WTA Tour: Women’s tennis set for £125m investment from CVC
The WTA Tour is set for a £125 million investment after launching a partnership with private equity firm CVC Capital Partners.
The firm, an incredibly and increasingly active investor in sport, will take a one-fifth stake in a new company formed in combination with the Tour named WTA Ventures.
The WTA will retain full responsiblity for regulating and operating the sport.
But the newly-established partnership will oversee broadcasting and marketing operations.
“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,” Steve Simon, WTA chief executive, said.
“It is truly fitting that we are celebrating 50 years of the WTA alongside the introduction of this landmark and historic opportunity.”
CVC, formerly owners of Formula 1, have bought stakes in a number of high-level sporting properties over the last few years.
The private equity firm took a one-seventh stake in the Six Nations in 2021 alongside a number of other investments in rugby union, while it also now holds media rights deals with both La Liga and Ligue 1.
“Tennis is the number one professional women’s sport in the world, with a huge fan base and commercial opportunity,” said Gemma Wright, senior managing director in the media & entertainment team at CVC.
“WTA and CVC will work together to innovate, grow fan engagement and the revenues of the WTA, which we can then reinvest back into the game.”