Serena Williams Joins Forces with Raptors’ Owner to Launch Toronto’s WNBA Era

Tennis legend Serena Williams has acquired an ownership stake in the WNBA’s Toronto Tempo, becoming a co-owner of Canada’s first franchise in the league. Announced on March 3, 2025, just ahead of International Women’s Day, the move pairs the 23-time Grand Slam champion with Larry Tanenbaum, Chairman of Kilmer Sports Ventures and owner of the NBA’s Toronto Raptors. This partnership signals a major step forward for both the WNBA’s global expansion and the growing commercial viability of women’s sports.

Williams, who retired from professional tennis in 2022, framed her investment as part of a broader mission to elevate women’s athletics. “This isn’t just about basketball—it’s about proving the value and potential of female athletes,” she stated. “I’ve always believed women’s sports are one of the smartest investments you can make.” Her role extends beyond financial backing; Williams will actively collaborate on jersey designs, merchandise partnerships, and brand strategy, leveraging her experience as founder of the fashion label Serena and investor in Angel City FC (NWSL) and the NFL’s Miami Dolphins.

The Tempo, set to debut in 2026 as the WNBA’s 14th team and first outside the U.S., represents a full-circle moment for Williams. She launched her professional tennis career in Canada in 1995 at the Bell Challenge in Quebec, a springboard to her record 73 WTA titles. “Canada holds a special place in my journey,” she noted during the announcement.

The Toronto franchise, approved in May 2024, is a cornerstone of the league’s most aggressive growth phase in two decades. Alongside the Golden State Valkyries (debuting in 2025) and a Portland team (2026), the Tempo will play home games at Toronto’s 8,000-seat Coca-Cola Coliseum while hosting regular-season matches in Montreal and Vancouver to build a national fanbase.

A decade ago, WNBA franchises were valued at $10–20 million. Today, those numbers have skyrocketed, with Forbes reporting valuations as high as $150 million. This leap underscores the league’s rising prominence as a lucrative investment opportunity, attracting high-profile owners and corporate sponsors alike. The league’s appeal to sponsors has also reached new heights. For instance, Sephora Canada recently became the first founding partner of the Toronto Tempo, the WNBA’s first Canadian franchise. Such partnerships highlight the increasing willingness of brands to align with women’s sports, recognizing their cultural and economic impact.

Teresa Resch, President of Tempo Basketball Club, emphasized Williams’ symbolic and practical impact: “Serena transcends sport. Her presence accelerates our ability to attract talent, partnerships, and fans.” Williams’ involvement not only elevates the Tempo but also reinforces the broader narrative of women’s sports as a growing force in global athletics.

While the deal awaits final WNBA approval, the Tempo has already opened a season-ticket waitlist. Williams’ merchandise collaborations, expected by late 2025, aim to merge athletic performance with streetwear appeal—a formula that boosted Nike’s Serena line to $200 million in annual sales. Williams’ entry into WNBA ownership isn’t merely symbolic; it’s a strategic play that merges her unparalleled athletic legacy with the league’s commercial ascent. As Resch put it: “She’s the ultimate competitor. Now she’s bringing that fire to build something historic for the next generation.”

As 2025 unfolds, one thing is clear: The WNBA is no longer just a niche league—it is a cultural and economic powerhouse reshaping the landscape of professional sports. From Serena Williams’ ownership role to record-setting attendance figures, women’s basketball is proving that its time has truly arrived.