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In a landmark move for women’s sports, Toronto entrepreneur Larry Tanenbaum has partnered with the Ilitch Companies to invest in the Professional Women’s Hockey League (PWHL). Announced on Monday, this collaboration marks a pivotal moment for the league, with Tanenbaum’s Kilmer Sports Ventures contributing a remarkable US$100 million. This investment not only signifies a strong commitment to women’s hockey but also positions both companies as strategic advisors rather than operational leaders within the league.
A New Era for Women’s Hockey
The PWHL, established in 2023, has been making waves in the world of professional sports, and the recent financial backing from Tanenbaum and Ilitch Companies represents the first external investment since its inception. “Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor,” stated Tanenbaum, who serves as chairman of Kilmer Sports Ventures. His vision extends beyond mere investment; he aims to cultivate world-class women’s sports organisations that inspire future generations of athletes, fans, and leaders.
The foundational support that propelled the PWHL into existence came from Mark and Kimbra Walter through the Mark Walter Group. Mark Walter is well-known as the owner of high-profile sports franchises, including the Los Angeles Dodgers and the Los Angeles Lakers.
Strengthening Women’s Sports
Tanenbaum’s investment reflects a broader commitment to women’s sports, evidenced by his ownership of the WNBA’s Toronto Tempo. “We saw that opportunity first with the Tempo, Canada’s first WNBA team, and now we’re proud to deepen that commitment through this significant investment in the PWHL,” he remarked, showcasing his dedication to the advancement of women in athletics.
The Toronto Tempo, in collaboration with the City of Toronto, has announced plans for a dedicated performance centre at Exhibition Place, set to open in 2028. This facility will serve as a high-performance training hub for the Tempo and a focal point for grassroots engagement, allowing the team to deliver development programmes in partnership with local community groups.
The Ilitch Companies Join the Fray
The Ilitch Companies, which own the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, have also recognised the potential within the PWHL. Chris Ilitch, CEO of Ilitch Companies, expressed enthusiasm about their involvement: “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. 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.”
With the recent expansion of the league, which has added franchises in Detroit, Hamilton, Las Vegas, and San Jose, the PWHL will boast a total of 12 teams by the 2026-27 season. The league has seen a 35 per cent year-on-year growth in its sponsorship portfolio, and merchandise sales have surged by more than 50 per cent. Furthermore, its social media channels have generated over 682 million impressions, highlighting the growing interest and engagement in women’s hockey.
Why it Matters
Tanenbaum’s investment signals a transformative moment for women’s hockey, setting a precedent for future investments in women’s sports. As the PWHL continues to flourish, this financial backing will not only enhance the league’s competitive landscape but also inspire a new generation of female athletes. The combination of strong local support and strategic partnerships has the potential to reshape the future of women’s hockey, proving that the sport can thrive on both community engagement and substantial investment. The implications of this development extend beyond the rink, fostering a culture of equality and opportunity in athletics that resonates with fans and aspiring athletes alike.
