The WNBA and NWSL welcomed some new high-profile owners on Monday, as Serena Williams and Sabrina Ionescu announced investments in the country’s leading pro women’s sports leagues.

Tennis icon Williams is purchasing a stake in the Toronto Tempo. There, the 23-time Grand Slam winner will subsequently weigh in on the 2026 WNBA expansion team's visual elements like jersey designs, merchandise deals, and more.

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"Serena is a champion," noted Tempo president Teresa Resch. "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."

Meanwhile, 2024 WNBA champion and Bay Area product Ionescu also padded her portfolio. Ionescu bought into 2024 NWSL addition Bay FC, where she’ll serve as an official commercial advisor.

"Sabrina is the ultimate innovator and creates new pathways for aspiring and current professional athletes," said team CEO Brady Stewart. "Adding her passion and vision to what we are building at Bay FC will allow us to further disrupt the sports landscape."

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Athlete investors lead the way in growing women's sports

Both current and retired athletes are increasingly buying into the business side of women’s sports. The list includes USWNT alums Julie Foudy, Mia Hamm, and Abby Wambach backing Angel City FC and WNBA legend Sue Bird buying into the Seattle Storm and Gotham FC.

Earlier this year, 2024 WNBA Rookie of the Year Caitlin Clark threw her support behind Cincinnati’s recent NWSL expansion bid.

"This moment is not just about basketball," said Williams. "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."

"I whole-heartedly understand how important investment really is and obviously you can talk about it and be about it, but you really have to want to be committed to it and invest to be able to see what you believe in come to light," echoed Ionescu.

Ownership doesn't only keep legends in the game. It also proves that women’s sports are a booming business.

"It hasn't happened overnight for us. It's been years and years for us of athletes kicking down the door, voice what it is that they want to see. It's taken investment, and now expansion," added Ionescu.

"To see it now in real-time — viewership, attendance, sponsorships — everything is at an all-time high."

The NWSL is changing up its athlete acquisition process, with the league announcing on Wednesday that it will replace the CBA-eliminated draft with a pair of player combines starting this December.

Dividing prospects into two groups — adults and college-aged (U18-23) and youth (U13-17) — the three-day programs will showcase player talent and allow clubs to sign standouts as free agents.  

To maintain competitive balance across the NWSL and set incoming 2026 expansion teams Boston Legacy FC and Denver Summit FC up for success, the league already revised several roster-building mechanisms, including adopting a new allocation money structure as well as intra-league loans.

Like the abolishment of the draft and the new mechanism requiring athletes to acquiesce to their own trades, the new NWSL combines will give players more freedom over their careers while also better aligning the growing US league with global soccer standards.

"As the women's soccer landscape continues to rapidly evolve, a Combine is a strategic platform that will allow us to support NWSL clubs in early talent evaluation and provide players with exposure to a professional environment," said league director of youth development Karla Thompson in Wednesday's statement.

"This initiative is about widening the lens...and ensuring that talent, wherever it resides, has a continued pathway to our league."

Despite falling from the playoffs on Wednesday night, Golden State Valkyries head coach Natalie Nakase is still ending her season on a win, with the WNBA naming the first-year expansion team sideline boss the 2025 Coach of the Year this week.

Nakase picked up 53 out of the sports media panel's 72 votes to take the title, with fellow sideline rookie Karl Smesko (Atlanta Dream) trailing with 15 votes while veteran leaders Becky Hammon (Las Vegas Aces) and Cheryl Reeve (Minnesota Lynx) tied for third place with two votes apiece.

"What this does, is it reflects on [our] whole organization," said Nakase, sharing credit with her team and staff. "Without [the players], we wouldn't have had a winning season and we wouldn't be where I am today now."

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Golden State made WNBA expansion history under Nakase

In leading Golden State to a 23-21 regular season — a league record for wins by an expansion team in their first campaign — Nakase also minted the Valkyries as the first-ever expansion franchise to make the WNBA Playoffs in their debut season.

That success came from the team's strong defense, as the Valkyries held opponents to a league-wide low in both points per game (76.3) and field goal percentage (40.5%) on the year.

Before joining the Valkyries, Nakase served as an assistant coach in Las Vegas, helping guide the Aces to back-to-back championships in 2022 and 2023.

"Natalie has been a fierce leader from the very moment she was announced as head coach," said Golden State GM Ohemaa Nyanin. "Her core philosophy of connectivity and emphasis on high character has created an environment where everyone can thrive. Her unique approach to leadership and ability to hold players accountable with care while staying true to her values has been remarkable."

"I love playing for a fiery coach who always wants to win and believes in her players so much," said Valkyries — and former Aces — guard Kate Martin.

The new WNBA home-away-home first-round format has upped the dramatics in the 2025 Playoffs, as multiple home-court upsets have forced Game 3 deciders this week.

The No. 6 Indiana Fever's Game 2 win over No. 3 Atlanta set up Thursday's elimination game, with the injury-riddled Fever taking down the Dream 77-60 on Tuesday to keep their playoff dreams alive.

The No. 7 Seattle Storm also earned themselves a Game 3, facing No. 2 Las Vegas in Thursday's nightcap after snapping the Aces' 17-game winning streak in Tuesday's 86-83 Game 2 shocker.

Indiana and Seattle remain the series' underdogs, ceding home-court advantage as Atlanta aims to build on their first playoff win since 2016 while Las Vegas shoots for a third title in four years.

"Our backs were definitely against the wall in this, and we know that we've just been through so much this season," Fever center Aliyah Boston said postgame. "Coming out with this win and then giving ourselves another chance in Game 3, emotions are high."

How to watch Game 3 action in the 2025 WNBA Playoffs

The first round's Game 3 finales begin with two winner-take-all matchups on Thursday night, beginning when the No. 6 Indiana Fever tackles the No. 3 Atlanta Dream at 7:30 PM ET on ESPN2.

Shortly afterward, the No. 6 Seattle Storm will take on the No. 2 Las Vegas Aces, also airing live on ESPN2.

The No. 1 Minnesota Lynx became the first WNBA team to punch their ticket to the 2025 semifinals with a dramatic come-from-behind win on Wednesday night, fighting back from a 17-point deficit to sneak past the No. 8 Golden State Valkyries 75-74 and sweep their first-round playoffs series.

Bolstered by a strong crowd traveling down to San Jose for the relocated home matchup, the Valkyries broke out into an early lead, but the 2025 expansion side couldn't hang on in the final seconds as the top-seeded Lynx rallied.

"I am just so proud of our effort," Minnesota forward Napheesa Collier said postgame. "I think it shows the grit and the resilience that this team has and what we've been talking about for two years."

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The Lynx secured the only sweep in this year's best-of-three opening postseason round, with every other series moving to a Game 3 decider.

"The games that we've watched demonstrate that level of desperation for teams in elimination games," Minnesota head coach Cheryl Reeve reflected.

How to watch the Minnesota Lynx in the 2025 WNBA semifinals

The No. 1 Minnesota Lynx will next face the lowest seed to advance past this week's first round, with Thursday and Friday Game 3 action determining their opponent.

The 2025 WNBA semifinals will then tip off on Sunday, with live coverage airing on ESPN platforms.