Private equity firm CVC is reportedly in advanced talks over a deal to combine the organisers of the men’s and women’s tennis tours in one commercial entity.
According to a report from Sky News, the former Formula One owner CVC is in detailed talks over a US$600 million deal to combine the ATP and WTA under one roof. Execs from both bodies have reportedly long held an ambition to merge the men’s and women’s tours, with CVC targeting approval from the bodies respective boards later this month.
The report notes that the merger talks have been ongoing for several months, and that the tours would be unified under a new One Tennis brand.
The new brand, of which CVC would hold a minority share, would be led by ATP Media CEO Mark Webster.
More than just a formal association of the men’s and women’s games, CVC would look to grow investment in tournaments and prize money along with an upgrade to broadcast production.
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20 June 2021 @ 13:38:00 UTC