March 3, 2025
Why Serena Williams joined Toronto Tempo investment group now
Serena Williams: 'This moment is not just about basketball'
Former professional tennis player Serena Williams, one of the most celebrated female athletes of all time, is taking an ownership stake in the Toronto Tempo, the team announced Monday.
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She will join Larry Tanenbaum, chairman of Kilmer Sports Ventures, as an owner of Canada’s first WNBA team, which will begin play in May 2026.
“I am thrilled to announce my ownership role in the first Canadian WNBA team, the Toronto Tempo,” said Williams in the statement released by the team. “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. I am excited to partner with Larry and all of Canada in creating this new WNBA franchise and legacy.”
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Williams made her professional debut in Canada in 1995, a qualifier at a Tier 3 tournament just after turning 14.
Since her debut, she has claimed 73 WTA Tour-level singles titles, including 23 major women’s singles titles — the most in the Open Era.
She also won her first National Bank Open title – formerly known as the Rogers Cup – in 2001, and is a three-time champion of the Canadian tournament.
“Serena is a champion,” said Tempo president Teresa Resch in a statement released by the team. “She’s the greatest athlete of all time, and her impact on this team and this country is going to be incredible. She’s set the bar for women in sport, business and the world – and her commitment to using that success to create opportunities for other women is inspiring – we’re thrilled to be marking the lead-up to International Women’s Day with this announcement.”
In April of 2024, Williams told CNN’s Amanda Davies she was “super interested” in adding a WNBA team to her portfolio, stating that women’s sports are “an overly safe bet to me when it comes to investing.”
The team says that as part of her ownership role, Williams will contribute to “bringing the Tempo to life visually”, which will include playing an active role in future jersey designs, and will help to create unique merchandise collaborations according to the release.
Williams is no stranger to investment in sports, as in 2009 she and her sister Venus became the first Black women to own a minority stake in the NFL’s Miami Dolphins. In 2022, she co-invested in Angel City FC, the 11th franchised team in the NWSL, with her husband Alexis Ohanian. They also invested in the team’s name for their daughters, Olympia and Adira.
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The Williams sisters and Ohanian also share ownership of LAGC, the Los Angeles franchise of Tiger Woods’ and Rory McIlroy’s TGL golf league, which was confirmed as the league’s first team.
She is also the founder of Serena Ventures, a venture capital fund that invests in early-stage companies, with a focus on those that are founded by women and minorities. Established in 2017, firm raised $111M for its inaugural fund and has invested in more than 60 brands.
“Serena Williams is an icon, a role model and a force for change in the world” said Larry Tanenbaum, chairman of Kilmer Sports Ventures, in the statement. “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 – we couldn’t be more honoured to have Serena in our court.”
Williams’ investment in the team is pending final league approval.
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