Detroit — Ilitch Companies is adding to its sports portfolio.
Ilitch Companies, led by CEO Christopher Ilitch, has purchased an equity stake in the Professional Women’s Hockey League, Ilitch and the league announced Monday morning. The announcement comes as PWHL Detroit has joined the league as an expansion franchise and is set to start play this fall. PWHL Detroit will play at Little Caesars Arena.
Ilitch Companies and Kilmer Sports Ventures, which also has purchased an equity stake in the league, are the first two outside investors in the PWHL, which is entering its this season this fall.
“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,” Christopher Ilitch said in a statement Monday. “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.”
Ilitch Companies owns the Detroit Red Wings and Detroit Tigers. Kilmer Sports Ventures, meanwhile, is led by Larrry Tanenbaum, who is chairman emeritus of Maple Leaf Sports and Entertainment, parent company of the NHL’s Toronto Maple Leafs, the NBA’s Toronto Raptors and MLS’s Toronto FC.
PWHL was founded in 2023 with initial funding from Mark and Kimbra Walter. The league launched in 2024, and now has 12 teams in the United States and Canada, including four expansion franchises to start play in 2026.
“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, chairman and CEO of TWG Global, said in a statement Monday. “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.”
Mark and Kimrba Walter will continue to oversee league operations and strategic direction or the PWHL, which held its annual awards show and its draft at the Ilitch-owned Fox Theatre in Detroit last week.
Financial details of the ownership investments weren’t disclosed.
tpaul@detroitnews.com
@tonypaul1984
This article originally appeared on The Detroit News: Ilitch Companies buys equity stake in PWHL with Detroit joining league
Reporting by Tony Paul, The Detroit News / The Detroit News
USA TODAY Network via Reuters Connect
By Tony Paul, The Detroit News | USA TODAY Network
