PRIVATE EQUITY FIRM CVC Capital Partners would reportedly consider picking up a minority stake worth $600 million IF the men’s and women’s professional tennis tours were to be merged.
The ATP, WTA, the four Grand Slams and the International Tennis Federation run different parts of the game and calls for a unified body for the sport have grown stronger after it was ravaged by the shutdown due to the Covid-19 pandemic in 2020.
Reuters quotes ATP chief Andrea Gaudenzi as having said in March that a ‘T7 working group’ involving all the stakeholders had started work to examine areas such as a unified calendar, shared commercial offerings, sponsorships and TV deals.
The heads of the men’s and women’s bodies have welcomed talks of a merged organisation and Sky News reported on Monday that CVC, the former Formula One owners, were in advanced negotiations about an investment in a merger of the tours — to be named One Tennis.
“The ATP and WTA are continually looking for ways to bring the sport closer together in order to provide an enhanced experience for fans, players and tournaments,” the tours said in a joint statement on Monday. “By working together we believe there may be significant opportunities ahead and we are exploring all options. These are preliminary stages and any opportunities will be assessed in close consultation with our respective stakeholders.”
CVC is yet to officially comment on the Sky report.
