PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

CVC serves up women’s tennis deal

Funds managed by CVC Capital Partners have made a major investment in women’s tennis paying $150 million for a 20% stake in the Women’s Tennis Association’s new commercial venture, which will focus on increasing revenues for the sport.

Funds managed by CVC Capital Partners (CVC) have made a major investment in women’s tennis, paying $150 million for a 20% stake in the Women’s Tennis Association’s (WTA) new commercial venture, which will focus on increasing revenues for the sport.

The new venture, WTA Ventures LLC, will focus on providing fans with more access to the sport, investing behind the Tour brands, building player profiles, and investing in digital platforms and commercial capabilities. The WTA, which was founded in 1973 by Bille Jean King on the principle of equal opportunity, will continue to own the majority interest in the partnership and retain full regulatory and sporting responsibility for the women’s game. 

CVC brings 25 years of experience investing in sports to this new partnership, with former and current investments in Formula 1, Moto GP, Rugby, the French Football League, La Liga, Volleyball and IPL Cricket. CVC also brings access to a broad international network of 25 local offices across Europe, Australasia and the Americas, which will be available to support the commercial growth of the sport.

WTA Ventures has the backing of the players and tournaments, with critical changes to the Tour calendar planned to make it easier for fans to follow their favourite players through the year. 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured