Sports
Women’s Tennis Gets $150 Million Investment From CVC Capital
- Investor has struck deals in rugby, football and volleyball
- Money to be used to raise WTA profile and prize money
Daria Gavrilova meets Serena Williams at the net following a match in Melbourne, Australia.
Photographer: Jack Thomas/Getty ImagesCVC Capital Partners is adding yet another sport to its portfolio with a minority stake in Women’s Tennis Association.
The WTA announced on Tuesday that the private equity firm will be its commercial partner and invest in areas like providing fans with more access to the sport, player profiles and digital platforms. CVC will invest $150 million for a 20% stake in a new vehicle called WTA Ventures, a CVC spokesman said.