Toronto expected to be announced as WNBA's latest expansion team

Kilmer Sports Inc., headed by billionaire Larry Tanenbaum, is expected to announce Toronto as the WNBA's latest expansion team on Thursday at 9 a.m. ET.

CBC Sports exclusively reported on May 10 that Toronto would be awarded an expansion franchise, set to begin play in May 2026.

Tanenbaum is a minority owner and chairman of sporting giant Maple Leafs Sports and Entertainment (MLSE) which owns the Maple Leafs, Raptors, TFC, Argos and Marlies.

The 79-year-old originally pursued the expansion team through MLSE, but it was turned down by other members of the board.

The WNBA recently expanded to 13 teams with San Francisco-based Golden State to begin play next year, and commissioner Cathy Engelbert said in April that Toronto was among the cities being considered as the 14th team.

A source told CBC Sports the team would play at Coca-Cola Coliseum, an 8,000-seat arena at Toronto's Exhibition Place which is home to the Marlies and where Toronto's Professional Women's Hockey League franchise played its first playoff series.

Kilmer Sports Inc. is a new arm of Tanenbaum's Kilmer Group, and it has hired former European soccer executive Ivan Gazidis to lead the new group. Teresa Resch is also part of the new organization after leaving her job with the Raptors as vice president of basketball operations.

WATCH | How sports fans are reacting to potential Toronto WNBA expansion team: