Detroit is set to welcome a new Professional Women's Hockey League (PWHL) team, and the man behind the operation is no stranger to big-league ownership. Meet Mark Walter, the billionaire CEO of Guggenheim Partners, whose vast sports empire already includes the Los Angeles Lakers and Los Angeles Dodgers.
With a net worth estimated at $11.3 billion—ranking him 321st among the world's wealthiest individuals, per Bloomberg—Walter has become one of the most influential figures in professional sports. The 66-year-old Iowa native made headlines last year when he acquired a majority stake in the Lakers at a staggering $10 billion valuation. His portfolio extends far beyond basketball, with minority stakes in Chelsea FC, the Los Angeles Sparks, and Cadillac Formula 1, among others.
As the CEO of Guggenheim Partners, a global investment firm managing roughly $362 billion in assets, Walter also serves as co-chairman and CEO of TWG Global, a holding company focused on financial services. But what makes his involvement with the PWHL particularly unique is the league's single-ownership model—meaning Walter owns every team, not just Detroit's new franchise.
When asked about a potential shift toward individual team ownership, Amy Scheer, PWHL executive vice president of business operations, told reporters there is currently "no timeline for that." For now, the league remains under Walter's unified vision.
Detroit is set to host the 2026 PWHL awards ceremony on June 16, followed by the 2026 PWHL Draft on June 17 at the Fox Theatre—a ticketed event open to fans. This marks an exciting milestone for the Motor City, which joins a league that launched on January 1, 2024, with an abbreviated inaugural season that spring.
The original PWHL teams include the Boston Fleet, Minnesota Frost, Montréal Victoire, New York Sirens, Ottawa Charge, and Toronto Sceptres. The league expanded for the first time last season, adding the Seattle Torrent and Vancouver Goldeneyes in the Pacific Northwest. The Minnesota Frost have dominated early on, claiming back-to-back Walter Cup championships.
As Detroit prepares to enter this growing league, all eyes are on Walter—a man who has built a sports empire from the ground up and is now betting big on women's hockey. Whether you're a fan of the game or simply love the business of sports, this is a story worth watching.