipronged attacks against TWG … by unnamed sources with self-serving interests” and said no insurance policyholder has been hurt as a result of the company’s financial transactions.
“There is no victim here,” the statement said. “No one has been harmed, and no one has claimed they were harmed.”
In 2012, when Walter and his partners bought the Dodgers for $2 billion, The Times reported the use of $1.2 million from Guggenheim Partners insurance funds into the deal. At the time, rival bidders expressed concern over the unusual financing, but state insurance regulators cleared the deal and Major League Baseball approved it.
“The transaction was subject to a full investigation conducted by an outside law firm on behalf of insurance regulators from multiple states,” the statement said, “which identified no irregularities and resulted in no further action.”
Even with the Dodgers issuing over a billion dollars in deferred contracts and amid whatever transactions might have been conducted between TWG-related insurance companies and the Dodgers’ affiliates — including ones that hold the team’s television rights and ticket revenues — the Dodgers’ ability to fund player contracts is not at risk, according to the statement.
“The Dodgers have the highest revenue in baseball, and it significantly exceeds the team’s obligations to its players,” the statement said.
The statement reiterated that, as Dodgers president Stan Kasten has said, “the team is not being sold and no sale process has been initiated.”
The Dodgers, if sold, could likely command a price in the range of $10 million to $13 million, industry analysts have told The Times.
The Lakers sold at a record price for a North American sports franchise, although industry analysts have said a competitive bidding process likely would have resulted in an even higher sale price.
Said the statement: “Mr. Walter was approached by Josh Kushner and his team about this transaction and the agreement represents a 25% premium to the price paid by Mr. Walter less than a year ago (and an even higher premium to the $5.0 billion valuation Mr. Walter paid in 2021) — hardly a ‘fire sale.’”
The statement added: “TWG is not looking to sell its sports assets at ‘fire sale’ prices to raise capital for its insurance operations.”
TWG said it is “working cooperatively and in partnership with the Delaware Department of Insurance” to resolve the regulatory issues and “is committed to working with the U.S. Department of Justice and the Securities and Exchange Commission to resolve their inquiries.”
“TWG stands firmly behind the integrity of its business,” the statement read. “Despite what has been reported, there has been no fraud.”
Financing Growth: The Role of Sustainable Banking in the Ethiopia-Djibouti Trade Corridor
The Ethiopia-Djibouti corridor sits at the centre of this transformation, serving as the primary gateway for Ethiopia’s import and export flows.
For financial institutions such as iibGroup, the role of banking extends well beyond liquidity provision. It is about deploying capital to support economic resilience, strengthen trade ecosystems, and deliver measurable social and environmental impact.
Embedding Sustainability at Scale
Unlike traditional ESG approaches that operate as standalone initiatives, iib East Africa integrates sustainability directly into its core financing model. As of 2025, over 80% of the bank’s loan portfolio was aligned with ESG-related financing, reflecting a deliberate shift towards impact-driven banking.
This represents a 20% increase in ESG-aligned financing since January 2025, driven by growth in renewable energy, infrastructure financing and trade finance solutions for ESG-compliant businesses. This scale of integration positions iib as the leading ESG-focused financial institution in Djibouti.
Supporting Trade Through ESG-Aligned Finance
Trade finance remains central to East Africa’s economy, yet many SMEs in essential sectors continue to face limited access to structured financing.
iib East Africa has expanded its dedicated trade finance facilities for ESG-compliant SMEs, particularly those involved in food import/export and essential goods. These facilities support regional food security, responsible supply chains and cross-border trade resilience.
By aligning trade finance with ESG principles, the bank ensures capital supports not only commercial growth, but also broader economic stability and sustainability.
H.E. Darren Welch, UK Ambassador to Ethiopia & Permanent Representative to the African Union, and Sohail Sultan, Chairman of iibGroup at the signing ceremony for the Chevening Scholarship partnership in Addis Ababa.
Mobilising Capital for High-Impact Projects
Beyond trade finance, iib is mobilising capital at scale through structured sustainable finance initiatives.
A significant development is a pipeline of approximately US$72.5 million, comprising a planned US$30 million social bond programme, a US$25 million Green Bond, and a US$17.5 million Blue Carbon programme.
The social bond programme is designed to finance high-impact projects including affordable housing, regional food security, essential infrastructure for telecommunications, education and healthcare, and capital for ESG-aligned SMEs.
The Green Bond will improve the energy efficiency of industrial and logistics SMEs.
Meanwhile, the Blue Carbon programme will restore 1,675 hectares of mangroves, preserve a further 780 hectares, establish a 400-hectare protective green barrier and target the sequestration of 2 million tonnes of CO₂. And with a projected investment of US$17.5 million and an expected IRR exceeding 20%, it demonstrates how sustainable finance can generate both commercial returns and measurable environmental outcomes.
Expanding into Ethiopia
By establishing a Representative Office in Addis Ababa, iibGroup has taken an important step in extending this model into one of Africa’s largest and most promising markets.
This expansion supports iib’s strategy of operating as a regional financial intermediary, facilitating cross-border trade, investment and capital flows between East Africa and international markets.
Backed by a robust correspondent banking network of more than 30 relationships across Ethiopia and the wider region, the bank provides trade finance, structured trade, cross-border payments, foreign exchange settlement, liquidity management and risk participation solutions.
Through its presence in Djibouti and Ethiopia, iib is positioned to connect local businesses with international capital while supporting trade, infrastructure and private-sector growth across the corridor, reinforcing its role as a regional connector.
Driving Social Impact Beyond Financing
In frontier markets, sustainable finance extends beyond balance sheet activity. iib East Africa complements its financing activities with direct community engagement that promote inclusive growth.
In 2025, this included:
- Food distribution initiatives targeting vulnerable communities.
- Literacy programmes and education support.
- Environmental campaigns including beach clean-ups and tree planting.
- Health awareness initiatives, including breast cancer awareness programmes.
Additionally, the bank is financing a housing project in partnership with Qatar Charity, involving the construction of 79 houses, plus a mosque and Islamic academic centre, representing a total investment of approximately US$500,000.
These initiatives reinforce the principle that sustainable finance should create both institutional and community impact.
A Model for Sustainable Banking in Frontier Markets
As East Africa’s financial systems continue to evolve, banks are becoming active enablers of economic development rather than just financial intermediaries.
iibGroup’s approach – anchored in ESG integration, trade facilitation and capital mobilisation – demonstrates how sustainable banking can be implemented effectively in frontier markets. By aligning financial performance with measurable impact, the bank is contributing to the development of a more resilient, inclusive and interconnected regional economy. Along the Ethiopia–Djibouti corridor, this model is not only relevant; it is essential.
