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As the WNBA expands northward towards its first Canadian team, Serena Williams is named part owner of the Toronto Tempo.
Celebrities and professional athletes have stepped into the arena of team ownership. Many of them bring star power, business acumen, creativity, passion for sports, coupled with a monetary investment. This led to the announcement that the tennis star Serena Williams joining the ownership group of the WNBA’s newest franchise. The WNBA’s Toronto Tempo, will be led by Larry Tanenbaum’s Kilmer Sports Ventures and Maple Leaf Sports & Entertainment. But Williams isn’t just a figurehead in this venture. In addition to, she will be taking a unique creative role, ensuring her influence extends beyond the boardroom. KSV is known powerhouse in the sports industry, which also owns the NHL’s Toronto Maple Leafs and the NBA’s Toronto Raptors.
Serena Williams becomes the second member of her family to own a sports team after her daughter, Olympia. Olympia owns a stake in Angel City FC, a National Women’s Soccer League (NWSL) based in Los Angeles.
“I am thrilled to announce my ownership role in the first Canadian WNBA team, the Toronto Tempo,” Williams said. “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,” she added.
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Here are five other athletes who have purchased or joined ownership groups in various sports leagues:
- LeBron James – In 2021, he became a part owner of MLB’s Boston Red Sox through his investment group, Fenway Sports Group. James also owns a stake in Liverpool FC, one of the most successful soccer clubs in the English Premier League.
- Drew Brees – Former NFL quarterback Drew Brees joined the ownership group of the WNBA’s New Orleans Pelicans in 2022.
- Kevin Durant – NBA superstar Kevin Durant has diversified his portfolio by investing in women’s soccer. In 2020, he became a minority owner of the NWSL’s NJ/NY Gotham FC.
- David Beckham – Soccer icon David Beckham made headlines when he exercised an option in his MLS contract to purchase an expansion team. In 2018, Beckham launched Inter Miami CF, bringing Major League Soccer to South Florida.
- Magic Johnson – NBA Hall of Famer Magic Johnson has been a trailblazer in sports ownership. He was part of the ownership group that purchased the Los Angeles Dodgers in 2012 and has investments in the WNBA’s Los Angeles Sparks.
The trend of athletes and celebrities investing in sports teams is a testament to the growing intersection of sports, business, and culture. For stars like Serena Williams, it’s not just about financial returns—it’s about creating opportunities, inspiring future generations, and leaving lasting impacts on the sports they love.