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, has confirmed that the governance of the 12-team league will remain unchanged despite recent developments involving co-founder Mark Walter and his sports holdings. Walter, a prominent Chicago billionaire with interests in various sports teams, is reportedly divesting parts of his sports empire amid ongoing U.S. federal investigations into loans between his insurance companies and businesses associated with him.
Kasten, speaking on behalf of the PWHL, stated that there are no anticipated changes in the league’s ownership. The league remains committed to its long-term vision of establishing a sustainable platform, consistent with its founding principles.
Walter, known for his ownership in sports franchises such as Major League Baseball’s Los Angeles Dodgers and the NBA’s Los Angeles Lakers, as well as other prominent teams globally, is under scrutiny by U.S. federal authorities for potential tax fraud issues. Notably, he recently agreed to a noteworthy sale of the Los Angeles Lakers to businessmen Josh Kushner and Bob Iger for a record-breaking $12.5 billion US, pending approval from the NBA’s board of governors.
Regarding any potential investigations into Walter’s activities, the Canadian Securities Administrators redirected inquiries to regional securities commissions without providing specific details.
The PWHL, which operates two subsidiaries in Canada, has seen external investment interest from entities like Toronto-based Kilmer Sports Ventures and Detroit-based Ilitch Sports and Entertainment. These investments marked a significant milestone for the league, signaling broader interest and potential growth opportunities.
Mark Walter and his wife, Kimbra Walter, established the PWHL in 2022 through their holding company, the Mark Walter Group, in collaboration with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises. The league commenced play in 2024 and has since expanded, with the Walter Cup serving as the championship trophy named in honor of the co-founders.
Recent developments have seen the PWHL announce expansion plans to include new franchises in Hamilton, Detroit, San Jose, and Las Vegas. With a total of 12 teams, the league is wholly owned by the organization, with a focus on sustained growth and fan engagement.
In a statement, Kasten expressed optimism about the league’s future and emphasized the pride of ownership in the progress made so far. Addressing speculations, Kasten also reassured stakeholders about the stability of other sports properties owned by Walter, including the Los Angeles Dodgers, emphasizing the commitment to success and continuity.
Walter’s involvement in sports acquisitions, including the Dodgers’ purchase in 2012, has been a significant part of his portfolio, with ongoing interests in various championship-winning teams.
