Billionaire Larry Tanenbaum Splashed $65 Million More Than Golden State Valkyries, Making Toronto First Non-American-Based WNBA Team

The WNBA is expanding its dominance. The league started in 1997 and has since then come a long way. While the first WNBA finale streamed on only NBC, the WNBA today has a host of channels that bid to secure the streaming rights. The WNBA Finale series last year had a record average viewership of 728,000 on ESPN. Given the popularity it is amassing, it has now added another team to its list.

Similarly, while the first season saw only 8 franchises, the number has now grown to 14. The most recent one being in Toronto, marking it as the first franchise to be outside the USA. And its owner Larry Tanenbaum bagged what he had been waiting for quite some time, and did so at a scale that was twice more than his competitors- the Golden State Valkyries.

Larry Tanenbaum spends $65 million more than its American competitors

The 14th franchise was most recently announced when the billionaire Larry Tanenbaum and his company Kilmer Sports Inc. paid a whopping $115 million for the latest team. The WNBA commissioner Cathy Engelbert reflected on the advantage of expanding internationally. As per the Sporting News, Engelbert stated, “It helps us reach new audiences and bring in new partners. The thing I love about going to another country is that the young girls and boys get to see professional basketball for women is important, too.”

The $115 paid by Tanenbaum only goes to show how much money a WNBA team can help its owners make. It is around $65 million more than what the 13th team awarded to Golden State Valkyries.

The Warriors paid a decent $50 million to secure the expansion team. The team will ply their trade in San Francisco’s Chase Center and the headquarters will be in Warriors’ Oakland Facility. The same center was the headquarters for the Warriors from 1997 to 2019. The team is set to begin their play from 2025 onwards by the name of Golden State Valkyries.

Both the Toronto and San Francisco Bay Area teams will be operational soon

The WNBA is minting money which can be attested by the fact that at least half of the 12 WNBA teams are currently owned by NBA owners. Plus, the San Francisco Bay Area team has its roots in the NBA which will give them an advantage when they step in the 2025 WNBA. The Warriors being the most valuable franchise is a testament to the fact that the owners know their business.

Meanwhile, the Toronto team will be the first women’s basketball team from Canada. This will certainly help the WNBA make lucrative money since basketball is quite popular in America’s neighbor, but they don’t have a team. As per The Sporting News, this team will start participating in the WNBA in 2026. The home court for the Toronto team will be Coca-Cola Coliseum, which is home to the ice hockey team, Toronto Marlies, which plays in the American Hockey League.

Though Tanenbaum has invested more than what the Warriors did for the WNBA, the billionaire must be clear on his business strategies. And how he will take the team to new heights in Canada and help spread the balling roots in America’s neighbor country.