A year out from joining the WNBA, the Toronto Tempo have a new big name joining their ownership core. The expansion franchise announced Monday that tennis great Serena Williams will join the team as a minority owner.
In a video posted to social media, Williams — clad in the team’s colors — bounces a tennis ball on a tennis court, before the ball is replaced by a basketball. “New court, new game,” the video says.
Williams will join an ownership group led by Toronto billionaire Larry Tanenbaum, who owns the WNBA franchise through his company Kilmer Sports Ventures. Tanenbaum also holds a minority share in Maple Leaf Sports and Entertainment, which owns the NHL’s Toronto Maple Leafs and NBA’s Toronto Raptors.
In a statement, Williams said that she was “thrilled” to announce that she was joining the team’s ownership.
“This moment is not just about basketball; it is about showcasing the true value and potential of female athletes,” Williams said in the statement. “I have always said that women’s sports are an incredible investment opportunity. I am excited to partner with Larry and all of Canada in creating this new WNBA franchise and legacy.”
Per the statement, Williams’ ownership stake still needs final league approval before it becomes official.
The Tempo will be the third team where Williams holds minority ownership. Williams and her husband, Reddit co-founder Alexis Ohanian, were part of the founding ownership for NWSL club Angel City FC in 2020. Although Ohanian sold his controlling stake in the club to Disney CEO Bob Iger and his wife Willow Bay last summer, Williams and her two daughters, Olympia and Adira, still hold their shares.
Williams also has a stake in the Miami Dolphins. Williams and her sister, Venus, became part-owners of the Dolphins in 2009.
The Tempo was announced as the WNBA’s 14th team, and its first international expansion team, in December. The name was selected as part of a campaign that solicited feedback directly from fans.
“We want that to be the story of Canada,” Tempo president Teresa Resch told Yahoo Sports in December. “We want to be a story of our fans. We want to be a story of all the people, not just a group of creatives sitting in a room. So it was really important every step of the process that we included not just a lot of people, but people who care, people who are passionate [and] people who have different perspectives.”
The Tempo are set to begin play in 2026, joining the league alongside a Portland franchise that has not yet been named.