The Professional Women’s Hockey League (PWHL) has confirmed that there are no intentions to sell the league or alter its ownership structure. Despite ongoing scrutiny of co-founder Mark Walter’s business dealings, PWHL’s advisory board member Stan Kasten assured that the league’s governance would remain stable. Walter, a prominent Chicago billionaire with interests in various sports entities, is reportedly divesting parts of his sports portfolio amidst investigations into his insurance companies’ loans and connections to his businesses.
Kasten emphasized that there are no anticipated changes to the ownership of PWHL and reiterated the commitment to sustaining the league’s long-term vision. Walter, known for his ownership of sports teams such as the Los Angeles Dodgers and Los Angeles Lakers, recently agreed to sell the Lakers franchise for a record-breaking sum. While Walter is cooperating with the investigations into his businesses, the sale of the Lakers is pending approval by the NBA’s board of governors.
Regarding potential investigations into Walter’s activities, the Canadian Securities Administrators redirected inquiries to regional securities commissions without confirming any ongoing probes. The PWHL, with subsidiaries in Toronto and Vancouver, welcomed outside investors earlier this year, signaling growth and expansion within the league. Kilmer Sports Ventures and Ilitch Sports and Entertainment were among the first external investors, with Kilmer reportedly investing $100 million in the league.
The PWHL, co-founded by Walter and his wife in 2022, has seen significant growth since its inception, expanding its team roster and geographical reach. The league’s championship trophy, the Walter Cup, symbolizes the founders’ commitment to women’s hockey. As the PWHL continues to evolve and add new franchises, Kasten expressed enthusiasm for the league’s future and highlighted the collective pride of the ownership group in the league’s progress.
In a bid to dispel rumors about the Los Angeles Dodgers’ potential sale, Kasten affirmed that the baseball franchise was not on the market and reiterated the focus on winning. Walter’s involvement in the Dodgers dates back to the team’s acquisition in 2012, further solidifying his presence in the sports industry. The league’s growth and stability reflect a promising outlook for the PWHL and its stakeholders.