**
In a significant boost for women’s sports, Toronto businessman Larry Tanenbaum has made a substantial investment in the Professional Women’s Hockey League (PWHL). Announced on Monday, Tanenbaum’s Kilmer Sports Ventures, in partnership with the Ilitch Companies from Detroit, has committed US$100 million to the league, marking them as its first outside investors since its inception in 2023. This investment underscores a growing commitment to elevating women’s sports on an international scale.
A New Era for Women’s Hockey
Larry Tanenbaum, 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.”
The PWHL, which has quickly established itself as a key player in professional sports, has previously relied on foundational support from Mark and Kimbra Walter through the Mark Walter Group. Mark Walter, who also owns prestigious franchises such as the Los Angeles Dodgers and the Los Angeles Lakers, has been instrumental in the league’s development since its launch.
Expanding the Commitment to Women’s Sports
In addition to this investment, Tanenbaum is also the founder and owner of the WNBA’s Toronto Tempo, further demonstrating his dedication to advancing women’s sports. He noted, “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. What Mark Walter and PWHL senior leadership have built so quickly is incredible, and we’re honoured to be part of this league and everything it stands for.”
The Tempo is set to establish its first dedicated performance centre in Toronto, which is expected to open in 2028. This facility will serve not only as a training hub for the Tempo but also as a centre for community engagement and grassroots development.
Ilitch Companies Join the Fray
The Ilitch Companies, a prominent player in the sports industry, owning the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, also joined the PWHL investment. 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.”
Stan Kasten, co-owner and president of the Dodgers and a member of the PWHL’s advisory board, welcomed Tanenbaum and the Ilitch Companies to the league. He highlighted the significance of their involvement, saying, “This is so much more than just writing a cheque. To be able to include into our ownership people of this stature, 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.”
Growth and Future Prospects
The PWHL has seen rapid expansion, recently announcing new franchises in Detroit, Hamilton, Las Vegas, and San Jose, bringing the total number of teams to 12 by the 2026-27 season. Despite the influx of new investment, the league remains committed to a single entity ownership model, which has been vital to its swift progress. Kasten noted, “We don’t have different owners with varying budgets and agendas, which has enabled us to grow this fast.”
This commitment to a unified business model has allowed the league to flourish, as evidenced by a 35 per cent increase in its sponsorship portfolio and a 50 per cent rise in e-commerce merchandise sales. Moreover, the league’s social media presence has generated over 682 million impressions, showcasing its growing popularity.
Why it Matters
Larry Tanenbaum’s investment in the PWHL, alongside the Ilitch Companies, is a landmark moment for women’s hockey and sports at large. It not only provides essential financial backing but also signifies a broader cultural shift towards valuing and investing in women’s sports. As the PWHL continues to grow and attract attention, this investment paves the way for future generations of female athletes, ensuring that they have the resources, visibility, and support to thrive in competitive sports. The message is clear: women’s hockey is not just an emerging market; it is a vital component of the global sports landscape.
