WTA, CVC Partner To Support Women’s Tennis
The Women’s Tennis Association (WTA) announced they have entered into a strategic partnership indirectly with funds managed by CVC Capital Partners (CVC), to build upon the strong legacy the WTA has established over the last 50 years.
The partnership’s objective is to further elevate the profile of women’s tennis and to accelerate commercial growth for the benefit of the fans, players, tournaments and other stakeholders in the game.
Commenting on the partnership, WTA’s chairman and CEO, Steve Simon said he is 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,” said Simon.
In 2023, CVC will be WTA’s commercial partner, investing capital and acting as a catalyst to drive growth of the sport by providing fans with more access to the sport, investing behind the tour brands, building the player profiles, and investing in digital platforms and commercial capabilities.
The WTA will continue to own the majority interest in the partnership and retain full regulatory and sporting responsibility for the women’s game.
CVC’s senior managing director in the media & entertainment team, Gemma Wright said that tennis is the number 1 professional women’s sport in the world, with a huge fan base and commercial opportunity.
“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.”
“We could not be more excited to be supporting women’s tennis and look forward to working closely together with the WTA to grow the sport globally, in collaboration with the players, tournaments and other stakeholders in the sport,” said Wright.
CVC brings 25 years of experience investing in sports to this new partnership, with former and current investments in Formula 1, Moto GP, Rugby and more.
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 accelerated commercial growth of the sport.
This WTA and CVC partnership has the backing of the players and tournaments, with critical changes to the tour calendar planned that will make it easier for fans to follow their favorite players through the year.
Commenting on players, WTA’s World No.1 player, Iga Swiatek said she is proud to be a part of the WTA, as they are committed to innovating the sport, investing in the players, and promoting them 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,” said Swiatek.
This announcement comes after Morgan Stanley and the WTA announced a new multi-year global partnership.