Tennis legend Serena Williams joins WNBA expansion team Toronto Tempo as part owner

Serena Williams, who won 23 major championships over a 27-year tennis career, is joining Toronto 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 statement released by the expansion team.

Williams joins Larry Tanenbaum, the chairman of Kilmer Sports Ventures, as owners.

Tanenbaum was previously a 25 per cent owner of Maple Leafs Sports and Entertainment but has since sold some of his shares in the company that owns the NHL's Maple Leafs, NBA's Raptors, CFL's Argos and MLS FC.

"I am excited to partner with Larry and all of Canada in creating this new WNBA franchise and legacy," Williams 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.

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 stars Tiger Woods and Rory McIlroy.

She was recently spotted next to Tanenbaum at a TGL match in Palm Beach Gardens, Fla.

Now, she'll return north of the border to help usher in the lone WNBA team located outside of the United States.

"Serena is a champion," said Tempo president Teresa Resch. "She's the greatest athlete of all