CVC (CVC Capital Partners), continues to invest money in the world of sports. After having made investments in football (LaLiga and Ligue 1), Moto GP, Rugby, Cricket or Volleyball, the British investment fund has landed in tennis with the aim of promoting the WTAwhich has announced this agreement with the approval of the players and the tournaments, since it will mean an injection of capital that will improve conditions and will also try to promote a product that, according to the WTA itself, is seen by more than 900 million people around the world .
This new partnership will build on the strong legacy that the WTA has established over the past 50 years, with the goal of further raising the profile of women’s tennis and accelerating business growth for the benefit of fans, players, tournaments and other stakeholders. in the game. According to SkySports, the WTA has sold a 20% stake to CVC in an agreement valued at approximately $750 million and where the investment fund has also committed to make an initial investment of $150 million to ensure major improvements from the start. start.
However, the WTA has ensured that it will continue to own the majority stake in the association and retain all regulatory and sporting responsibility for the women’s game. He further states that: “This partnership is supported by the players and the tournaments, with critical changes planned to the tour schedule that will make it easier for fans to follow their favorite players throughout the year. The ambition is to materially grow women’s tennis (its profile, value and prize money) for the benefit of the players, the tournaments and their fans.
THE ILLUSION OF THE PLAYERS
This agreement has already provoked the first reactions and for the moment the players seem excited about what they consider a great advance. Iga Swiatek, current number 1 in the world, assures that she is happy with the arrival of the investment fund and believes that this will be very positive for the WTA. “I am proud to be a part of the WTA as they are committed to innovating the sport, investing in players and promoting us around the world. I am inspired to be part of the evolution of women’s tennis and build the next 50 years of the WTA”, explained the Pole.
These words were also joined by Jessica Pegula, who believes that an agreement with these characteristics is just what the highest body in women’s tennis needed to make the leap forward that it had been asking for years. “This is exactly what women’s tennis needs and I’m excited for what’s to come. For so long we’ve been championing the sport for women around the world and it’s great to have the investment and confidence in the players and the team.” product of the WTA”, commented the American.
For his part, Steve Simon, president and director of the WTA, was also pleased to have reached this agreement, as he assures that this new chapter will be very beneficial for tennis: “I am excited for the next chapter of the WTA, whose future will continue fueling the growth of women’s professional tennis.It is truly appropriate that we are celebrating 50 years of the WTA along with introducing this historic opportunity.This partnership with CVC brings experience, a network and capital to take our sport to the next level, embracing the ambition of our founding members, pushing women’s tennis beyond its barriers and pioneering new standards for a more equitable and valuable sport.”
Now, with the signing of this agreement, CVC is expected to assess the possible changes it can make to the WTA calendar so that the tour is more closely linked to the ATP and also introduce some new features, such as a ranking scoring system. different.