In a significant advancement for women’s sports, Toronto businessman Larry Tanenbaum and the Ilitch Companies from Detroit have made a bold move into the Professional Women’s Hockey League (PWHL). Announced on Monday, the pair has been appointed as strategic partners, with Tanenbaum’s Kilmer Sports Ventures reportedly investing a substantial US$100 million. This investment marks the first time outside investors have come on board since the league’s inception in 2023.
A Commitment to Women’s Sports
Larry Tanenbaum, chairman of Kilmer, expressed his enthusiasm for this partnership, 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 organizations that inspire the next generation of athletes, fans, and leaders is how you create something that truly lasts.” His commitment to developing women’s sports further exemplifies his belief in the potential of these organisations to inspire future generations.
Mark and Kimbra Walter were instrumental in establishing the PWHL, providing foundational support since its launch. Mark Walter, who owns the Los Angeles Dodgers and is a pivotal figure in multiple sports franchises, has played a crucial role in the growth of the league.
Expanding the Horizon for Women Athletes
Tanebaum’s investment is not merely financial; it reflects a deeper commitment to elevating women’s sports. “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. The Toronto Tempo, which Tanenbaum founded, is set to open a dedicated performance centre in Exhibition Place by 2028. This facility will not only serve as a training hub for the team but also engage grassroots initiatives within the community.
The Ilitch Companies, known for owning the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, are equally passionate about this partnership. CEO Chris Ilitch commented, “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.”
The League’s Rapid Growth
The PWHL has recently expanded its roster of teams, adding franchises in Detroit, Hamilton, Las Vegas, and San Jose, bringing the total to twelve for the 2026-27 season. Tanenbaum and Ilitch are not acquiring stakes in individual teams, as the PWHL is committed to a league-owned business model, which has been pivotal in its swift expansion.
Stan Kasten, co-owner and president of the Los Angeles Dodgers and a member of the PWHL’s advisory board, expressed enthusiasm for the new partnerships. “This is so much more than just writing a cheque. To be able to include into our ownership people of this stature, people who are such savvy, longtime sports investors, is the clearest possible signal to all of the marketplaces, to fans, to sponsors, to media companies that we are well-established and growing.”
The PWHL has reported impressive growth metrics, including a 35 per cent increase in sponsorship revenue year-over-year and over 50 per cent growth in e-commerce merchandise sales. Their social media presence has also flourished, generating more than 682 million impressions.
Why it Matters
The influx of investment into the PWHL signifies a pivotal moment for women’s sports, showcasing not just financial backing but also a commitment to fostering a sustainable and equitable playing field for female athletes. As Tanenbaum and Ilitch step into this role, their influence could catalyse further investment and interest in women’s hockey, inspiring a new generation of players and fans while advocating for equal opportunities in sports. This partnership sends a powerful message about the potential of women’s athletics and the importance of community support in building lasting sports organisations.
