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Toronto businessman Larry Tanenbaum is making significant strides in the realm of women’s sports with a new investment in the Professional Women’s Hockey League (PWHL). On Monday, Kilmer Sports Ventures, under Tanenbaum’s leadership, along with Detroit’s Ilitch Companies, were announced as strategic partners of the league. Reports indicate that Kilmer has committed a substantial US$100 million to the PWHL, marking the first entry of outside investors since the league’s inception in 2023.
A New Era for Women’s Hockey
“Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor,” stated Tanenbaum. He emphasised the importance of fostering world-class women’s sports organisations that can inspire future generations of athletes and fans. This investment is seen as a pivotal step towards creating a sustainable and influential platform for women in hockey.
The PWHL, which has thrived under the foundational support of Mark and Kimbra Walter, continues to gain momentum in its mission to elevate women’s hockey. Mark Walter, who is also the owner and chairman of several major sports franchises, including the Los Angeles Dodgers and the Los Angeles Lakers, has been instrumental in the league’s early development.
Expanding Horizons
As the founder of the WNBA’s Toronto Tempo, Tanenbaum is no stranger to investing in women’s sports. He holds a minority share in Maple Leaf Sports & Entertainment, which oversees major teams like the NHL’s Toronto Maple Leafs and the NBA’s Toronto Raptors. “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,” Tanenbaum remarked.
The Tempo recently announced plans for a dedicated performance centre at Exhibition Place, set to open in 2028. This facility will not only serve as a training hub for the team but also engage the community with grassroots programming—further solidifying the commitment to fostering talent at all levels.
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 echoed Tanenbaum’s sentiments. CEO Chris Ilitch remarked, “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.” He highlighted the potential of the PWHL to expand the game’s reach and create lasting pathways for future athletes.
With the recent expansion of franchises in cities like Detroit, Hamilton, Las Vegas, and San Jose, the PWHL is set to grow from eight to twelve teams by the 2026-27 season. This expansion not only enhances the league’s competitiveness but also opens doors for increased visibility and support for women’s hockey.
Growth and Engagement
The PWHL has shown impressive growth since its inception, with a reported 35 per cent increase in its sponsorship portfolio year-over-year. E-commerce merchandise sales have surged by over 50 per cent, and the league’s social media channels have amassed more than 682 million impressions. This upward trajectory reflects a burgeoning interest in women’s hockey and suggests a bright future for the league.
Why it Matters
This investment from Tanenbaum and the Ilitch Companies is not just a financial commitment; it represents a cultural shift in the perception and support of women’s sports in Canada and beyond. By backing the PWHL, these influential figures are paving the way for increased visibility, opportunity, and inspiration for young female athletes. The impact of such investments can resonate for generations, helping to solidify women’s hockey as a staple of the sporting landscape, fostering a community that champions inclusivity and equality in sports.