PWHL Not for Sale, Advisory Board Member Stan Kasten Says

The Professional Women's Hockey League is not for sale and its ownership structure will not change, advisory board member Stan Kasten said in a statement the league provided on Monday, Aug. 24.

"There's absolutely no expected change to ownership of the PWHL," said Kasten, who is also president of the Los Angeles Dodgers. "We continue to operate with the same long-term outlook and commitment to building a sustainable league that we had when we launched."

Kasten made similar remarks to reporters days earlier. The Hockey News reported on Aug. 23 that he said there is "no plan to sell, and no plan to cut back" on the league. "It's all systems go with the PWHL," Kasten said.

The statement followed reports that co-founder Mark Walter is selling pieces of his sports holdings while U.S. federal prosecutors and the Securities and Exchange Commission investigate loans between his insurance companies and businesses tied to him. The Canadian Press reported that the probes concern tax fraud and that Walter is cooperating.

Walter, a Chicago-based billionaire who holds stakes in several teams through TWG Global Holdings, agreed on Aug. 12 to sell the NBA's Los Angeles Lakers to Josh Kushner and Bob Iger for a reported US$12.5 billion. That sale has yet to be approved by the NBA's board of governors.

Walter and his wife, Kimbra, co-founded the PWHL, which played its first season in 2024 with six teams and added two more for 2025-26, its third season. The league announced in May that Detroit, Hamilton, Las Vegas and San Jose would begin play in 2026-27, its fourth season, bringing it to 12 teams. Hamilton will be the fifth Canadian club, joining Toronto, Montreal, Ottawa and Vancouver. All 12 teams are wholly owned by the league.

Kilmer Sports Ventures and Ilitch Companies became the PWHL's first outside investors in June, both in advisory rather than operational roles. The Canadian Press reported Kilmer's stake at $100 million, while The Hockey News put the combined investment at more than $100 million.

"We remain a startup, but we never thought we would be at 12 teams after just three seasons," Kasten said. "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."