The Professional Women’s Hockey League (PWHL) will not be sold or undergo any changes in ownership structure, according to Stan Kasten, a member of the PWHL’s advisory board. Despite reports of co-founder Mark Walter divesting parts of his sports portfolio due to federal investigations related to loans between his insurance companies and businesses associated with him, Kasten assured that the governance of the 12-team league will remain stable. Kasten emphasized the league’s unwavering commitment to its long-term vision of establishing a sustainable sports organization.
Mark Walter, a prominent Chicago billionaire, holds interests in various professional sports teams under TWG Global Holdings, including the Los Angeles Dodgers, Los Angeles Lakers, Los Angeles Sparks, Chelsea FC, and Cadillac F1. Recent media coverage highlighted federal probes into Walter’s businesses for potential tax fraud issues. Notably, Walter recently agreed to a landmark sale of the Los Angeles Lakers to businessmen Josh Kushner and Bob Iger for a record-breaking $12.5 billion US, pending approval by the NBA’s board of governors.
The PWHL, with subsidiaries in Toronto and Vancouver, attracted outside investment from Kilmer Sports Ventures and Ilitch Sports and Entertainment in June. The league, co-founded in 2022 by Mark Walter and his wife Kimbra Walter, has experienced growth since its inception, with plans to expand to Hamilton, Detroit, San Jose, and Las Vegas. Kasten expressed excitement about the league’s expansion and future prospects, emphasizing the collective pride of the ownership group in the PWHL’s achievements and future goals.
Regarding the Los Angeles Dodgers, another key asset in Walter’s sports portfolio, Kasten clarified that there are no plans to sell the franchise and reaffirmed the organization’s commitment to success. Walter spearheaded the acquisition of the Dodgers in 2012 through Guggenheim Baseball Management, solidifying his ownership stake in the reigning World Series champions.
The PWHL continues to focus on its growth trajectory and fan engagement, with a strong emphasis on building a sustainable and successful women’s hockey league for the long term.