In a significant boost for women’s sports, Toronto entrepreneur Larry Tanenbaum and the Ilitch Companies have become strategic partners of the Professional Women’s Hockey League (PWHL). This partnership, officially announced on Monday, sees Kilmer Sports Ventures, led by Tanenbaum, investing a substantial US$100 million into the league, marking a notable step towards expanding opportunities in women’s hockey. Both companies will serve advisory roles, becoming the PWHL’s first external investors since its inception in 2023.
A Canadian Connection to Women’s Sports
Larry Tanenbaum, the chairman of Kilmer Sports Ventures, expressed his enthusiasm for the investment, 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.”
Kilmer’s investment underscores a growing trend of increased support for women’s sports, with Tanenbaum highlighting the importance of fostering environments that empower female athletes. This investment follows the foundational support provided by Mark and Kimbra Walter, whose Mark Walter Group has been instrumental in the PWHL’s early development. Mark Walter is a notable figure in sports, owning teams across major leagues, including the MLB’s Los Angeles Dodgers and the NBA’s Los Angeles Lakers.
Expanding Opportunities in Women’s Hockey
Tanenbaum is no stranger to women’s sports, having established the WNBA’s Toronto Tempo as Canada’s first professional women’s basketball team. His commitment to women’s athletics has now extended to hockey, as he stated, “We saw that opportunity first with the Tempo, and now we’re proud to deepen that commitment through this significant investment in the PWHL.”
The Tempo is also set to establish a dedicated performance centre in Toronto, scheduled for completion in 2028. This facility will serve as a hub for high-performance training and grassroots engagement, reinforcing the importance of local community involvement in the growth of women’s sports.
Ilitch Companies Join the Movement
The Ilitch Companies, which include the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, are poised to contribute significantly to the PWHL’s vision. Chris Ilitch, CEO of Ilitch Companies, 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. 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 PWHL, operating under a league-owned model, announced recent expansions that will see new franchises in Detroit, Hamilton, Las Vegas, and San Jose, increasing the total number of teams to twelve by the 2026-27 season. This approach has allowed the league to maintain uniformity and rapid growth, with Stan Kasten, a member of the PWHL’s advisory board, noting that having savvy investors like Tanenbaum and Ilitch sends a strong signal of stability and ambition.
A Bright Future for Women’s Hockey
The PWHL has seen impressive growth metrics, with a 35 per cent increase in sponsorship year-on-year, a 50 per cent rise in e-commerce merchandise sales, and over 682 million impressions across social media platforms. The league’s model has allowed it to flourish without the complications of individual team owners, keeping its focus on unified growth.
As Tanenbaum and Ilitch Companies step into their new roles, the momentum surrounding women’s hockey is palpable. Their involvement not only brings financial backing but also a wealth of experience and networks that can further elevate the sport.
Why it Matters
This partnership signifies a pivotal moment for women’s hockey, reflecting a broader societal shift toward recognising and supporting female athletes. By investing in the PWHL, Tanenbaum and the Ilitch Companies are not merely contributing capital; they are championing a movement that seeks to inspire future generations of female athletes. This investment has the potential to reshape the landscape of professional women’s sports, encouraging greater visibility, participation, and support that extends far beyond the ice. As the PWHL continues to expand, the implications of this investment could resonate across the globe, fostering a culture where women’s sports can thrive alongside their male counterparts.
