Kilmer Sports Ventures, the private investment firm led by Larry Tanenbaum, is joining the Professional Women’s Hockey League as a strategic partner and injecting $100 million into the burgeoning property, according to a person familiar with the matter. Ilitch Companies, the parent organization of the Detroit Red Wings and Tigers, also came aboard in the transaction, though it is unclear how much it is investing.
Financial terms, such as the PWHL’s valuation and the stake each company would receive, were not disclosed in the league’s announcement on Monday. This is the first time the PWHL, which is owned by Mark and Kimbra Walter through holding company TWG Global, has accepted outside capital.
The Canada-based Kilmer Sports Ventures is a division of the similarly named Kilmer Group, which owns stakes in the WNBA’s Toronto Tempo, French Ligue 1 club AS Saint-Étienne and Maple Leaf Sports & Entertainment. MLSE is the parent company of the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors, MLS’ Toronto FC and the CFL’s Toronto Argonauts, as well as several other franchises and their home venues.
Meanwhile, Ilitch Companies is based in Detroit and run by Chris Ilitch, the son of Little Caesars pizza chain founders Mike and Marian Ilitch. In addition to its NHL and MLB franchises, the company manages a slew of sports and entertainment venues across the region, including the Red Wings’ home at Little Caesars Arena.
