$125m to be invested into WTA after strategic partnership announced with ex-F1 partners

The former owners of Formula One, CVC Capital Partners are set to invest in the WTA which is set to help the Tour grow even further in the future.

The 125 million dollar investment is a major investment with the WTA announcing the 'strategic partnership'. The CVC, a private equity firm, has a long history of investing in sports. Besides owning Formula One for over a decade, the firm also invested heavily in an Indian Cricket team as well as acquiring a stake in the Six Nations Rugby Union tournament.

Their £125m investment gives CVC a 20% stake in the WTA's subsidiary WTA Ventures LLC. WTA Chairman and CEO Steve Simon said the partnership would "move our sport to the next level" with one of the benefits increased prize money. In a statement, Simon further said:

"I am excited for the next chapter of the WTA whose future will continue to push the growth of women's professional tennis. It is truly fitting that we are celebrating 50 years of the WTA alongside the introduction of this landmark and historic opportunity. This partnership with CVC brings experience, a network and capital to move our sport to the next level, embracing the ambition of our founding members, urging women's tennis beyond its barriers and pioneering new standards for a more equitable and valuable sport."

Two players also commented on the move with Iga Swiatek saying:

"I am proud to be a part of the WTA, as they are committed to innovating the sport, investing in the players, and promoting us all over the world. I'm inspired to be a part of the evolution of women's tennis and building out the next 50 years of the WTA."

Pegula added:

"This is exactly what women's tennis needs and I'm excited for what’s to come. For so long, we've been championing the sport for women across the world and it's great to have the investment and belief in the players and WTA product."