The Professional Women's Hockey League has taken a significant step forward by welcoming its first outside investors: Toronto's Larry Tanenbaum of Kilmer Sports Ventures and the Ilitch Companies from Detroit. This move, announced after the PWHL expanded to 12 teams in its third year, signals growing confidence in the league's financial future.
Investors Join the League
Tanenbaum, founder of the WNBA's Toronto Tempo and owner of French soccer club AS Saint-Etienne, has reportedly invested $100 million US. The Ilitch family, owners of the Detroit Red Wings, Detroit Tigers, and Little Caesars Arena, have also contributed significant capital. They join Mark and Kimbra Walter (TWG Global) on the league's investor page.
According to Mike Ganter of the Toronto Sun, the investment does not immediately change league operations but sends a strong signal to potential future investors. "Ilitch and Tanenbaum are two successful venture capitalists with proven track records," the article notes. "The signal is that if these two see the PWHL as a product worth investing in, then others should feel comfortable with the direction the league is headed as well."
What It Means for the League
Beyond the cash infusion, the association with Tanenbaum and the Ilitch family adds credibility. The PWHL's current ownership structure has all 12 teams owned by the Walter Group, but this may change when the league's founding CBA expires in 2031. At that point, having established investors like Tanenbaum and Ilitch could ease the sale of teams to new owners.
Tanenbaum's Kilmer Sports Ventures already shares Coca-Cola Coliseum in Toronto with the PWHL Sceptres and AHL Marlies. He is also building a practice facility for the Tempo, which could benefit the Sceptres.
Impact on Day-to-Day Operations
The new investors' roles are advisory, not operational. The league's daily management remains with the PWHL advisory board and owners Mark and Kimbra Walter. However, the involvement of Tanenbaum and the Ilitch family positions them as likely buyers when the Walter Group begins divesting teams, particularly in Toronto and Detroit.
"The Ilitch name and involvement was all over the recent expansion into Detroit by the PWHL and was again prominently mentioned throughout the Draft and Awards show held in Detroit last week," the article states.
The PWHL's third season concluded with the Montreal Victoire winning the Walter Cup, celebrated at Quartier des Spectacles in Montreal on May 30, 2026.
