WTA: windfall for women’s tennis in the three-digit million range – CVC invests for a 20 percent share

“This partnership with CVC brings experience, a network and capital to take our sport to the next level, to push women’s tennis beyond its previous limits and to set new standards in sport,” commented WTA boss Steve Simon on the deal .

Due to the cancellation of tournaments in China and Hong Kong because of the open fate of the former professional player Peng Shuai, the organization, which comprises 70 events worldwide, has to cope with high revenue losses.

Market experts hope that the CVC expertise will result in significant increases in revenue for the marketing area and an even more professional presentation of tournaments and players in the media and social networks.

However, the primary goal of the new cooperation after an upcoming inventory and situation analysis is for the WTA to increase the prize money at its tournaments.

The gap in prize money is higher than it has been in 20 years

Although the success bonuses for men and women in the four Grand Slam tournaments (Melbourne, Paris, Wimbledon, New York) are identical, the WTA is still lagging behind its men’s counterpart ATP in the independent competitions.

According to calculations by the New York Times, the difference in prize money last year was 70 percent, the widest it has been in the past 20 years.

CVC is a powerful investor and a well-known figure in the sports business. The company, which manages around $100 billion, recently invested billions in the Spanish soccer championship and was previously one of the owners of Formula 1.

In recent weeks, CVC has also been under discussion as a potential buyer of shares in a subsidiary of the German Football League (DFL) for media rights.

(SID)