PWHL adds Kilmer Sports Ventures, Ilitch Companies as first outside investors

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Just one month after completing its third season, the Professional Women’s Hockey League has added two outside investors, the league announced Monday morning.

Kilmer Sports Ventures and Ilitch Companies have joined the PWHL as partners, becoming its first outside investors. Since the league was established in 2023, the league has operated under a single-entity ownership model, meaning Mark Walter — the billionaire owner of the Los Angeles Dodgers, Lakers and Sparks — and his wife, Kimbra, own the league and its 12 teams.

Kilmer Sports is led by businessman Larry Tanenbaum, who recently paid a $50 million expansion fee to bring the WNBA to Toronto with the Toronto Tempo. Ilitch Companies is the parent company of the NHL’s Detroit Red Wings and MLB’s Detroit Tigers.

Financial terms were not disclosed in the league’s announcement.

“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.”

According to the release, Mark and Kimbra Walter, together with the PWHL advisory board — which includes tennis legend Billie Jean King and her longtime partner Ilana Kloss — will continue to oversee league operations and strategic direction, while “benefiting from the expertise, relationships, and perspectives of two of the most respected ownership groups in professional sports.”

This story will be updated.

This article originally appeared in The Athletic.

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