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In a landmark development for women’s sports, Canadian businessman Larry Tanenbaum has made a substantial investment into the Professional Women’s Hockey League (PWHL). Through his company, Kilmer Sports Ventures, Tanenbaum has partnered with the Detroit-based Ilitch Companies, committing an impressive US$100 million to bolster the league’s future. This investment marks the first time external funding has been introduced since the league was established in 2023, highlighting a pivotal moment in the growth of women’s hockey.
A Commitment to Women’s Sports
Larry Tanenbaum, who serves as chairman of Kilmer Sports Ventures, expressed his enthusiasm for the PWHL, 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 commitment underscores the increasing recognition of women’s sports and the potential to cultivate a new generation of talent.
Tanenbaum’s investment comes on the heels of foundational support provided by Mark Walter and Kimbra Walter, the driving forces behind the Mark Walter Group. Walter, who also owns the Los Angeles Dodgers and the Los Angeles Lakers, has been instrumental in launching and sustaining the PWHL since its inception.
Expanding Opportunities in Women’s Hockey
Kilmer Sports Ventures will assume an advisory role within the PWHL, while the Ilitch Companies, owners of the NHL’s Detroit Red Wings and MLB’s Detroit Tigers, will join as strategic partners. 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.” This collaboration aims to enhance the league’s visibility and accessibility, ultimately fostering a more inclusive culture in professional hockey.
The PWHL has already announced expansion plans, introducing new franchises in cities such as Detroit, Hamilton, Las Vegas, and San Jose. This expansion will elevate the league’s total to twelve teams for the upcoming 2026-27 season, further signalling the growing interest and investment in women’s hockey.
Strengthening Community Engagement
In addition to his investment in the PWHL, Tanenbaum is also focused on developing women’s sports at the grassroots level. His company is spearheading the creation of a dedicated performance centre for the Toronto Tempo, Canada’s first WNBA team, which is set to open in 2028. This facility will serve not only as a training ground for the Tempo but also as a hub for community engagement, offering development programming aimed at nurturing young athletes.
The Tempo’s initiatives will seek to inspire the next generation of players and fans, reflecting Tanenbaum’s vision of creating lasting institutions in women’s sports. “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,” he added, emphasising the importance of collaborative efforts in promoting women’s sports.
Why it Matters
The investment from Kilmer Sports Ventures and the Ilitch Companies signifies a monumental step forward for women’s professional hockey and sports as a whole. By attracting significant external funding, the PWHL is poised to enhance its competitive landscape and expand its reach, ultimately inspiring more young women to participate in hockey. This commitment to women’s sports not only elevates the profile of the PWHL but also reinforces the belief that women’s athletics can thrive with the right support and investment. As the league continues to grow, it paves the way for future generations of female athletes, creating a more diverse and inclusive sporting environment.
