The Women’s Tennis Association (WTA) announced on Wednesday a long-term cooperation agreement with “Mercedes-Benz”, which will become the most financially impressive cooperation in women’s sports, with the German car manufacturer investing 500 million US dollars (427 million euros) over 10 years.
“Mercedes-Benz” will become a top-level partner of the WTA and allocate 50 million US dollars (43 million euros) to the tour annually.
The provided funding will help the WTA to equalize the prize fund in tournaments where both men and women play at the same time until 2027. On the other hand, by 2033, the WTA’s goal is to provide female tennis players with prize funds equivalent to men’s competitions in all tournaments.
Since the WTA was founded in 1973, equalizing men’s and women’s prize money has been one of the main goals of tour management.
Until now, the National Women’s Football League signed a four-year deal of 240 million dollars for media rights in 2023 in women’s sports, while the company “Nike” has invested 350 million dollars in various women’s football leagues.
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At the end of December, the WTA title sponsor contract concluded in 2022 with the medical technology company “Hologic”, which annually provided 20 million dollars for the tour, will expire. The WTA’s financial situation, which suffered after the decision to stop holding tournaments in China in 2021, was also improved by the agreement to allocate the hosting of the season-ending tournament to Saudi Arabia for three years.
Yelena Rybakina, the Kazakh tennis player who won the final tournament of the season in November, earned four million dollars, which is the largest cash prize in the history of women’s tennis.
Mercedes-Benz financially supported the Association of Tennis Professionals (ATP) for men from 1996 to 2008, and the company continues to be the official sponsor of the US Open. Several high-level tennis players are also ambassadors of the “Mercedes-Benz” brand.
According to business analysts, high-level women’s sports will generate $2.5 billion in revenue by 2025.
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