The Women’s Tennis Association is securing a deal to sell a 20% stake to private equity firm CVC Capital Partners for $180 million, according to The Times. 

The potential sale follows talks between CVC Capital, the WTA, and the Association of Tennis Professionals for a $600 million merger of the top men’s and women’s professional tennis tours. 

However, the ATP has launched a new strategic plan that excludes deals with private equity firms. 

• No deal between the WTA and CVC Capital has been finalized.
• An agreement is expected to be confirmed at a WTA board meeting in September.
• It would see CVC Capital own 20% of the WTA’s commercial revenue. 

CVC Capital is also in talks to acquire a 25% stake in events promotion company Matchroom Sport in a deal that could fetch an asking price of $215 million. A sale could value Matchroom — which has gained notoriety through boxing — for as much as $862 million. 

Taking a Stand 

The WTA continues to support its players off the court. In November 2021, the organization threatened to cease operations in China in response to the then-disappearance of tennis player Peng Shuai, who accused a former official of sexual assault. 

The Chinese player retracted her claims and has since been in talks with Olympic officials.

In 2018, the WTA struck a 10-year deal to host its year-end finals in China through 2028. The country hasn’t hosted the WTA Shenzhen Open since 2020 due to COVID-related restrictions.

Six schools could follow USC and UCLA out of the Pac-12 as the college football landscape reshapes in real time.

Arizona, Arizona State, Colorado, and Utah are reportedly in discussions to join the Big 12. Oregon and Washington could also follow the same path. With USC and UCLA leaving for the Big Ten in 2024, a prospective mass exodus presents a dire scenario for the Pac-12.

• If all six schools depart, the Pac-12 would have only four full members remaining.
• 10 schools have reportedly reached out to Big Ten commissioner Kevin Warren since Thursday.
• The Pac-12 is reportedly exploring its options, which could include bringing in more teams or seeking a merger with the Big 12.

TV Ties

Conference realignment in the coming months will prove an especially high-stakes question for the Pac-12, whose deals with Fox and ESPN expire in 2024. 

In fiscal 2020, which reflects the last college football season unaffected by the pandemic, the Pac-12 distributed an average of $33.6 million to its member schools. The Big Ten, meanwhile, gave out $54.3 million to each of its members except Maryland and Rutgers, which joined in 2014.

The Big Ten’s next set of media deals were expected to top $1 billion prior to USC and UCLA joining the conference.

City Football Group’s soccer portfolio is now one club stronger.

The owner of Manchester City FC purchased a majority stake in Palermo FC on Monday. Terms of the deal weren’t disclosed, though some outlets report it could be around $13.6 million.

Former majority owner Hera Hora srl, which is co-owned by team president and chairman Dario Mirri, will retain a 20% stake. Mirri will stay on as the team’s president and chairman.

Abu Dhabi United Group owns roughly 78% of City Football Group, American investment firm Silver Lake owns around 10%, and China Media Capital and CITIC Capital own the remaining 12%.

• CFG also owns New York City FC, Melbourne FC, Yokohama F. Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu, Mumbai City FC, Lommel SK, and Troyes.
• City Football Group entered an agreement to complete the takeover of Brazilian club Bahia in April.
• In January, Club Bolivar joined CFG as the latter’s first partner club.

Palermo’s Promotions

After going bankrupt in 2019, Palermo began playing again as a phoenix club in Serie D — the country’s fourth division club. 

The Sicilian club played in Serie C during the 2021-22 season, winning promotion to Serie B — Italy’s second division — with last month’s playoff win against Padova.

“We agreed the investment before the end of the season, so we know we have a partner which is committed to growing Palermo the right way,” Mirri said about CFG.