The WTA's plan to triple its revenues: "Working with Saudi Arabia is great for our sport"

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Not many months ago, a piece of news that could change the future of the women's circuit went perhaps unnoticed. In a desperate search for an economic cushion and, above all, to outline a viable plan for its growth in the coming years, the WTA found a partner named CVC. Many might recognize these initials for the contract they signed with clubs in the Spanish League, but their investment of over 150 million dollars, positioning this investment fund as a key player on the board, shook the foundations of women's tennis.

Several months later, the injection of money is being leveraged by the WTA to, as mentioned, seek sustainable growth. Several actors come into play to ensure it, but the data shows a positive trend in 2024: circuit earnings have increased by 24% throughout 2024, under the leadership of a newly established partnership. It is named WTA Ventures, responsible for organic growth and commercialization, and through its partnership with the private equity firm (CVC), its mission is to generate more profits within the circuit. Its leader is Marina Storti, an Italian who could become the public face of the WTA revolution.

"The truly fantastic aspect of this 24% economic growth is that it aligns with our ambition. We aim to triple the circuit's earnings between 2023 and 2029, so we are in the midst of a transformation period. Meeting and exceeding our expectations in the first year is encouraging, indicating the potential for the WTA to become a real commercial pillar," confidently states to SportsPro. Since the inception of WTA Ventures, this company has focused on reinforcing contracts with existing sponsors (Rolex and Morgan Stanley have renewed their agreements with the WTA), securing television deals with networks like Sky or Canal +... and shaping a significant agreement with Saudi Arabia.

SAUDI ARABIA, A KEY PLAYER FOR THE WTA

The arrival of the WTA Finals in Riyadh did not come without criticism, accusations of sportswashing, and intense scrutiny. Storti, however, defends the "thoroughness" of the selection process and highlights the commitment of the Arab country to grow tennis within its borders. "We've already seen that the Saudi Federation can organize and offer us a top-level event. Additionally, we wanted to support the economic growth of the players, providing an opportunity for them to earn a significant amount of prize money. Finally, we aimed to work with a partner that not only helps us grow the tournament as an event, but also impacts the long-term growth of tennis," emphasizes the Italian, emphasizing that the largest cash prize in the history of the women's circuit was awarded.

The WTA's dealings with Saudi Arabia extend beyond the end-of-season event. The Saudi Sovereign Fund (PIF) acquired the commercialization rights of the WTA ranking, adding its name to the ranking, and becoming a global partner of the circuit. "Working with the Saudi Tennis Federation in Riyadh is beneficial for the future of our sport, as a new wave of fans is emerging, so we are no longer relying solely on existing markets but trying to create new ones. I see a bright future with much more growth, especially for the women's circuit: the WTA can become an extremely significant institution," she shares. Will her predictions come true?

AND A UNION WITH THE ATP?

Strong rumors have also circulated in recent years about a possible union with the ATP: they have signed various commercial agreements, but have not yet consolidated their efforts under the same entity. However, this situation is somewhat stalled, as Storti states that "there isn't much news" on this front. Nevertheless, the Italian remains optimistic about the future of tennis.

This news is an automatic translation. You can read the original news, El plan de la WTA para triplicar sus ingresos: "Trabajar con Arabia Saudí es genial para nuestro deporte"