There are no plans to sell the Professional Women's Hockey League or change its ownership structure in any way.
Stan Kasten, a member of the PWHL's advisory board, confirmed the governance of the 12-team league would remain stable even as co-founder Mark Walter appears to be selling off pieces of his sports empire amid U.S. federal investigations into loans between his insurance companies and businesses with ties to Walter.
"There's absolutely no expected change to ownership of the PWHL," said Kasten in a statement provided by the PWHL on Monday. "We continue to operate with the same long-term outlook and commitment to building a sustainable league that we had when we launched."
Walter, a Chicago-based billionaire, owns stakes in several professional sports teams through the multinational conglomerate TWG Global Holdings. His sports empire includes Major League Baseball's Los Angeles Dodgers, National Basketball Association's Los Angeles Lakers, WNBA's Los Angeles Sparks, Chelsea of the English Premier League, and the Formula One team Cadillac F1.
Multiple media outlets reported last month Walter's businesses are under scrutiny from both United States federal prosecutors and the U.S. Securities and Exchange Commission in tax fraud investigations. Walter is co-operating with the investigations.
Walter agreed to a stunning sale of the NBA's Los Angeles Lakers on Aug. 12 to businessmen Josh Kushner and Bob Iger for a record-breaking price of $12.5 billion US, according to a person familiar with the terms who spoke to The Associated Press on condition of anonymity. Walter bought a controlling stake in the franchise from the Buss family last year.
That sale has yet to be approved by the NBA's board of governors.
When asked if it had opened a similar investigation of Walter, the Canadian Securities Administrators directed The Canadian Press to regional securities commissions.
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The PWHL has two subsidiaries based in Canada, one in Toronto and the other in Vancouver.
Spokesmen for the Ontario Securities Commission and British Columbia Securities Commission both say that as a matter of policy they do not confirm or deny the existence of an investigation, and do not provide details of their investigations.
Toronto-based Kilmer Sports Ventures and Detroit-based Ilitch Sports and Entertainment became the first outside investors in the PWHL in June. A source told The Canadian Press at the time that Kilmer's stake was $100 million.
A spokeswoman for Kilmer offered no comment on the PWHL's ownership situation or governance. Ilitch Sports and Entertainment did not immediately reply to a request for comment.
The 66-year-old Walter and his wife Kimbra Walter co-founded the PWHL in 2022 when, through a holding company called the Mark Walter Group, they entered into an agreement with the Professional Women's Hockey Players Association and Billie Jean King Enterprises to form a six-team women's hockey league.
It played its first season in 2024, then added two more for its third season in 2025-26. The Walter Cup, named after the Walters, is the PWHL's championship trophy.
