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Monday, June 24, 2024

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.

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