As the WTA celebrates its 50th anniversary, the governing body of women’s tennis enters into a new phase by launching a commercial partnership with CVC Capital Partners with the goal of expanding the reach of the sport. The leading global alternative investment manager will contribute $150 million for a 20% stake in a newly-created company called WTA Ventures LLC.
Founded by Billie Jean King in 1973 on the principle of equal opportunity, the WTA has gone a long way in making tennis one of the few sports in which women and men compete on the same stage.