In a significant boost for women’s hockey, Toronto entrepreneur Larry Tanenbaum and his firm, Kilmer Sports Ventures, have partnered with the Ilitch Companies to invest in the Professional Women’s Hockey League (PWHL). This announcement, made on Monday, marks the first external investment in the league since its inception in 2023, with Kilmer contributing a substantial US$100 million. Both organisations will assume advisory roles, aiding the league’s growth while maintaining operational independence.
A New Chapter for Women’s Sports
Larry Tanenbaum, chairman of Kilmer, expressed his enthusiasm for this investment, stating, “Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor.” He emphasised that fostering world-class women’s sports organisations is essential for inspiring future generations of athletes and fans. This commitment is further underscored by the foundational support provided by Mark and Kimbra Walter, whose Mark Walter Group has been instrumental since the league’s establishment.
Mark Walter, already a prominent figure in sports ownership with stakes in teams such as the Los Angeles Dodgers and Lakers, has played a crucial role in the PWHL’s development. His investment strategy reflects a growing recognition of the potential within women’s professional sports.
Strengthening Community and Talent Development
In addition to the investment, Tanenbaum’s involvement as the founder of the WNBA’s Toronto Tempo showcases his dedication to advancing women’s sports in Canada. 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.” The Tempo recently announced plans to build a dedicated performance centre at Exhibition Place, scheduled to open in 2028. This facility aims to serve as a training hub for the team while also engaging the local community through development programmes.
The Ilitch Companies, which owns the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, also recognise the PWHL’s potential. CEO Chris Ilitch 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.” He highlighted the investment as a means to broaden the game’s appeal and create opportunities for future athletes.
Expansion and Growth of the PWHL
The PWHL is in a phase of rapid expansion, recently announcing new franchises in Detroit, Hamilton, Las Vegas, and San Jose, which will increase the league’s total to twelve teams by the 2026-27 season. This growth reflects the soaring popularity of women’s hockey, evidenced by a 35% increase in the league’s sponsorship portfolio and a remarkable 50% rise in merchandise sales. The PWHL’s social media presence has also been impressive, amassing over 682 million impressions.
This development signals a turning point for women’s sports, particularly hockey, which has historically been underfunded and underrepresented. With substantial investments and strategic partnerships, the PWHL is poised to elevate women’s hockey on the global stage.
Why it Matters
The partnership between Kilmer Sports Ventures and the Ilitch Companies not only signifies a financial commitment but also represents a cultural shift in how women’s sports are perceived and valued. As interest in women’s hockey continues to grow, this investment will help create a sustainable and competitive environment for athletes, paving the way for future generations. In a landscape where women’s sports are finally receiving the recognition they deserve, the PWHL stands at the forefront, ready to inspire and empower.
