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

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.

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