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Toronto businessman Larry Tanenbaum is making headlines once again with a significant investment in women’s sports. As of Monday, Tanenbaum’s Kilmer Sports Ventures, alongside the Detroit-based Ilitch Companies, has been named strategic partners in the Professional Women’s Hockey League (PWHL). Reports indicate that Kilmer has injected a robust US$100 million into the league, marking a pivotal moment as these partnerships represent the league’s first external investments since its inception in 2023.
A Commitment to Women’s Sports
Larry Tanenbaum, the chairman of Kilmer Sports, expressed his enthusiasm for this new venture, stating, “Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor. 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.” His remarks highlight a dedication not only to the game but also to fostering a sustainable future for women’s sports.
The initial backing for the PWHL was provided by Mark and Kimbra Walter through the Mark Walter Group, which has been critical in establishing the league’s foundation. Mark Walter is notably the owner of several prominent sports franchises, including the Los Angeles Dodgers and the Los Angeles Lakers. Tanenbaum’s investment signals a strengthening of support for women’s hockey, a field that has been gaining momentum in recent years.
Expanding Horizons for Women’s Hockey
With the influx of capital from Kilmer and Ilitch, the PWHL is poised for significant expansion. Chris Ilitch, CEO of Ilitch Companies, remarked on the potential of this partnership, stating, “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.” This commitment from both Tanenbaum and Ilitch could foster increased visibility and resources for women’s hockey, elevating the profile of the sport across North America.
The league has already announced plans to expand its franchises, including new teams in Detroit, Hamilton, Las Vegas, and San Jose, bringing the total to 12 for the 2026-27 season. This growth is complemented by a reported 35 per cent increase in sponsorship revenue year-on-year, alongside a remarkable 50 per cent rise in e-commerce merchandise sales. The PWHL’s social media presence has also flourished, generating over 682 million impressions, indicating a burgeoning fanbase that is hungry for high-quality women’s hockey.
Future Developments and Community Engagement
In addition to this investment, Tanenbaum is also behind the development of the WNBA’s Toronto Tempo, which will establish its first dedicated performance centre at Exhibition Place, slated to open in 2028. This facility aims to serve as a high-performance training venue while also engaging with local communities through grassroots programmes. Tanenbaum stated, “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.” The Tempo will utilise this new centre to foster development initiatives with community groups, ensuring the growth of women’s sports at all levels.
Why it Matters
The investment by Kilmer Sports Ventures and Ilitch Companies is more than just a financial commitment; it represents a significant shift in the landscape of women’s sports, particularly in hockey. As the PWHL continues to evolve, the backing of prominent investors like Tanenbaum and Ilitch can help propel the league to new heights. This partnership not only strengthens the league’s financial foundation but also enhances its outreach and engagement efforts, ultimately inspiring the next generation of female athletes. By investing in women’s hockey, these leaders are laying the groundwork for a more inclusive and diverse sports environment, which is vital for the future of athletics in Canada and beyond.
