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Toler was fired as vice president and general manager on October 4, 2019, after the Sparks were swept out of the WNBA semifinals during the 2019 WNBA Playoffs. The move also came after the revelation that Toler entered the Sparks' locker room following their Game 2 loss and gave an obscenity-laced speech that included the use of the "N-word".

On July 20, 2014, Toler was named as interim head coach following the firing of Carol Ross.

In November 1999 she retired as a player to become the general manager of the Los Angeles Sparks. Immediately after taking on a management role, she would assemble the Los Angeles Sparks roster that would become the championship team in 2001.

Having no viable domestic professional options, Toler began her professional career in Italy, playing two seasons for Montecchio and three for Pescara. She then played two seasons in Greece for Sporting Flash, and one in Israel for Ramat HaSharon. In 1997, she returned to the United States to play in the newly-organized WNBA.

Toler was a point guard allocated to the Los Angeles Sparks during the player initiation round in the 1997 WNBA draft. She is most commonly remembered as the first player to score a basket in the WNBA. She did so against the New York Liberty on June 21, 1997 19:01 hour at the Los Angeles Great Western Forum. Her shot was a side jumper. Toler also made the first free throw in the WNBA history.

Toler began her college career at San Diego State, sat out a year, and then transferred to Long Beach State, where she became an All-American basketball player. During her career Long Beach State made it to the Final Four twice, in 1987 and 1988. Toler was considered one of the best ever collegiate players under future Hall of Fame coach Joan Bonvicini. In 1995 she was inducted into the Long Beach State Athletic Hall of Fame.

Virginia Marlita "Penny" Toler (born March 24, 1966) is an American basketball executive and former player who served most recently as the general manager of the Los Angeles Sparks of the Women's National Basketball Association (WNBA). During her playing career, she was the first player to score in the WNBA.