Professional Women's Hockey League to maintain ownership amid Mark Walter investigation

The Professional Women's Hockey League (PWHL) has confirmed there are no plans to sell the league or alter its ownership structure. Stan Kasten, a member of the PWHL advisory board, stated that the governance of the 12-team league will remain stable despite ongoing investigations into co-founder Mark Walter.

Walter, a billionaire through TWG Global Holdings, is currently facing scrutiny from United States federal prosecutors and the U.S. Securities and Exchange Commission regarding tax fraud investigations involving loans between his insurance companies and related businesses. Walter is reportedly cooperating with these investigations.

Amid these legal challenges, Walter has moved to sell portions of his sports empire, including a record-breaking $12.5 billion agreement to sell the NBA's Los Angeles Lakers to Josh Kushner and Bob Iger. The PWHL is currently expanding to include new franchises in Hamilton, Detroit, San Jose, and Las Vegas.