Sky News reports that the negotiation about the WTA/ATP merger is in an advanced stage and that finalization of the several months of discussion could come later this month. Private equity firm CVC Capital Partners is taking a stake in the union which will be called One Tennis.
CVC is in talks about a $600 million deal that would unite women’s and men’s tennis tours into one commercial entity that will go under the name One Tennis. The approval from the ATP and WTA boards is expected soon. The investment firm known as the former owner of Formula One motor racing would hold a minority interest in the merger which is expected to accelerate the sport’s recovery from the pandemic.
Mark Webster, ATP Media’s Chief Executive, would hold the same role at One Tennis.
While CVC declined to comment, women’s and men’s tennis governing bodies said in a joint statement:
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.
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.
Unified governance would simplify a range of things, including television contracts and sponsorship deals.