Billionaire Larry Tanenbaum revives efforts to bring WNBA to Toronto
The GIST: Canadian billionaire Larry Tanenbaum is reportedly working to bring a WNBA franchise to Toronto after previous efforts stalled last year. Tanenbaum is chairman of the Maple Leafs Sports and Entertainment (MLSE) sports group — owner of Toronto’s NHL, NBA, and MLS franchises — and is hoping to add women’s basketball to his sports portfolio. This that new Toronto.
The details: Per a CBC report, Tanenbaum wants to acquire the new franchise through his holding company, the Kilmer Group, and is expected to meet with WNBA leadership soon. If Tanenbaum succeeds, he will likely propose 8K-seater Coca-Cola Coliseum as the WNBA team’s home venue, which currently hosts MLSE–owned men’s minor league hockey team, the Toronto Marlies.
The backstory: There’s a long history of WNBA talks up north, but the first major step was last May’s WNBA preseason game in front of a sold-out crowd at the NBA’s Toronto Raptors’ Scotiabank Arena. At the time, league commissioner Cathy Engelbert confirmed that Toronto was on a shortlist of potential expansion sites, but the city surprisingly withdrew from the running last October.
- It was later revealed that Toronto pulled out because Rogers Communications chair Edward Rogers voted against it — even though an internal report showed MLSE favored the notion, as did Tanenbaum. But Rogers Communications and Bell Communications each own a 37.5% stake in MLSE, while Tanenbaum only owns 25%. Money talks.
Zooming out: If Toronto revives its bid, the Canadian city will still have to compete with other markets like Denver and Portland, an expected favorite if it also rekindles interest. There’s definitely an appetite for women’s sports in Toronto, but cross-border complications like travel and tax rates might make an American city more appealing.
- Toronto does have a renewed edge after landing PWHL Toronto, the city’s first pro women’s sports team, which also recently sold out Scotiabank. And if it’s worth it for major men’s leagues (and the PWHL) to have a Toronto outfit, it could be worth it for the W. Something to think aboat.
