Serena Williams disclosed Monday she has acquired an equity position in the Toronto Tempo, the WNBA's first Canadian franchise set to begin play in 2026. The team declined to specify her percentage but confirmed she will advise on jersey design and sponsor selection. The league valued the expansion slot at approximately $115 million when it awarded the franchise in May 2024.
Williams joins a capital table anchored by Larry Tanenbaum's Kilmer Sports Ventures and a related entity to Maple Leaf Sports & Entertainment, which controls the NBA Raptors, NHL Maple Leafs, and MLS Toronto FC. The Tempo will play at Coca-Cola Coliseum, a 9,600-seat venue currently used by the AHL Toronto Marlies. The facility lacks the luxury infrastructure of MLSE's Scotiabank Arena but sits 3 kilometers east in a development zone the city has designated for mixed-use expansion. The franchise hired Teresa Resch, formerly of MLSE and TFC, as president in August.
The Williams commitment arrives as the WNBA negotiates a media-rights package that league sources expect will deliver between $200 million and $260 million annually starting in 2026, roughly triple the current deal. Toronto represents the league's first international market and its second expansion announcement in six months after awarding Golden State and Portland franchises earlier this year. Commissioner Cathy Engelbert has stated the league will add a 16th team by 2028, with Nashville, Philadelphia, and Denver conducting preliminary arena studies.
Williams now holds stakes in the NFL Miami Dolphins (acquired 2009), MLS Angel City FC (founding investor, 2020), and golf's TGL league alongside Tiger Woods. Her Serena Ventures portfolio has allocated to companies including Masterclass, Noom, and Propel, with an emphasis on female founders. The Tempo assignment gives her direct input on apparel; she will review Nike's initial uniform concepts before the franchise reveals its primary and alternate kits in early 2025. The team has scheduled a Toronto Fashion Week event in February where Williams is expected to appear alongside Creative Director TBA.
The franchise faces a narrow window to build revenue ahead of tip-off. The WNBA's collective bargaining agreement expires after the 2027 season, and player agents are already positioning for average salaries above $150,000, up from roughly $120,000 today. Toronto must assemble a competitive roster through the expansion draft—expected in December 2025—while securing local sponsorships in a market where the Raptors command the dominant share of basketball spending. Scotiabank, TD, and Tangerine have not yet committed to the Tempo, and the team has not announced a jersey-front partner. Bell Media holds regional broadcast rights to Raptors games but has not confirmed carriage plans for the Tempo.
Williams told the team's press release she was "inspired by the passion Toronto has for basketball" and sees the franchise as a platform to "champion the next generation of athletes." The statement did not address her involvement in personnel decisions. Resch said in the same release that Williams "brings an unmatched voice" to discussions with potential investors and brand partners. The franchise has not disclosed total capital raised or whether it plans a secondary offering before launch.
Watch for the Tempo's head-coach announcement, expected by March 2025, and the Nike kit unveiling in February. The franchise will also need to finalize its arena lease with the city and Coca-Cola Coliseum's operator; terms have not been made public. Williams is expected to attend the WNBA Draft in April 2026, when Toronto makes its first selection.
The takeaway
Williams adds brand voltage to a franchise that must quickly convert her visibility into local sponsorships before the 2026 expansion draft.
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