PWHL owner Mark Walter quickly sold the NBA's Los Angeles Lakers this month, and is now looking to sell off his stake in Chelsea FC according to reports. All while Walter is under financial investigation for possible fraud. Could PWHL teams be next?
Mark Walter is looking to make another significant move.
The PWHL owner finds himself and his companies under federal investigation by prosecutors, the SEC, and FBI. It stems from related party transactions that were incorrectly reported by at least $16 billion. The money in question was reportedly invested by Walter operated insurance companies into other Walter affiliated entities.
In the wake of this investigation, Walter made more headlines selling off his majority ownership of the NBA's Los Angeles Lakers in a deal that valued the team at $12.5 billion.
Now, the flurry of activity continues as reports are out that Mark Walter is exploring selling his share in the ownership of the Premier League's Chelsea FC. Walter owns 12.8% of Chelsea FC, a club valued at $6.75 billion. BBC reports that Walter is looking at selling to Chelsea's current majority owner, Clearlake Capital.
Walter's ownership is not the only PWHL tie that has received attention in this investigation. The Athletic reports that one of the affiliated entities that received an investment from those funds, was made to Dodger Tickets LLC, whose CEO is Stan Kasten, a member of the PWHL's Advisory Board. The Athletic reached out to Kasten for comment, but he declined.
Walter's Guggenheim paid the SEC $15 million in 2024 for record keeping violations. The perceived impact of the current investigation, however, coinciding with the potential for the sale of two major sports franchises only weeks apart, is significant.
Right now however, no formal connection has been made between the financial investigations into Walter's companies, and his sale of the Lakers, or potential sale of Chelsea FC.
Could The PWHL Be On The Block Next?
Mark Walter's purchase of the NBA's Los Angles Lakers was formally approved by the NBA's Board of Governors on October 30, 2025. The sale was for $10 billion. Now, less than a year later, Walter agreed to resell the Lakers, which were valued at $12.5 billion. It was a move nobody saw coming.
Now, only days after that sale, Walter is looking to potentially sell his stake in Chelsea FC.
It's another liquidation of assets, namely his professional sports entities, that few saw coming in the sports world for Mark Walter.
While the PWHL has said they intend to stay with the single-entity ownership model, Walter does have 12 franchises in the league, which could draw significant financial interest. In fact, they already have adding outside investors from Kilmer Sports Ventures and Ilitch Companies, run by Larry Tanenbaum and Chris Ilitch respectively, only months ago.
Tanenbaum's investment was reported to be $100 million into the Walter-owned PWHL.
If that investment someday equates to ownership of a PWHL franchise for Kilmer Sports Ventures and Ilitch Companies, then Walter could have a very lucrative asset on his hands in 10 more teams.
With the Los Angeles Lakers moving, and possibly now Chelsea FC, anything is possible.
It's unknown if Mark Walter is done his selling spree, or if the sale of the Los Angeles Lakers, and the reported potential sale of Chelsea FC, is just the beginning.
