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, has confirmed that the governance of the 12-team league will remain unchanged. This comes as co-founder Mark Walter has been divesting parts of his sports portfolio due to ongoing U.S. federal inquiries into loans between his insurance enterprises and businesses associated with him.
Kasten emphasized that there are no anticipated alterations to the ownership of the PWHL and that the league will persist with its long-term vision and dedication to establishing a sustainable organization as initially envisioned.
Mark Walter, a prominent billionaire based in Chicago, holds interests in various professional sports franchises through TWG Global Holdings. His sports holdings include the Los Angeles Dodgers in Major League Baseball, the Los Angeles Lakers in the NBA, the Los Angeles Sparks in the WNBA, Chelsea in the English Premier League, and the Formula One team Cadillac F1.
Recent reports have indicated that Walter’s businesses are under investigation by U.S. federal prosecutors and the Securities and Exchange Commission for potential tax fraud. Despite these developments, Walter has agreed to a significant deal to sell the Los Angeles Lakers to Josh Kushner and Bob Iger for a record price of $12.5 billion US, pending approval by the NBA’s board of governors.
When questioned about investigations into Walter, the Canadian Securities Administrators directed inquiries to regional securities commissions. The PWHL operates subsidiaries in Toronto and Vancouver, with regulatory bodies like the Ontario Securities Commission and British Columbia Securities Commission refraining from confirming or denying ongoing investigations into Walter’s activities.
The PWHL recently welcomed outside investors for the first time, with Kilmer Sports Ventures and Ilitch Sports and Entertainment making substantial investments in the league. The league was co-founded in 2022 by Mark Walter and his wife Kimbra Walter, operating under the Mark Walter Group. The PWHL’s inaugural season was in 2024, expanding to 12 teams by the 2025-26 season.
Amidst the league’s growth, including new franchises in Hamilton, Detroit, San Jose, and Las Vegas, Kasten expressed enthusiasm for the league’s progression and the fan experience. He reassured the public regarding speculations about the future of the Los Angeles Dodgers, emphasizing that the team is not up for sale and the primary focus is on achieving success on the field.
Walter’s involvement with the Dodgers dates back to Guggenheim Baseball Management’s acquisition of the team for $2.15 billion in 2012. The deal, which involved financing from Guggenheim-associated insurance firms, solidified Walter’s ownership of 27% of the reigning World Series champions.