Toronto businessman Larry Tanenbaum is making waves once again in the realm of women’s sports with a substantial investment in the Professional Women’s Hockey League (PWHL). His company, Kilmer Sports Ventures, in partnership with Detroit’s Ilitch Companies, has committed $100 million to bolster the league, marking a significant milestone as the first external investors since the PWHL’s inception in 2023.
A New Era for Women’s Hockey
On Monday, the PWHL announced Tanenbaum and Ilitch as strategic partners, setting the stage for an exciting new chapter in women’s hockey. While both companies will play advisory roles, Tanenbaum expressed his enthusiasm for the initiative, emphasising the cultural significance of hockey in Canada.
“Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor,” said Tanenbaum, who serves as Kilmer’s chairman. “Building world-class women’s sports organisations that inspire the next generation of athletes, fans, and leaders is how you create something that truly lasts.”
The PWHL has gained momentum since its establishment, largely thanks to the foundational support from Mark and Kimbra Walter through the Mark Walter Group. Mark Walter, who also owns prominent sports franchises like the Los Angeles Dodgers and the Los Angeles Lakers, has been a pivotal figure in the league’s early development.
Kilmer’s Commitment to Women’s Sports
Kilmer Sports Ventures, under Tanenbaum’s leadership, has a track record of investing in women’s sports. The company founded the Toronto Tempo, Canada’s inaugural WNBA team, and is now deepening its commitment to female athletics through this latest venture.
“We saw that opportunity first with the Tempo, and now we’re proud to deepen that commitment through this significant investment in the PWHL,” Tanenbaum stated. He commended the PWHL’s leadership for their rapid progress and expressed honour in being part of the league’s mission.
Exciting developments are on the horizon for the Tempo as well. Plans were recently unveiled for a dedicated performance centre at Exhibition Place in Toronto, set to open in 2028. This facility will serve as a training hub for the Tempo and a community centre for grassroots engagement, ensuring that the investment in women’s sports continues to thrive at all levels.
The Ilitch Companies Join the Movement
The Ilitch Companies, known for their ownership of the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, have also recognised the potential of the PWHL. CEO Chris Ilitch highlighted the importance of this investment in expanding the reach of women’s hockey.
“The PWHL’s rise has been one of the most compelling stories in professional sports, and we are proud to be part of that story,” Ilitch remarked. “Investing in the PWHL means an opportunity to broaden the game’s reach, connect with new fans, and create pathways for athletes for generations to come.” His organisation has long championed the role of hockey in uniting communities and fostering the next generation of players.
The league has recently expanded its franchise count to 12, with new teams in cities such as Detroit, Hamilton, Las Vegas, and San Jose, poised to debut in the 2026-27 season. The PWHL continues to thrive, demonstrating a 35 per cent increase in its sponsorship portfolio year-on-year, while e-commerce merchandise sales have surged by over 50 per cent. Impressively, the league’s social media presence has achieved more than 682 million impressions.
Why it Matters
This investment from Tanenbaum and the Ilitch Companies signifies a pivotal moment for women’s hockey, showcasing the growing recognition and support for female athletes in professional sports. By backing the PWHL, these influential figures are not only enhancing the league’s financial stability but also paving the way for future generations of athletes. As the league expands and evolves, it promises to inspire a new wave of talent and engagement, fundamentally changing the landscape of women’s sports in Canada and beyond.
