• Loading stock data...
Friday, March 29, 2024
2024 Best Venues nominations are open now through April 8! Submit Now

WTA to Reportedly Sell Stake to CVC

  • No deal between the WTA and CVC Capital has been finalized.
  • It would see CVC Capital own 20% of the WTA’s commercial revenue.
Susan Mullane-USA TODAY Sports

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.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

March 22, 2024, Brooklyn, NY, USA; Northwestern Wildcats guard Brooks Barnhizer (13) and Northwestern Wildcats guard Boo Buie (0) react in overtime against the Florida Atlantic Owls in the first round of the 2024 NCAA Tournament at the Barclays Center.

‘An Expensive Game’: March Madness and NIL Collectives Are Intertwined

At schools nationwide, collectives are fueling NCAA tournament runs and vice versa.
Iowa’s Caitlin Clark (22) waits to be announced in the starting lineup against West Virginia in a NCAA Tournament round of 32 game Monday, March 25, 2024 at Carver-Hawkeye Arena in Iowa City, Iowa.

The Women’s Trading Card Market Is Overlooked. Can Caitlin Clark Change That?

Traditionally, women’s sports cards have been a marginal part of collectibles.
The Sports Illustrated cover signed by Derek Jeter and Alex Rodriguez, February 27, 2019, at Don & Charlie's, 7501 E. Camelback Road, Scottsdale. Don Charlie S

Everything You Need to Know About the Ongoing ‘Sports Illustrated’ Saga

Understanding the strange state of affairs for the nearly 70-year-old publication.
podcast thumbnail mobile
Front Office Sports Today

Why the Timberwolves Sale was Called Off

0:00
0:00

Featured Today

The Good, the Bad, and the Ugly: Inside the Big East’s Bizarre Online Subculture

Peeling back the curtain on the ‘phenomenally weird’ Big East online ecosystem.
Mar 21, 2024; Brooklyn, NY, USA; Stetson Hatters guard Stephan Swenson (30) reacts during team practice at Barclays Center.
March 22, 2024

First-Time NCAA Men’s Tourney Bids Could Be on the Verge of Extinction

Power and success are consolidating around the richest teams in college sports.
March 17, 2024

‘Everybody Was Under Suspicion’: The Day Selection Sunday Was Scooped

In 2016, the ‘Selection Show’ backfired when the bracket was leaked anonymously.
Sep 3, 2023; Seattle, Washington, USA; Orlando Pride forward Ally Watt (11) and Orlando Pride forward Julie Doyle (20) enter the stadium before the game against OL Reign at Lumen Field.
March 16, 2024

So Long, White Shorts: Here’s Why the NWSL’s Uniform Pivot Matters

There’s finally a growing trend to adapt women’s sports to women’s bodies.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
Spotify
Multiple - USA Careers

Planned Timberwolves, Lynx Sale Turns Bitter As Taylor Pulls Teams Off Market

The current majority owner claims that Rodriguez and Lore failed to meet the latest deadline.
March 20, 2024

A-Rod and Lore’s Timberwolves Ownership Plans Still on Track

The duo currently owns 40% of the NBA team and its WNBA counterpart.
March 28, 2024

Alex Rodriguez–Led Bid for Majority Control of Timberwolves Falls Through

Minnesota owner Glen Taylor said the team was no longer for sale.
Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

The remarkable growth of the #1 Discord sports server in the world.
Manchester United stadium Old Trafford as viewed from above.
March 19, 2024

Another Wall Street Giant Wants a Piece of Sports

The investment bank forms a new team devoted to sports deals.
March 4, 2024

Drake, LeBron James Make PGA Tour Investment

The rapper and NBA star will try to boost the PGA Tour, despite not having a strong association with golf.
Commanders
February 28, 2024

FedEx Field No Longer, Commanders’ Stadium Will Get New Name

The Commanders must stay in Landover through 2027.
Josh Harris
February 28, 2024

Josh Harris, David Blitzer Set to Part Ways with Steelers Stake

Harris’s purchase of the Commanders prevents him from keeping the Steelers’ stake.