CVC Capital Partners owned F1 between 2006 and 2017, when it was taken over by Liberty Media; the company, which is a world leader in private equity and credit, eyes unifying ATP and WTA’s commercial activities under the name One Tennis, in which CVC would hold a minority interest
The former owner of Formula One motor racing is in talks about a $600m deal that could transform the face of global tennis by combining the organisers of the men’s and women’s tours under a single commercial entity.
Sky News has learnt that CVC Capital Partners is in detailed negotiations about an investment in the merged professional tours. The talks are believed to be at an advanced stage.
A merger of the men’s and women’s tours has been a long-held ambition of executives throughout the sport. CVC is said to be targeting approval from the ATP and WTA boards later this month. The plans, which are understood to have been under discussion for several months, would see the ATP and WTA’s commercial activities unified under the name One Tennis, in which CVC would hold a minority interest.
Read more/Source: Sky Sports
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