CVC Capital Partners moves into women’s tennis with £125m WTA deal
The Women’s Tennis Association (WTA) is close to confirming a £125m ($150m) investment from CVC Capital Partners, according to reports.
A deal would see prolific sports investors CVC take a 20 per cent stake in the WTA, which runs the main women’s tennis tour, reports Mark Kleinman for Sky News.
CVC and the WTA would also establish a new company to manage the tour’s broadcast and sponsorship rights.
Former Formula 1 owner CVC already has similar deals in place with Six Nations Rugby, the English Premiership and Spanish football’s LaLiga.
It is the latest example of private equity pouring into sport, with tennis among those at the forefront of investment.
Morning Wire revealed earlier this year that the International Tennis Federation was exploring a revamp of its Billie Jean King Cup competition.
The project would see a group led by Mark Walter, a business partner of Chelsea chairman Todd Boehly, invest in the tournament.
But the plans caused some concerns among tennis officials, having seen a similar venture around the Davis Cup terminated five years into a 25-year deal.
CVC’s deal with the WTA is said to have been two years in the making, and follows reports that it also looked at launching a new brand to merge aspects of the WTA Tour and its men’s counterpart, the ATP Tour.