Today, the WTA (Women’s Tennis Association) and CVC announced a strategic relationship (CVC Capital Partners). The goal of this exciting new relationship is to raise the profile of women’s tennis further and to accelerate commercial growth for the benefit of fans, players, tournaments, and all stakeholders in the sport. It will build on the solid foundation the WTA has formed over the past 50 years.
The WTA, which Billie Jean King founded in 1973 on the tenet of equal opportunity, has developed tennis into the world’s top women’s professional sport, with a global audience of close to 900 million. Players on the Hologic WTA Tour compete in more than 70 tournaments annually on six continents, representing about 80 different countries. Players fight to win important tournament titles, WTA ranking points, and the opportunity to compete in the four Grand Slams and the WTA Finals. In only a few sports today, men and women participate side by side.
In addition to its present and past investments in Formula One, Moto GP, Rugby, the French Football League, La Liga, Volleyball, and IPL Cricket, CVC has 25 years of expertise investing in sports. The 25 local offices spread across Europe, Australasia, and the Americas that CVC brings access to also will be available to help the sport’s accelerated commercial growth.
From in 2023, CVC will serve as the WTA’s commercial partner, investing money indirectly through its managed funds and acting as a catalyst to promote the sport’s expansion. Increasing fan access to the sport, supporting the Tour brands, developing player and tournament profiles, and investing in digital platforms and commercial capabilities are some of the major areas of concentration. The WTA will continue to hold the majority stake in the partnership and will continue to be in charge of the women’s game’s rules and regulations.
The players and events support this WTA and CVC cooperation, and significant modifications to the Tour schedule are planned that will make it simpler for fans to follow their favorite players throughout the year. The goal is to significantly raise women’s tennis’s profile, worth, and prize money for the benefit of the athletes, competitions, and fans.
Steve Simon, WTA Chairman and CEO stated, “I am 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.” Simon added, “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.”
Iga Swiatek, WTA World No.1 stated, “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.”
Jessica Pegula, WTA World No.4 and member of the WTA Players’ Council remarked, “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 across the world and it’s great to have the investment and belief in the players and WTA product.”
Gavin Ziv, WTA Board Member and Chief Tournaments Officer at Tennis Canada stated, “This is great news for all of us committed to women’s tennis. The WTA is constantly expanding, and this investment means the opportunity for further global reach than ever before. We also want to make it easier for the fans to follow the players they love, and we believe we can bring in the necessary changes to make this all a possibility. It’s a win-win for all involved.”
Gemma Wright, Senior Managing Director in the Media & Entertainment team at CVC added, “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.”
