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 league, consisting of 12 teams, will maintain its governance stability despite recent developments involving co-founder Mark Walter and his sports business ventures. Kasten emphasized that there are no anticipated alterations to the ownership of the PWHL and reaffirmed the league’s commitment to its long-term sustainability goals.
Mark Walter, a prominent Chicago-based billionaire, holds ownership interests in various professional sports franchises under TWG Global Holdings, including the Los Angeles Dodgers, Los Angeles Lakers, Los Angeles Sparks, Chelsea FC, and Cadillac F1 team. Recent reports have highlighted federal investigations into loans between Walter’s insurance companies and businesses associated with him, leading to increased scrutiny on his financial dealings.
Notably, Walter recently reached an agreement to sell the NBA’s Los Angeles Lakers to Josh Kushner and Bob Iger for a record-breaking sum of $12.5 billion US. This transaction is pending approval by the NBA’s board of governors. While Walter’s businesses are under investigation by U.S. federal authorities and the Securities and Exchange Commission for potential tax fraud, he is cooperating with the relevant inquiries.
Regarding the PWHL, the league has subsidiaries in Toronto and Vancouver, operating independently in Canada. External investors, Kilmer Sports Ventures and Ilitch Sports and Entertainment, became involved with the PWHL in June, with Kilmer reportedly investing $100 million. The league’s ownership situation and governance details remain undisclosed by Kilmer and Ilitch representatives.
Mark Walter and his wife, Kimbra Walter, established the PWHL in 2022 through the Mark Walter Group, entering into a partnership with the Professional Women’s Hockey Players Association and Billie Jean King Enterprises to form a women’s hockey league initially comprising six teams. The league has since expanded, introducing new franchises in Hamilton, Detroit, San Jose, and Las Vegas, alongside existing Canadian teams.
As the PWHL evolves and grows, Kasten expressed optimism about the league’s future and acknowledged the significant progress made within just three seasons. The league’s expansion and continued development reflect a positive trajectory, with all 12 teams currently owned by the PWHL itself. Kasten also addressed speculation surrounding the Los Angeles Dodgers, emphasizing that the team is not up for sale and reiterating their focus on achieving sporting success under Walter’s leadership, which began with the purchase of the franchise in 2012.