The Professional Women’s Hockey League (PWHL) is set to maintain its ownership structure without any plans for sale or alterations, according to Stan Kasten, a member of the PWHL’s advisory board. Despite ongoing federal investigations into loans associated with co-founder Mark Walter’s businesses, the league’s governance will remain stable.
Mark Walter, a Chicago-based billionaire with interests in various sports teams through TWG Global Holdings, is reportedly divesting parts of his sports portfolio amid scrutiny from U.S. federal prosecutors and the Securities and Exchange Commission regarding tax fraud allegations. Notably, Walter recently agreed to a significant sale of the Los Angeles Lakers for a record-breaking $12.5 billion to Josh Kushner and Bob Iger.
The PWHL, with two subsidiaries in Canada, has seen external investments from Toronto-based Kilmer Sports Ventures and Detroit-based Ilitch Sports and Entertainment. Kilmer’s investment was reported at $100 million, but neither Kilmer nor Ilitch has provided comments on the league’s ownership status.
Founded in 2022 by Mark Walter and his wife Kimbra Walter, the PWHL debuted in 2024 and expanded to 12 teams by the 2025-26 season. The league’s championship trophy, the Walter Cup, honors the couple’s contributions. Recent expansions into Hamilton, Detroit, San Jose, and Las Vegas showcase the league’s growth and ambition.
Amid speculation about the future of Walter’s sports holdings, Kasten reassured that the Los Angeles Dodgers, a key asset in Walter’s sports empire, are not up for sale. Walter spearheaded the Dodgers’ acquisition in 2012 and remains a significant stakeholder in the reigning World Series champions.
The PWHL’s progress and expansion signal a promising future, with all 12 teams under league ownership. Kasten emphasized the league’s remarkable growth and expressed pride in the accomplishments to date, underscoring a positive outlook for the PWHL’s future endeavors.