The Professional Women’s Hockey League (PWHL) has confirmed that there are no current plans to alter its ownership structure or sell the league. Despite ongoing investigations into co-founder Mark Walter’s business dealings, including loans between his insurance companies and affiliated businesses, the league’s advisory board member Stan Kasten reassured that ownership stability will be maintained.
Walter, a prominent Chicago billionaire with interests in various sports entities such as the Los Angeles Dodgers, Los Angeles Lakers, and Chelsea FC, is reportedly divesting some of his sports holdings amidst scrutiny from U.S. federal authorities regarding potential tax fraud issues. Notably, he recently agreed to sell the Los Angeles Lakers for a record-breaking $12.5 billion US to Josh Kushner and Bob Iger, pending NBA approval.
While Walter’s businesses face regulatory scrutiny, the PWHL, with subsidiaries in Toronto and Vancouver, maintains its focus on growth and sustainability. The league attracted external investors from Kilmer Sports Ventures and Ilitch Sports and Entertainment earlier this year, signaling confidence in its future prospects.
Established in 2022 by Mark and Kimbra Walter, the PWHL has rapidly expanded since its inception, introducing new franchises in Hamilton, Detroit, San Jose, and Las Vegas. The league’s commitment to women’s hockey development and fan engagement remains unwavering, with Kasten expressing optimism about the PWHL’s trajectory and the collective pride of its ownership group.
Amid speculations surrounding Walter’s sports empire, Kasten emphasized that the Los Angeles Dodgers, a key asset in Walter’s portfolio, are not up for sale. Affirming a dedication to success, Kasten reiterated the team’s focus on winning and ongoing progress, underscoring the league’s dedication to its mission and future growth.