In a significant move for women’s sports, Canadian businessman Larry Tanenbaum and the Ilitch Companies from Detroit have made a monumental investment in the Professional Women’s Hockey League (PWHL). Announced on Monday, this collaboration marks the first external investment in the league since its inception in 2023, with Tanenbaum’s Kilmer Sports Ventures injecting a substantial US$100 million into the organisation. The partnership aims to bolster the league’s growth while both companies will take on advisory roles rather than direct management.
A New Era for Women’s Sports
Larry Tanenbaum, the chairman of Kilmer Sports Ventures, expressed his enthusiasm for the investment, highlighting the deep-rooted connection Canadians have with hockey. “Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor,” Tanenbaum stated. He emphasized the importance of building sustainable, world-class women’s sports organisations that can inspire future generations of athletes and fans.
This investment comes at a pivotal moment for the PWHL, which has relied on foundational backing from the Mark Walter Group since its establishment. Mark Walter, the owner of several major sports franchises—including the Los Angeles Dodgers and Los Angeles Lakers—has been instrumental in supporting the league’s initial growth and continued funding.
Expanding Horizons
The addition of Tanenbaum and the Ilitch Companies to the PWHL’s roster of supporters signals a broader commitment to enhancing the visibility and viability of women’s hockey. Tanenbaum pointed out the evolution of his investment in women’s sports, stating, “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 Toronto Tempo, which Tanenbaum founded and owns, is set to play a pivotal role in this new phase of growth. The Tempo and the City of Toronto recently revealed plans for a dedicated performance centre at Exhibition Place, scheduled to open in 2028. This state-of-the-art facility will not only serve as a training base for the Tempo but will also engage the community with grassroots programmes aimed at developing young talent.
Leadership and Vision
Chris Ilitch, CEO of Ilitch Companies, also voiced his excitement about the partnership, recognising the PWHL’s rapid ascent as a remarkable chapter in professional sports. “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,” Ilitch remarked. He underscored the importance of investing in women’s hockey as a means of expanding the sport’s reach and fostering new fan connections.
As the league prepares for its expansion, which will see the addition of teams in Detroit, Hamilton, Las Vegas, and San Jose by the 2026-27 season, recent statistics indicate a flourishing market. The PWHL has reported a 35 per cent year-over-year growth in sponsorship, a 50 per cent surge in e-commerce merchandise sales, and over 682 million impressions across its social media platforms.
Why it Matters
The investment by Tanenbaum and the Ilitch Companies is more than a financial boost; it represents a critical moment in the evolution of women’s hockey. By aligning with established figures in the sports industry, the PWHL is poised to enhance its profile, attract new fans, and create sustainable pathways for future athletes. This partnership not only reflects a growing recognition of the value of women’s sports but also sets a precedent for other leagues and investors to follow. As the PWHL continues to expand and innovate, it stands to inspire a new generation of players and fans, ensuring that women’s hockey receives the recognition and support it deserves.
