In a landmark deal, the Premier Hockey Federation announced the largest one time investment in professional women’s hockey this week.
The PHF (formerly known as the National Women’s Hockey league, or NWHL) announced a commitment from its board of governors to “invest over $25 million in direct payments and benefits to its players over the next three years. The pledge includes more than $7.5 million in salary and benefits for the 2022-23 season. This represents the largest one-time independent investment in the history of professional women’s hockey and will provide more financial opportunities for athletes while directly enhancing the player experience” according to a statement posted on the league website.
Included in the investment is cash, full healthcare benefits, and a salary cap increase from $300K to $750K per team next year. Aside from the capital being invested into the league, the PHF also announced that players would be receiving 10% equity in each franchise which will be contributed to an investment pool benefiting players.
The deal is the first of its kind in women’s hockey and hopes to attract more players not only domestically, but also internationally as the league looks to establish itself as the premier destination for female hockey players world wide.
Professional women’s hockey has long been a fragmented sector with competing leagues popping up and fading away over the years. Unlike the WNBA which has the backing of deep-pocketed NBA owners and the full support of their male counterparts, women’s hockey has long been left twisting in the wind by the NHL.
The new deal promises not only to pay its players a livable wage and provide them with healthcare benefits, but will also see next season expand to 28 games, and provide players with access to better facilities, equipment, and more frequent practices.
Board of governors chairman John Boynton stated “On behalf of the Board of Governors we are proud to play a part in bringing women’s sports to the next level by investing in the PHF…We see the PHF as a platform to address the inequities that women athletes face. We also believe in the sustainability of our developing business model and embrace our responsibility to build a platform that grows this dynamic league to historic heights.”
The PHF took a massive step forward this season in terms of exposure, securing a broadcasting deal with ESPN in the US and TSN in Canada. On the merchandising and sponsorship side, the league also partnered with Warrior Hockey to provide equipment for players, and Upper Deck will be launching its first professional women’s hockey trading card set.
The league currently boasts 6 franchises, however plans for a 7th team debuting in Montreal have already leaked. While Quebec can expect a PHF in the not so distant future, rumours are currently swirling that they may not be the only expansion franchise the league sees in the coming seasons.
Boynton was quick to point out that while the investment is significant, the league is far from done: “I think we’re moving as fast as we possibly can, and it’s never fast enough…Our top priority is to increase compensation as quickly as we possibly can. So are we moving it up quickly? Yes. Are we finished moving it up? No.”
Fans can expect more details surrounding an additional expansion team at an undisclosed location in the coming months.