The former owner of Formula One is in talks over a $600m deal to merge the commercial interests of ATP and WTA Tours, it is being reported.
Sky Sports news claim CVC Capital Partners, who owned motor racing behemoth F1 for a decade, would invest in a new venture called One Tennis, which would unify the men’s and women’s tours.
However, the CVC’s move is believed to be investment upon the condition of a merger, not a takeover. They would receive a minority interest.
If completed, and they hope to receive approval this month, Mark Webster, the chief executive of ATP Media, would hold the same role with One Tennis.
According to the report, ‘the investment firm is likely to target greater investment in tournaments and player prize money, improved broadcast production capabilities and an enhanced global digital platform for the sport’s fans.’
CVC are no strangers to this kind of investment plan. As well as their previous ownership of Formula One, they are in the process of buying shares in the Six Nations Rugby.
They also already own stakes in Premiership Rugby, International Volleyball, and Pro14, and they are also reportedly looking at a potential deal with the NBA and English women’s football too.
For more exclusive content from Tennisbuzz, including news, features, trivia, promotions and more, please be sure to sign up for our newsletter below or via our home page.
Why not test your tennis knowledge by tackling one of our fiendish quizzes too?