The PWHL’s sole owner is facing federal scrutiny, as Bloomberg reported US prosecutors and the SEC launched an investigation into Mark Walter and two of his insurance companies for financial improprieties.
The probe looks into Delaware Life Insurance Co. and Clear Spring Life & Annuity Co. potentially funneling policyholder money into other Walter-owned ventures. Both companies were served grand jury subpoenas in February.
Initial findings pegging Delaware Life’s investments in Walter-tied companies at 39%, or roughly $17 billion. That’s far above the 3% originally claimed.
Adding to his multi-team portfolio, Walter bankrolled the PWHL’s 2023 launch. He continues to own all 12 current and incoming teams outright.
The report’s timing raises more questions. The pro hockey league welcomed its first-ever outside investors on June 22nd — four days before the probes were filed.
