WTA has announced a new investment agreement with CVC Capital Partners for $149 million. CvC Capital is a private equity firm that previously owned Formula 1 and has also invested in rugby, cricket and French and Spanish soccer.
This is a strategic partnership and will see CVC secure a 20% stake in the newly formed WTA business entity. The partnership aims to generate better commercial growth in women’s tennis and raise its profile after a difficult period which saw the gap with the men’s Tour widening.
Along with missing stars like Serena Williams and Maria Shatrapova, the WTA tour’s relationship with its former main partner, China, should also be considered. Due of course to Peng Shuai’s issue, following her allegations against a Chinese official.
In a statement, WTA said about the deal: “Beginning in 2023, CVC will be WTA’s business partner, investing capital and serving as a catalyst to drive the growth of the sport. Key focus areas include providing fans with greater access to the sport, invest behind the Tour’s brands, build player profiles and invest in digital platforms and commercial capabilities.
The WTA will continue to own the majority stake in the partnership and retain full sporting and regulatory responsibility for the Women’s Tour.”
Iga Swiatek: “I know I did wrong at the Australian Open”
The world no.1 Iga Swiatek, said in a recent interview: “I’m not really focused on defending titles.
I feel like every year is a different story. There’s no point in dwelling on last year’s tournaments and thinking it’s the same story. It’s not, a lot can happen in a year. I just want to start this tournament like any other player, because that’s the reality.
There are so many games to win and so many hurdles to overcome that I just want to focus on the next step. I needed a break. I know I did poorly at the Australian Open, during my entire stay in Australia. Last season was weird, it can get a little messy in your head, so what I want is to get down to earth and work.
I thought I’d achieve some continuity over the years, I didn’t expect it to happen already in 2022. The results achieved surprised me, but I continued to work hard without thinking about it. I don’t want to cancel what happened last year but start thinking about the future.
Pressure? There are times when you can definitely feel the pressure, thinking that every player wants to play her best tennis when she faces you.”
