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WTA Joins With CVC Capital Partners to Invest in Women’s Tennis

Last Updated: July 1, 2023
The venture will focus on audience development, enhancing the profiles of top women’s tennis players, and growing the game around the world.

The Women’s Tennis Association (WTA) and CVC Capital Partners are officially joining forces to accelerate women’s tennis. Announced Tuesday, the alliance will help advance the sport’s commercial growth for the prosperity of fans, players, tournament organizers, and other stakeholders. As it celebrates 50 years in operation, the Billie Jean King-founded organization’s primary mission remains to be the global leader in women’s professional sports.

“I am excited for the next chapter of the WTA, whose future will continue to push the growth of women’s professional tennis,” Steve Simon, WTA Chairman and CEO, said of the news. “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.”

Founded in 1981, CVC Capital Partners is a private equity firm with over $100 billion in assets currently under management.

Among the many objectives this union will target are giving supporters more access to tennis, developing a larger stake in the Tour brands, developing the profiles of more athletes and tournaments, and investing in digital platforms and commercial potential. The WTA will continue to own a majority interest in the venture, holding onto full regulatory and sporting responsibility to advance the women’s game.

This agreement has the backing of some of the current best in the game, too. Current WTA world No. 1 and three-time Grand Slam champion Iga Swiatek said: “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.”

This announcement follows a trend of meaningful investments geared toward women’s tennis, with CVC being the latest in a series of new capital partnerships for the WTA. Other groups the WTA have linked up with over the last two years are women’s health innovator Hologic as its global lead sponsor, Modern Health as its mental health partner, WHOOP for wearable device capabilities, and FanDuel as its authorized gaming operator.

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About The Author
Vinciane Ngomsi
Vinciane Ngomsi
Vinciane Ngomsi is a Staff Writer at Boardroom. She began her career in sports journalism with bylines at SB Nation, USA Today, and most recently Yahoo. She received a bachelor's degree in Political Science from Truman State University, and when she's not watching old clips of Serena Williams' best matches, she is likely perfecting her signature chocolate chip cookie recipe or preparing a traditional Cameroonian meal.