The WTA Tour and CVC Capital Partners have announced a groundbreaking partnership that will see CVC invest $150 million into women's tennis.
This move marks a significant step towards accelerating the growth of women's sports and elevating the profile of women's tennis. The partnership will result in the creation of a new company, WTA Ventures, with CVC taking a 20% stake. The WTA will retain full regulatory and sporting responsibility, ensuring that the sport's integrity and competitive balance remain intact.
With CVC's 25 years of experience investing in sports, including former and current investments in Formula One, Moto GP, Rugby, and other major sporting events, this partnership is set to bring a wealth of expertise and resources to the WTA.
The partnership also provides access to a broad international network of 25 local offices across Europe, Australasia, and the Americas, which will be available to support the growth of women's tennis.
This investment comes at a crucial time for women's tennis, as the sport has seen unprecedented growth in recent years, with more viewers tuning in and greater attention being paid to the accomplishments of female athletes. The partnership between the WTA and CVC is a clear signal of the sport's potential and the commitment to continue building on its momentum.
Some of the WTA stars spoke about the new partnership. Iga Swiatek, who is the world no. 1, and Jessica Pegula, world No.4 and member of the WTA Players’ Council, said:
“This is exactly what women’s tennis needs and I’m excited for what’s to come. For so long, we’ve been championing the sport for women across the world and it’s great to have the investment and belief in the players and WTA product.”
“I am proud to be a part of the WTA, as they are committed to innovating the sport, investing in the players, and promoting us all over the world. I’m inspired to be a part of the evolution of women’s tennis and building out the next 50 years of the WTA.”
WTA Chairman and CEO, Steve Simon also spoke about the new partnership between the WTA and CVC. He said:
“I am excited for the next chapter of the WTA whose future will continue to push the growth of women’s professional tennis. It is truly fitting that we are celebrating 50 years of the WTA alongside the introduction of this landmark and historic opportunity. This partnership with CVC brings experience, a network and capital to move our sport to the next level, embracing the ambition of our founding members, urging women’s tennis beyond its barriers and pioneering new standards for a more equitable and valuable sport.”
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