In a significant boost for women’s sports, Toronto businessman Larry Tanenbaum and the Ilitch Companies have made a notable entrance into the Professional Women’s Hockey League (PWHL) as strategic partners. Announced on Monday, this partnership marks the first time external investors have joined the league since its inception in 2023, with Tanenbaum reportedly injecting US$100 million into the organisation.
A Game-Changing Investment
Larry Tanenbaum, chairman of Kilmer Sports Ventures, expressed his enthusiasm for the investment, highlighting Canada’s deep-rooted connection to hockey. “Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor,” Tanenbaum stated. He underscored his commitment to fostering world-class women’s sports programmes that can inspire future generations of athletes and leaders.
The foundational support for the PWHL has primarily come from Mark and Kimbra Walter, who have provided crucial funding through the Mark Walter Group. Mark Walter also serves as the owner and chairman of several prestigious sports franchises, including the Los Angeles Dodgers and Los Angeles Lakers.
Expanding Horizons for Women’s Sports
Tanenbaum’s investment builds on his previous commitment to women’s sports through the establishment of the WNBA’s Toronto Tempo, which is Canada’s inaugural WNBA team. “We saw that opportunity first with the Tempo, and now we’re proud to deepen that commitment through this significant investment in the PWHL,” he remarked, commending the rapid development of the league under its leadership.
In a related initiative, the Tempo recently announced plans for a dedicated performance centre at Exhibition Place in Toronto, set to open in 2028. This state-of-the-art facility aims to serve both as a high-performance training hub for the Tempo and a space for grassroots engagement within the community.
A Shared Vision for the Future
The Ilitch Companies, which own the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, also see potential in the PWHL. Chris Ilitch, CEO of Ilitch Companies, expressed pride in joining the league’s journey. “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,” he said. This partnership is set against the backdrop of the PWHL’s recent expansion, which will see the league grow to 12 teams by the 2026-27 season, including new franchises in Detroit, Hamilton, Las Vegas, and San Jose.
The league has also shown impressive growth metrics, reporting a 35 per cent increase in its sponsorship portfolio year-on-year, alongside a more than 50 per cent rise in e-commerce merchandise sales. Their social media presence has skyrocketed, amassing over 682 million impressions, indicating a burgeoning interest in women’s hockey.
Why it Matters
The investment from Tanenbaum and Ilitch Companies signifies a pivotal moment in the evolution of women’s sports, particularly in hockey. With increased financial backing, the PWHL is poised to elevate its profile and further engage fans while providing aspiring athletes with valuable opportunities. This partnership not only enhances the league’s sustainability but also reinforces a broader commitment to gender equity in sports, inspiring future generations to embrace and participate in women’s hockey.
