Toronto businessman Larry Tanenbaum's company invests $100 million US in PWHL

Toronto man of affairs Larry Tanenbaum is erst once more investment in women's sports.

Tanenbaum's Kilmer Sports Ventures and the Detroit-based Ilitch Companies feature officially bought into the Professional Women's Hockey League, being named strategic partners on Monday. A source told The Canadian Press that Kilmer invested $100 million US directly into the PWHL and that both companies will be holding advisory rather than operational roles.

They are the PWHL's first outside investors since the league was established in 2023

"Hockey is in our DNA as Canadians, and that passion brought us to the PWHL as its first Canadian investor," said Tanenbaum, Kilmer's chairman. "Building world-class women's sports organizations that inspire the next generation of athletes, fans, and leaders is how you create something that truly lasts."

The foundational support that launched the PWHL three years ago, along with the league's continued funding to date, has been provided by Mark and Kimbra Walter, through the Mark Walter Group.

Mark Walter is also the owner and chairman of Major League Baseball's Los Angeles Dodgers, the National Basketball Association's Los Angeles Lakers, the Women's National Basketball Association's Los Angeles Sparks and other sports properties.

Tanenbaum, through Kilmer, is the founder and owner of the WNBA's Toronto Tempo. He's also a minority owner of Maple Leaf Sports & Entertainment, the parent company of the NHL's Maple Leafs and NBA's Raptors, among other Toronto-based sports properties, through Kilmer.

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"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," said Tanenbaum of investing more money into 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."

The Tempo and the City of Toronto announced on April 17 plans to develop the team's first dedicated performance centre at Exhibition Place.

Scheduled to open in 2028, the purpose-built facility will serve as both a high-performance training home for the Tempo and a hub for grassroots engagement. The Tempo will use the centre to deliver development programming with community groups.

Ilitch Companies is the parent of Ilitch Sports + Entertainment, the owner of the NHL's Detroit Red Wings and MLB's Detroit Tigers, as well as Little Caesars Arena in downtown Detroit.

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"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," said Chris Ilitch, CEO of Ilitch Companies. "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.

"Our organization has long believed in the power of hockey to bring communities together and open doors for the next generation."

The eight-team league recently announced expansion franchises in Detroit, Hamilton, Las Vegas and San Jose, bringing its total to 12 teams for the 2026-27 season.

The PWHL said its sponsorship portfolio has grown 35 per cent year-over-year, e-commerce merchandise sales have increased by more than 50 per cent, and its social media channels have generated more than 682 million impressions.

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