Serena Williams has taken an ownership position in the Toronto Tempo, the WNBA's first franchise outside the United States, the team announced Monday. Financial terms were not disclosed. The Tempo begins play in 2026.
Williams joins a group led by Larry Tanenbaum, chairman of Maple Leaf Sports & Entertainment, which operates the Raptors, Maple Leafs, and Toronto FC. The franchise paid a $115 million expansion fee to the WNBA in May 2024, the league's highest to date. Williams will "play an active role in future jersey designs," according to the team's release—language that typically precedes apparel partnership announcements.
The move matters less for Williams' capital—she has invested in Angel City FC, the Miami Dolphins, and roughly 40 venture positions—and more for the brand alignment it creates. Nike has sponsored Williams since 2003. The Tempo has not yet announced a kit supplier, but MLSE's existing teams wear Nike (Raptors), Adidas (Maple Leafs), and Adidas (Toronto FC). Williams' involvement gives Nike a credible path to outbid Adidas for the Tempo contract, particularly if her design role translates to a signature line. The WNBA's current apparel deal with Nike runs through 2028 and does not mandate team-by-team exclusivity, leaving expansion franchises to negotiate independently.
Williams also brings sponsor optionality. She has active deals with Gatorade, American Express, and Audemars Piguet—three categories the WNBA has targeted for growth. Toronto is Canada's largest media market, with 6.5 million people in the metro area, and sponsors have historically paid a premium for English-language reach into Canadian broadcast. The Tempo's first jersey patch is expected to command $3-5 million annually, per league sources, roughly double what early WNBA expansion teams secured in smaller U.S. markets.
The franchise has already hired Teresa Resch as president, former vice president of basketball operations for Toronto's G League affiliate. The head coach hire is expected by summer 2025, with the front office prioritizing candidates with international experience. Canada Basketball has produced 15 active WNBA players, including Kia Nurse and Natalie Achonwa, both of whom have expressed interest in finishing their careers in Toronto. The Tempo will play at 8,400-seat Coca-Cola Coliseum, a venue MLSE renovated in 2018 for the Raptors' G League team.
Williams' involvement also clarifies succession planning inside women's sports investment. Her venture firm, Serena Ventures, has backed 10 women's sports properties since 2020, but most of those were early-stage startups. Taking an ownership stake in a WNBA franchise—where the product is proven and the broadcast deal is signed—suggests she and her advisors believe the league's next valuation cycle will reprice assets upward. The WNBA's most recent sale, Phoenix Mercury in 2023, valued that franchise at $90 million. Toronto's $115 million entry fee already reflects 28% appreciation in two years.
Watch for the kit supplier announcement in Q2 2025, likely tied to Williams' design deliverables. Also watch whether Williams attends the WNBA Draft in April, where Toronto holds the No. 1 pick by lottery odds. The franchise has already begun season-ticket deposits and cleared 5,000 accounts in the first 72 hours.
MLSE is expected to announce the Tempo's founding sponsors by late spring. Williams' Rolodex just became part of the pitch deck.
The takeaway
Williams' Tempo stake positions Nike to outbid Adidas for kit rights and imports her sponsor network into Canada's largest media market.
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