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, assured that the governance of the 12-team league would remain unchanged despite recent developments involving co-founder Mark Walter’s sports holdings. Walter, a Chicago billionaire with interests in various sports teams, including the Los Angeles Dodgers and the Los Angeles Lakers, is reportedly divesting parts of his sports empire amid ongoing investigations into loans between his insurance firms and businesses linked to him.
Kasten emphasized that there are no anticipated alterations in the ownership of the PWHL, affirming the league’s commitment to its long-term vision and sustainability. Walter, who is cooperating with the investigations, recently agreed to sell the NBA’s Los Angeles Lakers to Josh Kushner and Bob Iger for a record $12.5 billion USD. This sale, however, is still pending approval from the NBA’s board of governors.
Regarding the scrutiny of Walter’s businesses by U.S. federal prosecutors and the U.S. Securities and Exchange Commission for potential tax fraud, Canadian authorities did not confirm any parallel investigations. The PWHL, with subsidiaries in Toronto and Vancouver, saw Toronto-based Kilmer Sports Ventures and Detroit-based Ilitch Sports and Entertainment become its first external investors earlier this year.
The league, co-founded by Walter and his wife Kimbra in 2022, continues to expand, with plans to introduce new franchises in Hamilton, Detroit, San Jose, and Las Vegas. Kasten expressed enthusiasm for the league’s growth and future prospects, highlighting the remarkable progress made in just three seasons. Amid speculations about the Los Angeles Dodgers’ ownership, Kasten clarified that the baseball franchise is not for sale, emphasizing their dedication to success on the field.
The PWHL remains optimistic about its future, with all 12 teams under league ownership. Walter’s involvement in various sports ventures, including the Dodgers, has been a significant part of his business portfolio, with his role in Guggenheim Baseball Management’s acquisition of the Dodgers in 2012 being a notable milestone.