Born in Fribourg, Switzerland, Fasel started his playing career with the Swiss league team HC Fribourg-Gottéron in 1960.

In March 1995, he helped negotiate an agreement so that NHL players could compete at the 1998 Winter Olympics in Nagano, Japan.

[5] He has also vowed to "work day and night" to help negotiate an agreement that will see NHL players participate in the 2014 Winter Olympics.

[8] He was named to the board on 7 August at the 120th IOC Session held before the 2008 Summer Olympics and served an eight-year term until 2016 when he was replaced by Gian-Franco Kasper.

[9] In a conflict of interest, Fasel assisted a friend in securing a contract for overseeing the IIHF's television and marketing rights.

[11] He was against NHL expansion plans into Europe, and envisioned a European professional league, where the champion would play the Stanley Cup winner for a world title.

[13] In January 2021, Fasel was criticized for meeting with Alexander Lukashenko regarding the 2021 Men's Ice Hockey World Championships during the 2020–2021 Belarusian protests.

[20][21] In March 2022, Fasel denied a report that he signed a contract to be an advisor to the Kontinental Hockey League (KHL).

[23] The Associated Press reported that Fasel had been publicly friendly with Vladimir Putin, and that the Russian Hockey Federation instructed the KHL to distribute material supporting the invasion.