Professional Women’s Hockey League not for sale as co-founder Walter is investigated

Multiple media outlets reported last month that 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 Lakers on Aug. 12 to businessmen Josh Kushner and Bob Iger for a record-breaking price of US$12.5 billion, 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.

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 and that both companies hold advisory rather than operational roles.

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.

The PWHL announced this summer that it would expand to Hamilton, Detroit, San Jose and Las Vegas. The Hamilton franchise will be the fifth team in Canada, joining the Toronto Sceptres, Montreal Victoire, Ottawa Charge and Vancouver Goldeneyes. All 12 teams are wholly owned by the league.

“This is such a thrilling time to be part of the PWHL, or, more importantly, to be a fan,” said Kastens in his statement. “We remain a startup, but we never thought we would be at 12 teams after just three seasons.

“The future of the league is bright, and our ownership is incredibly proud of both the progress we’ve made so far, as well as our future.”

Kasten, who is also the president of the Los Angeles Dodgers, spoke to reporters on Friday to calm online speculation about the future of the Major League Baseball franchise, which is the crown jewel of Walter’s sports properties.

“The Dodgers are not being sold. They’re not for sale. There’s no process that has been started to sell it, period,” he told reporters on the field before the team’s game against Pittsburgh. “We are planning only to win.”

Walter led Guggenheim Baseball Management’s $2.15 billion purchase of the Dodgers in 2012. The deal was financed in part with money from Guggenheim-linked insurance companies. Through GBM, he owns 27 per cent of the reigning World Series champions.

— With files from The Associated Press.

This report by The Canadian Press was first published Aug. 24, 2026.

John Chidley-Hill, The Canadian Press

by The Canadian Press

Professional Women’s Hockey League not for sale as co-founder Walter is investigated

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