The Professional Women's Hockey League (PWHL) is not for sale, confirming stability in its ownership despite co-founder Mark Walter being under federal investigation for loan dealings. Stan Kasten, a member of the league's advisory board, assured that the governance of the 12-team league would continue unchanged as Walter navigates scrutiny from U.S. federal prosecutors and the SEC. PWHL is expanding into new markets including Hamilton and Las Vegas, with no anticipated impact on its ownership structure. As Walter's businesses face tax fraud investigations, he is cooperating fully. Meanwhile, Kasten reassured stakeholders regarding the stability of the Los Angeles Dodgers in light of ongoing speculation surrounding Walter's larger sports empire.

By the Numbers
  • The PWHL consists of 12 teams, expanding to include franchises in four new cities.
  • Walter's recent sale of the Los Angeles Lakers was for a record-breaking $12.5 billion.
State of Play
  • Walter is currently under investigation by U.S. federal authorities for tax fraud concerning his businesses.
  • Canadian securities regulators have declined to confirm any investigations into Walter.
What's Next

The PWHL will continue its expansion plans, while Walter’s investigation progresses. The stability of the league's governance may attract further investment as it solidifies its position in the sports market. Observers will be monitoring Walter's legal challenges closely, as they could impact his sports ventures.

Bottom Line

The PWHL is poised for growth amidst uncertainty surrounding co-founder Mark Walter, emphasizing its commitment to stability and long-term success. This situation underscores the need for clear communication to stakeholders during periods of heightened scrutiny.