Wolman was also one of the founding owners, briefly in 1967, of the expansion Philadelphia Flyers of the National Hockey League. Over the next two years, his $100-million financial empire crumbled into bankruptcy, and he was forced to give up his interests in both teams.
Wolman's involvement with the Philadelphia Flyers began in 1967 as a founding owner, but his financial troubles led to him selling his shares within two years.