There are currently no intentions to alter the ownership structure or sell the Professional Women’s Hockey League (PWHL) in any manner. Stan Kasten, a member of the PWHL’s advisory board, affirmed that the governance of the 12-team league will remain unchanged, despite co-founder Mark Walter divesting portions of his sports holdings amid federal investigations into loans involving his insurance firms and businesses linked to him.
Kasten assured in a statement released by the PWHL that there are no anticipated shifts in PWHL ownership, emphasizing the league’s continual dedication to establishing a sustainable and enduring organization as initially envisioned.
Mark Walter, a wealthy individual based in Chicago, holds interests in various professional sports franchises through TWG Global Holdings, including the Los Angeles Dodgers, Los Angeles Lakers, Los Angeles Sparks, Chelsea FC, and the Cadillac F1 team. Recent reports suggest that Walter’s enterprises are under investigation by U.S. federal prosecutors and the Securities and Exchange Commission for potential tax fraud. Walter is said to be cooperating with the investigations.
In a significant development, Walter agreed to a landmark deal to sell the Los Angeles Lakers to Josh Kushner and Bob Iger for a record-breaking $12.5 billion USD. The deal, executed on August 12, awaits approval from the NBA’s board of governors. Similarly, Walter’s other business activities are under scrutiny, but the Canadian Securities Administrators redirected inquiries to regional securities commissions when questioned about potential investigations involving Walter.
The PWHL, which operates two subsidiaries in Canada – one in Toronto and the other in Vancouver, attracted outside investments from Kilmer Sports Ventures and Ilitch Sports and Entertainment in June. Kilmer’s investment was reported at $100 million, but both companies declined to comment on the current ownership status of the league.
Mark Walter and his wife Kimbra Walter co-founded the PWHL in 2022, establishing a six-team women’s hockey league in partnership with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises. The league’s inaugural season took place in 2024, with subsequent expansions leading to a 12-team era, including new franchises in Hamilton, Detroit, San Jose, and Las Vegas.
As the PWHL progresses into its next phase, Kasten, also the president of the Los Angeles Dodgers, expressed optimism and pride in the league’s growth. He reassured stakeholders that the Los Angeles Dodgers are not up for sale, dispelling rumors and emphasizing their commitment to success. Walter’s involvement in sports ownership, including the Dodgers, stems from the $2.15 billion acquisition in 2012, partially financed by Guggenheim-linked insurance funds, granting him a 27% stake in the reigning World Series champions.