There are no current intentions to change the ownership structure or sell the Professional Women’s Hockey League (PWHL). Stan Kasten, a member of the PWHL’s advisory board, reassured that the governance of the 12-team league will remain steady despite recent developments involving co-founder Mark Walter and his sports empire. Walter, a billionaire based in Chicago, has been divesting parts of his sports holdings amid U.S. federal investigations related to loans between his insurance firms and businesses associated with him.
Kasten emphasized that there are no anticipated alterations to the ownership of the PWHL, affirming the league’s commitment to its long-term vision and sustainability goals since its inception. Walter’s diverse sports portfolio includes ownership stakes in prominent teams such as Major League Baseball’s Los Angeles Dodgers, the NBA’s Los Angeles Lakers, the WNBA’s Los Angeles Sparks, Chelsea FC, and the Cadillac F1 team.
Recent reports indicated that Walter’s business dealings are under scrutiny by U.S. federal prosecutors and the Securities and Exchange Commission for potential tax fraud. Despite this, Walter recently agreed to a significant deal to sell the NBA’s Los Angeles Lakers to Josh Kushner and Bob Iger for a record-breaking sum of $12.5 billion. However, the sale is pending approval from the NBA’s board of governors.
Regarding potential investigations, the Canadian Securities Administrators referred inquiries about Walter to regional securities commissions. The PWHL, which has subsidiaries in Toronto and Vancouver, welcomed external investments from Kilmer Sports Ventures and Ilitch Sports and Entertainment in June, marking the league’s first outside investments.
Walter, alongside his wife Kimbra Walter, founded the PWHL in 2022 through the Mark Walter Group, entering into a partnership with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises to establish a six-team women’s hockey league. The league has since expanded to 12 teams and introduced franchises in Hamilton, Detroit, San Jose, and Las Vegas.
Kasten expressed excitement about the league’s growth and future prospects, highlighting the pride of the ownership group in the league’s achievements. He also clarified that the Los Angeles Dodgers, another key asset in Walter’s sports holdings, are not up for sale despite speculation, reaffirming the team’s commitment to success.
Walter’s significant purchase of the Dodgers in 2012 for $2.15 billion through Guggenheim Baseball Management remains a notable milestone in his sports investments, with a 27% ownership stake in the reigning World Series champions.
