The Professional Women’s Hockey League (PWHL) has confirmed that there are no current plans to change its ownership structure or sell the league. Stan Kasten, a member of the PWHL’s advisory board, reassured that the governance of the 12-team league would remain stable despite recent developments involving co-founder Mark Walter’s sports empire.
Mark Walter, a prominent Chicago-based billionaire with investments in various sports teams, including the Los Angeles Dodgers and the Los Angeles Lakers, is reportedly divesting parts of his sports holdings due to ongoing U.S. federal investigations into loans between his insurance companies and businesses connected to him. However, Kasten emphasized that there would be no anticipated alterations to the ownership of the PWHL.
Walter recently made headlines with the sale of the NBA’s Los Angeles Lakers for a record-breaking $12.5 billion US to Josh Kushner and Bob Iger. While Walter is cooperating with the investigations, the sale of the Lakers is pending approval from the NBA’s board of governors.
In response to inquiries about potential investigations into Walter’s businesses, the Canadian Securities Administrators redirected queries to regional securities commissions, maintaining a stance of neither confirming nor denying ongoing investigations.
The PWHL, which operates with subsidiaries in Toronto and Vancouver, welcomed outside investors, Kilmer Sports Ventures and Ilitch Sports and Entertainment, in June. Notably, the league was co-founded in 2022 by Mark Walter and his wife, Kimbra Walter, under the Mark Walter Group, alongside the Professional Women’s Hockey Players Association and Billie Jean King Enterprises.
Despite recent developments, the PWHL continues to expand, with new franchises announced for Hamilton, Detroit, San Jose, and Las Vegas. All 12 teams in the league are wholly owned by the PWHL, reflecting a positive outlook for the future growth and sustainability of the league. Kasten expressed optimism about the league’s trajectory and emphasized the commitment to continued progress and success.
Regarding speculations surrounding the Los Angeles Dodgers, Kasten, who also serves as the president of the MLB team, clarified that the Dodgers are not up for sale. He affirmed the franchise’s focus on winning and dispelled any rumors suggesting otherwise.
Walter, known for his involvement in the purchase of the Dodgers in 2012, remains a significant figure in the sports industry, with a stake in various high-profile teams and ongoing commitments to sports ventures despite the recent scrutiny surrounding his businesses.