PWHL receives first outside investors in league history
The Professional Women’s Hockey League is receiving new financial backing for the first time in its young history.
On Monday, the league announced that Ilitch Companies and Kimber Sports Ventures have joined the PWHL as strategic partners, marking the first investors from outside the league since it was formed almost three years ago. The two groups joined the Mark Walter Group, operated by Mark and Kimbra Walter, which has been the main financial investor since the league’s inception.
The chairman of Kimber Sports Ventures is Larry Tanenbaum, also the chairman emeritus of Maple Leafs Sports & Entertainment, the parent company of the Toronto Maple Leafs, Toronto Raptors, Toronto FC and Toronto Argonauts. The organization’s most recent investment has come in the form of the WNBA’s Toronto Tempo, the league’s first Canadian franchise.
In a release, Tanenbaum stated that Kimber’s passion for the game pushed them to be involved with the league.
“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,” Tanenbaum said. “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. 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.”
Ilitch Companies is the parent company of Ilitch Sports + Entertainment, the ownership group behind the Detroit Red Wings and Detroit Tigers. CEO Chris Ilitch was one of the people who had a great influence on the PWHL, bringing a team to Detroit.
“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,” Ilitch said. “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. From supporting youth and amateur hockey for nearly 60 years to investing in the future of women’s professional hockey, we are proud to help advance the game at every level.”
The two new partners won’t have a say in league operations, as the PWHL Advisory Board and the Walters will still oversee the strategic direction for the league. The single-ownership operation has received plenty of scrutiny, especially this offseason, as Hilary Knight has now been traded to Detroit after signing with Las Vegas just the week before, as the PWHL allowed such a deal to happen.