Money talks

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.

The GIST: Financial services company Ally — a women’s sports sponsorship heavy-hitter — inked a multiyear deal with the two-time WNBA champion Las Vegas Aces yesterday, marking the brand’s first foray into the league. Ally CMO Andrea Brimmer and Aces president Nikki Fargas recently spoke with The GIST about why the partnership, as Fargas put it, “just aligned.”

The details: Through the deal, Ally becomes the first-ever retail banking sponsor of the Aces and the team’s official jersey patch sponsor. The agreement also brings Ally closer to its 50/50 Pledge goal, which Brimmer said the company hopes to achieve by EOY.

• Additionally, Ally will provide fan engagement opportunities at Aces games, including sweepstakes and theme nights, and assist the W team with various community outreach programs.

The ambassadors: Ally will also add Aces teammates Sydney Colson and Alysha Clark to Team Ally, an ambassador program for women athletes. Fargas explained that the pair was tapped because they’re already perfect teammates. “They play a role for a basketball team, but they are role models for our team, for our community... They are aligned with the future of what an ambassador should look like: utilizing their platform.”

The collaboration: Both Fargas and Brimmer — who met through the NFL’s Las Vegas Raiders’ president Sandra Douglas Morgan — stressed the importance of working with those who have shared values. “We believe in a lot of the same things, and our organizations do [too]. For us, that made this thing a no-brainer,” Brimmer said.

• She also noted the personal component to deal negotiation, where trust and value alignment comes into play. “A lot of deals are done because you personally hit it off with somebody and you know that they’re going to have your back and … go the extra mile for you…” Brimmer said, adding the pair "sealed the deal, as any two smart women do, over a good tequila."

Zooming out: Brimmer and Fargas’ camaraderie and shared values resulted in a partnership that benefits both organizations. It’s another example of women leaders connecting in the women’s sports space and recognizing how companies and clubs can work together for the benefit of all. Salud.