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ARTICLE · 23 JULY 2026

PWHL And Outside Capital: Structure, Strategy, And What Comes Next

Gowling WLG
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The Professional Women's Hockey League (PWHL) secured its first outside investment of over $100 million USD from Kilmer Sports Ventures and Ilitch Companies in June 2026, marking one of the largest disclosed financings of a North American women's sports league. This strategic partnership brings established real-estate and operational expertise to support the league's expansion from eight to twelve teams while maintaining its single-entity structure. The investment provides crucial validation and financial s

CanadaCorporate/Commercial Law
Jennifer Bishop
Jennifer Bishop
Jordan Sweeney
Jordan Sweeney
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On June 22, 2026, Kilmer Sports Ventures and litch Companies became the first outside investment for the PWHL since its founding in 2023. Sportico reported that Kilmer invested $100 million USD, while litch’s contribution has not been disclosed.1 Kilmer Sports Ventures is a specialized sports and entertainment investment division of Kilmer Group, which is a Toronto-based private equity and holding firm. In nominal terms, the transaction exceeds the WNBA’s $75 million USD 2022 league-level raise and is comparable to League One Volleyball’s $100 Million USD 2024 round, making it one of the largest disclosed financings of a North American women’s sports league.

The transaction and its structure

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