The Professional Women’s Hockey League (PWHL) will maintain its current ownership structure without any plans for sale or changes. Stan Kasten, a member of the PWHL’s advisory board, affirmed this stability despite co-founder Mark Walter divesting parts of his sports portfolio amid U.S. federal investigations related to loans between his insurance firms and businesses tied to him. Kasten assured that the league’s ownership remains unchanged with a focus on long-term sustainability.
Mark Walter, a wealthy individual based in Chicago, holds interests in various sports teams worldwide through TWG Global Holdings, including the Los Angeles Dodgers, Los Angeles Lakers, Los Angeles Sparks, Chelsea FC, and Cadillac F1. Recent reports indicated federal scrutiny on Walter’s enterprises for potential tax irregularities, to which Walter is cooperating.
In a significant development, Walter agreed to sell the Los Angeles Lakers to Josh Kushner and Bob Iger for a record $12.5 billion US, pending NBA board approval. Questions about potential investigations on Walter were redirected by the Canadian Securities Administrators to regional commissions.
The PWHL, with subsidiaries in Toronto and Vancouver, welcomed Kilmer Sports Ventures and Ilitch Sports and Entertainment as its inaugural external investors, with Kilmer reportedly investing $100 million. The league, co-founded by Mark and Kimbra Walter in 2022, has seen growth with expansion plans and a focus on women’s hockey development.
Kasten expressed enthusiasm for the PWHL’s future, noting the league’s rapid growth to 12 teams in just three seasons. He emphasized the league’s commitment to progress and the pride in its achievements. Regarding speculations about the Los Angeles Dodgers’ potential sale, Kasten clarified that the team is not on the market and remains focused on winning, underlining Walter’s pivotal role in the team’s ownership since 2012.