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, assured that the governance of the 12-team league would remain unchanged, even as co-founder Mark Walter is divesting assets from his sports portfolio amid ongoing federal investigations into loans made by his insurance companies to businesses associated with Walter.
Kasten stated on behalf of the PWHL that there are no anticipated shifts in ownership and that the league will continue to operate with a focus on long-term sustainability and growth.
Mark Walter, a wealthy figure 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 Cadillac F1 team. Recent reports indicate that Walter’s businesses are under scrutiny by U.S. federal prosecutors and the Securities and Exchange Commission for potential tax fraud. Walter is cooperating with these investigations.
In a significant development, Walter has agreed to sell the NBA’s Los Angeles Lakers to Josh Kushner and Bob Iger for a historic $12.5 billion US, pending approval by the NBA’s board of governors. When queried about potential investigations involving Walter, the Canadian Securities Administrators redirected inquiries to regional securities commissions.
The PWHL, with subsidiaries in Toronto and Vancouver, welcomed Kilmer Sports Ventures and Ilitch Sports and Entertainment as its first external investors in June. The league’s co-founders, Mark Walter and his wife Kimbra, established PWHL in 2022 through the Mark Walter Group, forming a partnership with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises to launch a women’s hockey league.
The PWHL has been expanding, with new franchises planned for Hamilton, Detroit, San Jose, and Las Vegas. The league’s growth has been well-received, and Kasten expressed optimism about the future of the PWHL and its 12-team setup.
Kasten also addressed speculation surrounding the Los Angeles Dodgers, emphasizing that there are no plans to sell the baseball franchise, which remains focused on achieving success. Walter, who orchestrated the acquisition of the Dodgers in 2012, continues to hold a significant stake in the team, contributing to their recent World Series victory.