The Professional Women’s Hockey League (PWHL) has confirmed that there are no intentions to sell the league or alter its ownership structure. Stan Kasten, a member of the PWHL’s advisory board, stated that the governance of the 12-team league will remain unchanged despite recent developments involving co-founder Mark Walter, who is reportedly divesting assets from his sports portfolio amidst federal investigations related to loans between his insurance firms and businesses linked to Walter.
Kasten emphasized that there is no anticipated shift in ownership within the PWHL, emphasizing the league’s commitment to its long-term vision and the sustainability it aims to establish since its inception. Walter, a prominent Chicago-based billionaire, holds interests in various sports franchises through TWG Global Holdings, including the Los Angeles Dodgers, Los Angeles Lakers, Los Angeles Sparks, Chelsea FC, and Cadillac F1 team.
Recent reports highlighted federal scrutiny on Walter’s business entities regarding potential tax fraud issues, with his cooperation in these investigations noted. The sale of the Los Angeles Lakers to Josh Kushner and Bob Iger for a record-breaking $12.5 billion US, subject to NBA approval, has been a significant development linked to Walter’s sports holdings.
While Canadian securities regulators declined to comment on any investigations related to Walter, the PWHL, with subsidiaries in Toronto and Vancouver, has attracted outside investment interest from Kilmer Sports Ventures and Ilitch Sports and Entertainment. These investments were made in June, with Kilmer reportedly investing $100 million in the league.
Mark Walter and his wife Kimbra founded the PWHL in 2022 through the Mark Walter Group, establishing a partnership with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises to create a six-team women’s hockey league. The league has since expanded, adding teams in Hamilton, Detroit, San Jose, and Las Vegas, in addition to existing Canadian franchises.
Kasten expressed optimism about the PWHL’s growth and the league’s future, emphasizing the pride of ownership in the progress made and the vision ahead. As part of the league’s expansion and development, Kasten also addressed speculation surrounding the Los Angeles Dodgers, confirming that the baseball franchise is not up for sale and reiterating their focus on success on the field.
Walter’s significant role in the acquisition of the Dodgers in 2012, alongside Guggenheim Baseball Management, further underscores his standing in the sports industry, with a substantial ownership stake in the reigning World Series champions.