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Tennis legend Serena Williams is making another major move in the sports industry by joining the ownership group of the Toronto Tempo, the WNBA’s newest expansion franchise.

On Monday the team officially announced Williams' involvement, adding another high-profile name to its leadership.

Williams joins an ownership group led by Canadian billionaire Larry Tanenbaum, Chairman of Kilmer Sports Ventures. Tanenbaum also has a minority stake in Maple Leaf Sports and Entertainment, which owns the Toronto Raptors and Toronto Maple Leafs.

With this investment, Williams holds ownership stakes in three major professional sports teams.

The announcement was made through a video on social media featuring Williams dressed in the Tempo’s colors. In the video, she bounces a tennis ball before it transforms into a basketball, accompanied by the words, "New court, new game."

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Serena Williams Excited about Women's Sports

Williams expressed her enthusiasm for this new opportunity in a statement:

"This moment is not just about basketball; it is about showcasing the true value and potential of female athletes," Williams said. "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."

Her ownership stake is still pending final league approval before becoming official.

A Legacy of Sports Investments

Williams’ involvement with the Tempo adds to her growing sports investment portfolio. She and her husband, Reddit co-founder Alexis Ohanian, were among the founding owners of NWSL club Angel City FC in 2020.

Although Ohanian sold his controlling stake in Angel City FC to Disney CEO Bob Iger and his wife Willow Bay, Williams and her daughters, Olympia and Adira, retain their shares in the club.

Williams and her sister Venus have been minority owners of the NFL’s Miami Dolphins since 2009.

The Toronto Tempo was announced in December as the WNBA's 14th team and the league’s first international franchise.

The team's name was selected through fan engagement, highlighting the connection between the franchise and its community.

Tempo president Teresa Resch emphasized the importance of fan involvement:

"We want that to be the story of Canada. We want to be a story of our fans. We want to be a story of all the people, not just a group of creatives sitting in a room. So, it was really important every step of the process that we included not just a lot of people, but people who care, people who are passionate [and] people who have different perspectives."