WTA Signs $149m Deal With CVC

WTA has announced a new investment agreement with CVC Capital Partners for $149 million. CvC Capital is a private equity firm that previously owned Formula 1 and has also invested in rugby, cricket and French and Spanish soccer.

This is a strategic partnership and will see CVC secure a 20% stake in the newly formed WTA business entity. The partnership aims to generate better commercial growth in women’s tennis and raise its profile after a difficult period which saw the gap with the men’s Tour widening.

Along with missing stars like Serena Williams and Maria Shatrapova, the WTA tour’s relationship with its former main partner, China, should also be considered. Due of course to Peng Shuai’s issue, following her allegations against a Chinese official.

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In a statement, WTA said about the deal: “Beginning in 2023, CVC will be WTA’s business partner, investing capital and serving as a catalyst to drive the growth of the sport. Key focus areas include providing fans with greater access to the sport, invest behind the Tour’s brands, build player profiles and invest in digital platforms and commercial capabilities.

The WTA will continue to own the majority stake in the partnership and retain full sporting and regulatory responsibility for the Women’s Tour.”

Source: Tennis World USA

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