There are no current intentions to sell or alter the ownership structure of the Professional Women’s Hockey League (PWHL). Stan Kasten, a member of the PWHL’s advisory board, affirmed that the league’s governance, consisting of 12 teams, will remain unchanged. This assurance comes amidst reports of co-founder Mark Walter divesting assets from his sports portfolio due to U.S. federal investigations into loans between his insurance companies and associated businesses.
Kasten emphasized, “There is no anticipated shift in PWHL ownership. Our focus remains on fostering a sustainable league with a long-term perspective, consistent with our initial vision.”
Walter, a prominent figure in Chicago’s billionaire community, 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 media coverage highlighted federal probes into Walter’s businesses for potential tax fraud, with his cooperation noted. Notably, Walter agreed to a significant deal to sell the Los Angeles Lakers for a record $12.5 billion USD to Josh Kushner and Bob Iger, pending approval by the NBA’s board of governors.
In response to queries about potential investigations into Walter, the Canadian Securities Administrators redirected inquiries to regional securities commissions. The PWHL, with subsidiaries in Toronto and Vancouver, has attracted outside investments, with Kilmer Sports Ventures and Ilitch Sports and Entertainment being the first external backers.
Walter, along with his wife Kimbra, founded the PWHL in 2022, marking a partnership with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises. The league, which commenced play in 2024, has expanded to include 12 teams, with the Walter Cup serving as the championship trophy.
The league’s recent growth includes new franchises in Hamilton, Detroit, San Jose, and Las Vegas. Kasten expressed optimism about the league’s future and its rapid development, highlighting the pride of the ownership group in the league’s progress.
Additionally, Kasten clarified uncertainties surrounding the Los Angeles Dodgers, emphasizing that the team is not up for sale and reaffirming their commitment to success. Walter’s involvement in the Dodgers dates back to Guggenheim Baseball Management’s acquisition in 2012, where he holds a significant ownership stake in the reigning World Series champions.