The Professional Women’s Hockey League (PWHL) has affirmed 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, despite co-founder Mark Walter divesting parts of his sports holdings due to ongoing U.S. federal inquiries into loans between his insurance enterprises and affiliated businesses.
Kasten, speaking on behalf of PWHL, emphasized that there are no anticipated changes in ownership and reiterated the league’s commitment to sustaining its long-term vision from its inception. Walter, a prominent Chicago-based billionaire with interests in various professional sports teams, including the Los Angeles Dodgers, Los Angeles Lakers, and Chelsea FC, is currently under scrutiny by federal prosecutors and the U.S. Securities and Exchange Commission regarding alleged tax fraud activities, to which he is cooperating.
Recently, Walter reportedly agreed to a significant sale of the Los Angeles Lakers to Josh Kushner and Bob Iger for a record-breaking $12.5 billion US. This transaction, subject to NBA board approval, follows Walter’s past acquisitions in the sports industry. Canadian authorities have not disclosed any investigations into Walter’s activities, as per the Canadian Securities Administrators’ response redirecting inquiries to regional commissions.
The PWHL, with subsidiaries in Toronto and Vancouver, welcomed external investments from Kilmer Sports Ventures and Ilitch Sports and Entertainment in June, marking the first outside investors in the league. The league’s co-founders, Mark and Kimbra Walter, established the PWHL in 2022 through the Mark Walter Group, collaborating with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises to create a women’s hockey league.
The PWHL, which introduced expansion plans to Hamilton, Detroit, San Jose, and Las Vegas, continues to flourish, boasting a total of 12 wholly-owned teams. Kasten expressed optimism about the league’s growth and achievements, assuring stakeholders of a bright future. Amid speculations about the Los Angeles Dodgers’ ownership, Kasten clarified that there are no plans to sell the team and emphasized their commitment to success.
Walter’s notable acquisition of the Dodgers in 2012 for $2.15 billion, partially funded by Guggenheim-linked insurance funds, solidified his sports portfolio, with a 27% ownership stake in the reigning World Series champions.