The Professional Women’s Hockey League (PWHL) is set to maintain its current ownership structure without any intentions of being sold or undergoing changes in ownership. Stan Kasten, a member of the PWHL’s advisory board, confirmed this stability amidst co-founder Mark Walter’s divestment activities within his sports portfolio due to ongoing U.S. federal investigations related to loans between his insurance companies and businesses associated with Walter.
Kasten emphasized that there are no anticipated alterations to the ownership of the PWHL and that the league remains committed to its long-term vision of establishing a sustainable and enduring league. Walter, a prominent Chicago billionaire, holds ownership interests in various professional sports teams through TWG Global Holdings, including the Los Angeles Dodgers, Los Angeles Lakers, Los Angeles Sparks, Chelsea FC, and the Cadillac F1 team.
Recent reports have highlighted federal scrutiny on Walter’s businesses for potential tax fraud, leading to the notable sale of the NBA’s Los Angeles Lakers to Josh Kushner and Bob Iger for a record-breaking $12.5 billion US. Despite this, the ownership status of the PWHL remains unaffected by these developments.
The PWHL, with subsidiaries in Toronto and Vancouver, attracted outside investment from Kilmer Sports Ventures and Ilitch Sports and Entertainment, marking the league’s first external investors. The league, co-founded in 2022 by Mark Walter and his wife Kimbra Walter, has seen significant growth since its inception, expanding to new markets including Hamilton, Detroit, San Jose, and Las Vegas.
Kasten expressed optimism about the league’s future, noting the rapid expansion to 12 teams within three seasons and highlighting the league’s commitment to progress and success. While Walter’s sports holdings have come under regulatory scrutiny, the PWHL remains focused on its growth and development as a premier women’s hockey league.
Kasten’s reassurances extend to the Los Angeles Dodgers, emphasizing that the team is not up for sale and reaffirming the commitment to achieving success on the field. Walter’s involvement in the Dodgers dates back to Guggenheim Baseball Management’s acquisition of the team in 2012, solidifying his position within the sports industry.
