The WTA Tour has introduced a strategic partnership with CVC Capital Companions which can see the non-public fairness agency make investments $150 million (£125 million) into ladies’s tennis.
In return, CVC will take a 20% stake in a newly created firm with the working title of WTA Ventures.
The WTA will retain full regulatory and sporting duty.
Funding within the ladies’s recreation is far wanted, with prize cash persevering with to lag behind the lads’s ATP Tour.
The WTA’s funds suffered considerably when CEO Steve Simon suspended all tournaments in China and Hong Kong on the finish of 2021.
Peng Shuai’s allegations of sexual assault towards former Chinese language vice-premier Zhang Gaoli prompted the WTA to demand a clear investigation earlier than the tournaments might be reinstated.
Because it celebrates its fiftieth anniversary, the WTA is hoping the brand new partnership will enhance the profile of ladies’s tennis in addition to business development and the dimensions of broadcast offers.
“This partnership with CVC brings expertise, a community and capital to maneuver our sport to the subsequent stage, embracing the ambition of our founding members, urging ladies’s tennis past its limitations and pioneering new requirements for a extra equitable and precious sport,” Simon mentioned.
CVC beforehand loved a worthwhile affiliation with Method 1 and has just lately invested within the Six Nations, Premier Rugby, Spain’s La Liga and the reigning Indian Premier League champions the Gujarat Titans.
