Serena Williams joins ownership group of Toronto WNBA team

Serena Williams is adding a professional women’s basketball team to her growing portfolio of investments. The former World No. 1 was announced Monday as the newest member of the ownership group for the Toronto Tempo, which will begin play in the WNBA next year.

“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 statement, adding that she was thrilled not just to partner with “all of Canada” in launching the country’s first-ever WNBA team.

The Toronto Tempo is expected to be the 15th WNBA franchise, and will begin play next year. As part of her ownership stake, Williams will be tasked with “bringing the Tempo to life visually,” according to a media release, by playing a role in jersey design and merchandise concepts.

Canadian businessman Larry Tanenbaum’s Kilmer Sports Ventures leads the ownership team, and Tanenbaum lauded Williams as an “icon, a role model and a force for change in the world” in announcing her addition to the team.

“She’s earned every bit of her incredible success with hard work, tenacity and determination in the face of countless challenges,” he said. “She exemplifies the very best of what the Tempo stand for — we couldn’t be more honored to have Serena in our court.”

“Serena is a champion,” team president Listened. “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.”

The 23-time Grand Slam singles champion previously indicated her interest in adding to her ownership portfolio, which also includes stakes in the Miami Dolphins and the Angel City FC National Women’s Soccer League franchises, last year.

“I think the moment’s been happening, we just needed the right catalyst and the right people. … I think women’s sport is having a moment that it should’ve always had,” she said in a CNN interview.

“I feel like tennis has had its moment. It’s international and it’s huge and it’s always going to be there, and it’s time to lift up other sports. … Let’s put it on that platform that tennis is on.”