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

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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, 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.

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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.

When asked if it had opened a similar investigation of Walter, the Canadian Securities Administrators directed The Canadian Press to regional securities commissions.

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 US$100 million.

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.

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.

The Canadian Press