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Just one month after completing its third season, the Professional Women’s Hockey League has added its first outside investment, the league announced on Monday morning.
Kilmer Sports Ventures, which is led by Toronto businessman Larry Tanenbaum, and Ilitch Companies, the parent company of the NHL’s Detroit Red Wings and MLB’s Tigers, have joined the league as partners.
Since its inception, the league has operated under a single-entity ownership model, meaning Mark Walter — the billionaire owner of the Los Angeles Dodgers — and his wife, Kimbra, own the league and its franchises. According to the league’s press release, Mark and Kimbra Walter, who own the PWHL through holding company TWG Global, will continue to oversee the league along with the PWHL’s Advisory Board, which includes tennis legend Billie Jean King and her longtime partner Ilana Kloss.
According to Sportico, the league has received a $100 million investment; however, financial terms were not disclosed in the league’s announcement. This is the first time the PWHL, which was established in 2023, has accepted outside capital.
“Kimbra and I are incredibly proud of what the PWHL has accomplished in a short time and are excited about what it can achieve moving forward,” Walter said in a press release. “As we continue building the PWHL for the long term, we’re thrilled to welcome Kilmer Sports Ventures and Ilitch Companies as partners. They bring tremendous experience in professional hockey and a deep commitment to women’s sports, and they share our vision for the future as we continue growing the league.”
Kilmer Sports, led by Tanenbaum, owns a stake in Maple Leaf Sports and Entertainment, the parent company of the Toronto Maple Leafs and the NBA’s Toronto Raptors. Kilmer Sports also recently paid a $50 million expansion fee to bring the WNBA to Toronto with the Toronto Tempo. Ilitch Companies is based in Detroit and is run by Chris Ilitch, who also manages Little Caesars Arena, home of the Red Wings and the PWHL’s new expansion franchise in Detroit, as well as other entertainment venues across the region.
“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. 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 in the release. “What Mark Walter and PWHL senior leadership have built so quickly is incredible, and we’re honored to be part of this league and everything it stands for.”
The PWHL officially launched in January 2024 with six original franchises. The league expanded for the first time ahead of the 2025-26 season, adding teams in Vancouver and Seattle, and saw record growth in its third season. This year, the league surpassed one million fans in attendance in a single season for the first time. Average attendance also rose 28 percent from 7,230 spectators in 2024-25 to 9,304 this season — a 71 percent increase over the inaugural season in 2024. Last month, the PWHL officially introduced four new expansion franchises — in Detroit, Hamilton, Las Vegas and San Jose — for the 2026-27 season.
“I’m not sure people would have thought (expansion) would have come this fast,” said Amy Scheer, the PWHL’s executive vice president of business operations. “The fact that there is demand for the PWHL and people want us in their markets is really exciting for our league and for the game and for the growth of women’s hockey.”
This article originally appeared in The Athletic.
NHL, Women’s Hockey
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