{"id":3793,"date":"2026-06-22T15:36:27","date_gmt":"2026-06-22T15:36:27","guid":{"rendered":"https:\/\/raleighmovingnews.com\/?p=3793"},"modified":"2026-06-22T15:36:27","modified_gmt":"2026-06-22T15:36:27","slug":"pwhl-seeks-to-sustain-momentum-of-fast-tracked-growth-by-adding-first-investors-ilitch-tanenbaum","status":"publish","type":"post","link":"https:\/\/raleighmovingnews.com\/?p=3793","title":{"rendered":"PWHL seeks to sustain momentum of fast-tracked growth by adding first investors: Ilitch, Tanenbaum"},"content":{"rendered":"
\n

The PWHL is taking on two prominent names in North American sports as its first two investors in reaching a major milestone in the privately-backed league\u2019s fast-rising trajectory, and representing yet another sign of women\u2019s hockey\u2019s promising future.<\/p>\n

Read more Mavericks are hiring national champ coach Dusty May away from Michigan, AP source says<\/a><\/p>\n

Coming on board as strategic partners are the Detroit-based Ilitch Companies, and the Larry Tanenbaum-backed Toronto-based Kilmer Sports Ventures, the league announced Monday.<\/p>\n

The two multi-sports-team-owning groups bring a wealth of financial backing, business connections and influence to a 12-team league that\u2019s doubled in size since being established in June of 2023.<\/p>\n

\u201cThis is the clearest signal of validation to the marketplace, to the players, to other owners, to media companies that we are cementing our reputation as one of the fastest-growing sports properties in the world,\u201d PWHL advisory board member Stan Kasten told The Associated Press.<\/p>\n

\u201cThese are serious, long-time experienced sports investors, and they are telling the world what they think about us,\u201d he added \u201cAnd that says much more than just them writing a check.\u201d<\/p>\n

With the additions, the PWHL\u2019s existing centralized structure will remain in place, headed by founder and primary financial backers Mark and Kimbra Walter. The Walters, together with the PWHL\u2019s advisory board, will continue overseeing operations, with the new partners providing expertise, relationships and perspective, the league said.<\/p>\n

\u201cKimbra 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,\u201d said Walter, who\u2019s holdings include baseball\u2019s Dodgers and the NBA Lakers.<\/p>\n

Post-Olympic boost continues<\/h3>\n

Kasten said adding investors is well ahead of schedule, and deemed timely entering Season 4 to support the momentum the PWHL gained coming out of the Milan Cortina Games.<\/p>\n

The league registered growth in nearly every metric last season, with U.S. numbers spiking further following the Hilary Knight-led Team USA\u2019s gold-medal victory in February. The league also expanded its North American footprint last month by adding teams in Detroit, Las Vegas, San Jose and Hamilton, Ontario.<\/p>\n

\u201cI want to hear the case for going slower, but I can\u2019t imagine it,\u201d Kasten said. \u201cThe reception of fans, of sponsors and other willing partners has allowed us to go faster.\u201d<\/p>\n

The Ilitch family\u2019s holdings include the NHL Red Wings and baseball\u2019s Tigers. The Ilitch\u2019s influence was apparent last week, with a wide range of company employees involved in Detroit hosting the PWHL\u2019s awards and draft.<\/p>\n

\u201cThe PWHL\u2019s rise has been one of the most compelling stories in professional sports, and we are proud to be part of that story,\u201d said company CEO Chris Ilitch. \u201cInvesting in the PWHL means an opportunity to broaden the game\u2019s reach, connect with new fans, and create pathways for athletes for generations to come.\u201d<\/p>\n

Read more Former Wimbledon champion Vondrousova suspended 4 years for refusing doping test<\/a><\/p>\n

Tanenbaum is chairman emeritus and maintains a personal stake in Maple Leaf Sports and Entertainment, whose properties include the NHL Maple Leafs and NBA\u2019s Raptors. Meantime, Kilmer Sports owns the WNBA\u2019s Toronto Tempo and France\u2019s AS Saint-Etienne soccer team.<\/p>\n

\u201cWhat Mark Walter and PWHL senior leadership have built so quickly is incredible, and we\u2019re honored to be part of this league and everything it stands for,\u201d Tanenbaum said.<\/p>\n

Salaries, for now, won\u2019t increase<\/h3>\n

The financial injection will not immediately translate into pay raises for players, because the PWHL has yet to turn a profit on the hundreds of millions of dollars Walter has already invested, Kasten said.<\/p>\n

\u201cWhen we are making money, that would be a great day for me and for the players,\u201d he said. \u201cWe\u2019re not there yet. I hope this gets us closer.\u201d<\/p>\n

The PWHL became the first professional women\u2019s league to open with a collective bargaining agreement in place, and running through 2031. Last season, 10 of 194 players had salaries topping $100,000, with the minimum at just over $37,000, according to the PWHL Players Association.<\/p>\n

The PWHL has grown from a six-team league that launched on Jan. 1, 2024, with Toronto hosting the inaugural game at the 2,500-seat Mattamy Athletic Centre. Within five months, Toronto had relocated to its current home, the 8,500-plus seat Coca-Cola Coliseum \u2014 and after enjoying a regular-season game sellout at the Maple Leafs\u2019 19,200-capacity home.<\/p>\n

Last season\u2019s average attendance of 9,304 represented a 28% jump over 2024-25. The league also grew its corporate partnership base to 81, up from just over 50 a year earlier.<\/p>\n

Still seeking U.S. broadcast partner<\/h3>\n

With 12 teams, the league is better positioned to attract a U.S. national broadcast partner. Last season, Scripps Sports aired numerous games, including the Walter Cup Finals, on ION, which reaches 126 million American households.<\/p>\n

The PWHL is also poised to improve its existing broadcast deals in Canada once its current contracts expire after next season. One possibility is enhancing its agreement with CBC, with the national broadcaster ending its lengthy history of airing NHL games.<\/p>\n

Kasten would only say, \u201cstay tuned.\u201d<\/p>\n

\u201cWe didn\u2019t know what we had,\u201d he added, reflecting on the PWHL\u2019s launch. <\/p>\n

\u201cWe didn\u2019t have venues. We didn\u2019t have cities. We didn\u2019t have logos,\u201d Kasten said. \u201cWe felt deeply that if we provided the environment for the greatest women\u2019s hockey players in the world to do what they do, that there would be a market for them. And that has been demonstrated in countless ways over and over.\u201d<\/p>\n

Read more Man, woman dead in Roanoke Rapids double shooting, police say<\/a><\/p>\n

___<\/p>\n

AP women\u2019s hockey: https:\/\/apnews.com\/hub\/womens-hockey<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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