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In a significant boost for women’s sports, Toronto entrepreneur Larry Tanenbaum has made a landmark investment in the Professional Women’s Hockey League (PWHL). His company, Kilmer Sports Ventures, alongside the Detroit-based Ilitch Companies, has officially become a strategic partner of the league, marking this as their first involvement since the PWHL’s inception in 2023. The partnership involves a substantial commitment of US$100 million, although both firms will play advisory roles rather than operational ones.
A Strong Commitment to Women’s Sports
Larry Tanenbaum, who serves as chairman of Kilmer Sports, 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.” This investment underscores a growing movement towards supporting women’s sports at a professional level, particularly in hockey, a sport deeply ingrained in Canadian culture.
The PWHL has received crucial backing since its establishment, notably from Mark and Kimbra Walter through the Mark Walter Group. Mark Walter is known for his ownership of prestigious sports franchises including the Los Angeles Dodgers and the Los Angeles Lakers. Tanenbaum has previously invested in women’s sports through his ownership of the WNBA’s Toronto Tempo and holds a minority stake in Maple Leaf Sports & Entertainment, which governs the NHL’s Maple Leafs and NBA’s Raptors.
Developing Infrastructure for Growth
In tandem with this investment, the Toronto Tempo announced plans for a dedicated performance centre at Exhibition Place, set to open in 2028. This facility will serve as a high-performance training hub for the Tempo, as well as a community engagement centre aimed at grassroots development. “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.
This initiative not only enhances training opportunities for athletes but also aims to foster a greater connection with the local community, creating pathways for young girls to engage in sports. Such infrastructure is vital for nurturing talent and promoting women’s hockey, ensuring that the next generation has the resources and support to succeed.
Expanding the League’s Reach
The PWHL is experiencing rapid growth, with recent announcements of expansion franchises in cities like Detroit, Hamilton, Las Vegas, and San Jose, bringing the total to 12 teams by the 2026-27 season. Chris Ilitch, CEO of Ilitch Companies, highlighted the importance of this development, 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.” He emphasised that investing in the league is not merely a financial decision but a commitment to broaden the sport’s reach and engage new fans while creating sustainable pathways for future athletes.
Stan Kasten, co-owner of the Dodgers and a member of the PWHL’s advisory board, also expressed enthusiasm about the involvement of Tanenbaum and Ilitch, stating, “This is so much more than just writing a cheque. Including such savvy, longtime sports investors sends a clear signal to fans, sponsors, and media that we are well-established and growing.”
A Unique Business Model
The PWHL operates under a single-entity ownership model, which has facilitated its rapid growth. This structure has allowed the league to avoid the complications of different owners with varying budgets and agendas, thus streamlining operations and enabling swift expansion. “Our first game was two and a half years ago. We thought it would take us 10 or 12 years to get to 12 teams, but the response has been there from fans and sponsors,” Kasten noted.
The league’s sponsorship portfolio has reportedly grown by 35% year-on-year, while e-commerce merchandise sales have surged by over 50%. Additionally, their social media presence has generated more than 682 million impressions, showcasing a growing interest in women’s hockey and a promising future for the league.
Why it Matters
This investment by Tanenbaum and the Ilitch Companies is a pivotal moment for the PWHL and women’s sports as a whole. It amplifies the visibility of female athletes and highlights the increasing recognition of the importance of diversity in professional sports. As the PWHL continues to expand, it lays a foundation for future generations of women in hockey, ensuring that they have the resources, support, and opportunities necessary to thrive on the global stage. The commitment to developing both the sport and its community is not just an investment in hockey; it’s an investment in equality and the future of women’s athletics.
