When Detroit's new Professional Women's Hockey League team hits the ice, they'll be playing for one of the most powerful—and wealthiest—owners in all of sports. Meet Mark Walter, the billionaire CEO behind the PWHL's unprecedented single-ownership model.
With a net worth of approximately $11.3 billion, the 66-year-old Iowa native ranks as the 321st richest person in the world, according to Bloomberg. But what truly sets Walter apart is his staggering sports portfolio. He made headlines last year when he acquired a majority stake in the Los Angeles Lakers at a $10 billion valuation, joining an elite club that also includes minority stakes in Chelsea FC, the Los Angeles Sparks, and Cadillac Formula 1.
Walter's business empire is powered by Guggenheim Partners, a global investment firm he leads as CEO, managing an estimated $362 billion in assets. He also serves as co-chairman and CEO of TWG Global, a holding company specializing in financial services investments.
Here's where it gets interesting for hockey fans: the PWHL operates under a single ownership model, meaning Walter owns every team in the league—not just Detroit's expansion club. When asked about the timeline for allowing individual team owners, PWHL Executive Vice President of Business Operations Amy Scheer told reporters there's "no timeline for that" at this point.
Detroit's new team enters a league that's already making waves. Launched on January 1, 2024, the PWHL originally featured six teams: 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.
For Detroit fans eager to mark their calendars: the Motor City will host the 2026 PWHL awards ceremony on June 16, followed by the 2026 PWHL Draft on June 17 at the historic Fox Theatre—a ticketed event open to the public.
As the two-time defending champion Minnesota Frost continue to dominate with back-to-back Walter Cup Playoff victories, all eyes are on Detroit's newest sports franchise. With a billionaire owner who clearly knows how to build championship-caliber organizations, the future of women's hockey in the Motor City looks brighter than ever.