Women’s tennis tour, WTA, in commercial partnership with CVC

The women’s professional tennis tour has launched a commercial enterprise with CVC Capital Partners to increase revenues for the sport. The global investment manager is contributing $150 million for a 20% stake in what will be known as WTA Ventures LLC. WTA Chairman and CEO Steve Simon says the goal is to grow the profile, value and prize money of women’s professional tennis. The new entity is separate from WTA Inc. WTA Ventures will manage all of the sport’s commercial activities. That includes rights for broadcast, data, gaming, sponsorship, licensing and NFTs.