The Mark Walter Group and Billie Jean King Enterprises acquired the PHF, and one women's hockey league could be coming. Ian Kennedy brings the evolving situation up to speed.

When news broke of the Mark Walter Group and Billie Jean King Enterprises acquiring the PHF, it was met with mixed reactions. First, there was excitement that one best-on-best professional women’s hockey league was about to be created.

Next, when it was learned every contract signed this summer by more than 100 women in the PHF was to be voided, there was a mix of anger and fear among fans and players.

The situation is still rapidly evolving, but here’s what has been reported so far.

- PHF acquired: The Mark Walter Group and Billie Jean King Enterprises have been working with the PWHPA for more than a year, attempting to launch a professional women’s hockey league. Instead of continuing on their path alone, the groups acquired the PHF. 

- It’s not a merger: It’s an acquisition. Looking at the 1979 merger of the WHA and NHL, two teams folded. But the remaining league, the NHL, ended up with more teams. From what we’ve heard thus far, no new teams will be formed. In fact, there’s a potential for fewer teams.

- All PHF contracts voided: All players in the PHF were informed on Thursday their contracts would be voided. This off-season, more than 100 contracts were signed, including close to 40 newcomers to the PHF. For the first time in league history, the PHF was entering this season with a $1.5-million salary cap and several players making six-figure salaries across the league.

- Women will lose jobs: The benefits of a best-on-best league are immense. At some point, now or in the future, one league would have emerged as the best in the world, likely resulting in contraction in a multi-league system, but this does it off the hop. The result will be an elite league and also more than 100 players losing their jobs. The PWHPA last season had 98 members, while the PHF had more than 160 players compete. If the originally proposed six-team league with 23 players per roster becomes a reality, that means only 138 of the more than 250 women who were professional hockey players in North America this season will be playing hockey next year.

- Best-on-best: While the initial reaction was hurt and confusion for many, ultimately, fans will get a best-on-best professional league unlike any seen in the history of the game. It will likely be a league involving Marie-Philip Poulin and Alina Muller, Taylor Heise and Loren Gabel. The competition level will provide hockey fans with a new option.

While no official statement has been released by any party involved, The Hockey News confirmed the acquisition directly with PHF sources.

Last season, the PHF featured seven teams, the Boston Pride, Minnesota Whitecaps, Connecticut Whale, Montreal Force, Metropolitan Riveters, Buffalo Beauts and the Isobel Cup champion Toronto Six. The PWHPA played another installment of their Dream Gap Tour featuring Team Scotiabank, Team Adidas, Team Sonnet and the eventual champion Team Harvey’s.

For more information and developments as they happen, visit The Hockey News’ Women’s hockey site.