Tennis legend Serena Williams joins WNBA expansion team Toronto Tempo as part owner
Majority owner Larry Tanenbaum says he 'couldn't be more honoured'
Call it the first free-agent signing in Toronto Tempo history.
Serena Williams, the 23-time major champion who is considered by some the greatest tennis player of all time, is joining Tempo ownership, the WNBA team announced on Monday.
"This moment is not just about basketball. It is about showcasing the true value and potential of female athletes. I have always said that women's sports are an incredible investment opportunity," Williams said in a press release.
Also part of the Tempo leadership group is president Teresa Resch, who left her previous gig with the Toronto Raptors on March 4, 2024.
Now, almost one year later, her newest co-worker is Serena Williams.
"It feels real now, doesn't it?" Resch, who was officially named president in May, told CBC Sports.
Williams joins Larry Tanenbaum, the chairman of Kilmer Sports Ventures, which controls the team, as Tempo owners.
Tanenbaum was previously a 25 per cent owner of Maple Leafs Sports and Entertainment, which owns the NHL's Maple Leafs, NBA's Raptors, CFL's Argos and MLS' Toronto FC. He has since sold some of his shares in the company but remains chairman of its board of governors for now.
"I am excited to partner with Larry and all of Canada in creating this new WNBA franchise and legacy," Williams said.
Resch said Williams "is the first of multiple owners" the Tempo will introduce in lead-up to tip-off in 2026.
Tanenbaum said the team "couldn't be more honoured" to welcome Williams.
"Serena Williams is an icon, a role model and a force for change in the world. She's earned every bit of her incredible success with hard work, tenacity and determination in the face of countless challenges. She exemplifies the very best of what the Tempo stand for," he said.
Williams "will contribute to bringing the Tempo to life visually," the team said, including input on jersey design and merchandise partnerships.
The 43-year-old made her professional tennis debut in Canada in 1995 en route to her record-setting career. She won the WTA's Canadian Open, which was previously known as the Rogers Cup, three times and appeared in two other finals.
Her 23 women's singles Grand Slam titles are the most of any player in the Open Era.
WATCH | Tempo president explains meaning of franchise name:
"When you're building a sports team, you always want to build an environment surrounded by greatness. And obviously, Serena exemplifies that," Resch said.
Williams is also a founding owner of the National Women's Soccer League's Angel City FC and she holds minority stakes in the NFL's Miami Dolphins as well as TGL's Los Angeles Golf Club, the virtual golf league headed by PGA Tour stars Tiger Woods and Rory McIlroy.
She was recently spotted next to Tanenbaum at a TGL match in Palm Beach Gardens, Fla.
Resch said the Tempo's partnership began when Williams approached the league about potential investment opportunities. From there, Toronto seemed like a natural fit.
"I think the opportunity is great here in Toronto. We, the Tempo, have something very exciting going forward. Being the first international team, Serena is a very global individual. She travels often as well as having the entire country [in the Tempo market]. So she thought it was a great business opportunity," Resch said.
Now, Williams will return north of the border to help usher in the lone WNBA team located outside of the United States.
One of her first jobs may be recruiting free agents to join her in Toronto.
The team recently named three-time WNBA champion Monica Wright Rogers as its general manager. At her introductory press conference, Wright Rogers spoke about the historically great free-agent class set to hit the market next off-season.
It is not hard to see how Williams could help lure top talent to the Tempo.
"She's a proven winner at the highest level and incredible competitor. And what she's also done is she's proven she's an incredible businesswoman, and also someone who elevates women, especially marginalized women, through a lot of the actions that she's taken already," Resch said.
WATCH | Wright Rogers talks goals for 2026 season:
"So we're looking forward to her continuing to do that with the Tempo."
Williams's ownership stake is still pending final league approval, the Tempo said.
Still, a group led by Tempo chief marketing officer Whitney Bell travelled to meet Williams and arrange a photo shoot in which Williams donned the team's merchandise, which was released in January.
Though Resch wasn't there, she has had the opportunity to speak to Williams.
"It was incredible, right? You meet one of your heroes. It was funny though, because we're actually peers. Like we're exactly the same age," the 43-year-old Resch said.
"It was incredible conversation just to be able to kind of share my story with her. And then also to just understand where her interests lie, what she's interested in with this team specifically, some of the questions she has."
The Tempo will begin play out of Coca-Cola Coliseum in the 2026 season with some home games expected to be played in Vancouver and Montreal, too.
Resch said ticket deposits will be converted to season seats during this summer.
Meanwhile, Wright Rogers has already begun putting together her strategy for assembling the basketball team itself.
Now, throughout every twist and turn, Williams will be there too.
"Day 1 of many days," Resch said. "It's not a sponsorship deal. This is an ownership deal, so she's part of this for the long haul. We're excited to work with her and her team and really elevate the Tempo."
