PWHL Secures Future
Professional Women's Hockey League Secures Major Strategic Investments, Signaling Strong Future Growth
Key Points
PWHL advisory board member Stan Kasten told The Associated Press that the investment is “the clearest signal of validation” and that it represents “much more than just them writing a check,” adding that the league is adding investors “well ahead of schedule” as it enters Season 4 and builds on momentum from the Milan Cortina Games.
Ilitch Companies CEO Christopher Ilitch emphasized the group’s broader hockey roots in his statement, saying the organization has supported youth and amateur hockey for “nearly 60 years” before “investing in the future of women’s professional hockey.”
The Detroit News reported that PWHL Detroit will begin play this fall at Little Caesars Arena and noted the league has already moved beyond its 2023 founding/2024 launch timeline, with “four expansion franchises to start play in 2026.”
Sportico reported that the new capital is “not earmarked for anything specific,” and quoted Kasten saying the firms’ “stature…experience and…connections, [and] networks” will be “vital” as the league grows—adding, “What they both said is just tell them anything we need.”
Sportico also detailed Kilmer Sports Ventures’ broader parent-company portfolio, saying Kilmer Group owns stakes including the WNBA’s Toronto Tempo and French Ligue 1 club AS Saint-Étienne (in addition to being tied to MLSE).
The Professional Women's Hockey League has landed its first outside investors, announcing that Detroit-based Ilitch Companies and Toronto-based Kilmer Sports Ventures have taken equity stakes in the league The Associated Press Sportico reported. The move marks a major shift for a league that has been fully backed by founders Mark and Kimbra Walter since its 2023 launch.
Kilmer Sports Ventures is injecting $100 million into the league, according to Sportico. The Walters will keep a majority stake and maintain centralized governance, meaning neither new partner owns a standalone franchise — they hold equity in the league itself.
Kasten Calls Investment 'Clearest Signal of Validation'
PWHL advisory board member Stan Kasten told The Associated Press the deals are "the clearest signal of validation yet" and "much more than just them writing a check." Kasten added that the league is bringing in investors "well ahead of schedule" as it heads into Season 4. He said the new partners' "stature, experience, and connections" will be "vital" to the league's growth.
Kasten also noted that the $100 million from Kilmer is "not earmarked for anything specific," according to Sportico. He said both firms essentially told the league to "just tell them anything we need." That kind of open-ended support, he argued, gives the PWHL a flexible financial cushion as it expands to 12 teams.
PWHL Detroit to Play at Little Caesars Arena This Fall
Ilitch Companies owns the Detroit Red Wings and Detroit Tigers and has backed youth and amateur hockey for "nearly 60 years," CEO Christopher Ilitch said in a statement. The company's investment will directly support PWHL Detroit, which begins play at Little Caesars Arena this fall, according to The Detroit News.
Playing at an NHL-caliber arena gives the new Detroit franchise immediate access to a top-tier facility and the Red Wings' existing fan base. The league currently has four expansion franchises set to start play in 2026, The Detroit News reported. Ilitch framed the move as a chance to "broaden the reach" of women's hockey and "create pathways for these incredible athletes."
Tanenbaum's Kilmer Group Brings a Global Sports Portfolio
Kilmer Sports Ventures is led by Larry Tanenbaum, who also chairs Maple Leaf Sports and Entertainment — the parent company of the Toronto Maple Leafs and Raptors. Kilmer Group's broader portfolio includes the WNBA's Toronto Tempo and French soccer club AS Saint-Étienne, according to Sportico.
CBC reported the $100 million investment makes Kilmer a significant equity partner in the league. Tanenbaum's deep ties across the NHL, NBA, and now WNBA could open doors for cross-promotion and broadcasting deals that were previously out of reach for women's hockey.
Olympic Momentum and Rapid Expansion Fuel the Timing
The PWHL launched its first season on January 1, 2024, with six teams under a single-owner model. By 2026, it has grown to 12 teams. The Globe and Mail noted the announcement lands just months after the Milan Cortina Winter Olympics, where women's hockey drew record global viewership.
The league went from six teams at launch to 12 in roughly two years — a pace Kasten called "well ahead of schedule." The Walters retain majority control, keeping the centralized structure that separates the PWHL from the fragmented ownership models that hurt earlier women's leagues like the CWHL and PHF.
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