Categories: Sports

Money rain for women’s tennis

class=”sc-97fd9fa8-0 jNFKxv”>

Money rain for women’s tennis.

Women’s tennis can look forward to hundreds of millions of dollars in rain. According to various media reports, Luxembourgish financial company CVC is investing a 20 percent share, the equivalent of approximately CHF 141 million ($150 million), for its confirmed participation in the WTA tour.

“This partnership with CVC brings experience, network and capital to take our sport to the next level, push women’s tennis beyond its former boundaries and set new standards in the sport,” said WTA President Steve. Simon about the deal. The cash injection comes at the right time for the WTA. Due to the cancellation of tournaments in China and Hong Kong due to the public fate of former pro player Peng Shuai, the organization, which spans 70 events worldwide, has suffered high revenue losses.

However, the primary goal of the new partnership following an upcoming inventory and situation analysis is for the WTA to increase the prize money at its tournaments. The success bonuses for men and women are identical in the four Grand Slam tournaments (Melbourne, Paris, Wimbledon, New York), but in the independent competitions, the WTA still lags behind its men’s counterpart ATP. Last year the difference between prize money was 70 percent, the biggest difference in the last 20 years.

CVC is a powerful investor and well-known player in the sports business. The company recently invested billions in the Spanish football championship and was previously one of the owners of Formula 1. In recent weeks, CVC has also been in talks as a potential buyer of shares in a media subsidiary of the German Football League (DFL). rights. (AFP)

Source : Blick

Share
Published by
Emma

Recent Posts

Terror suspect Chechen ‘hanged himself’ in Russian custody Egyptian President al-Sisi has been sworn in for a third term

On the same day of the terrorist attack on the Krokus City Hall in Moscow,…

1 year ago

Locals demand tourist tax for Tenerife: “Like a cancer consuming the island”

class="sc-cffd1e67-0 iQNQmc">1/4Residents of Tenerife have had enough of noisy and dirty tourists.It's too loud, the…

1 year ago

Agreement reached: this is how much Tuchel will receive for his departure from Bayern

class="sc-cffd1e67-0 iQNQmc">1/7Packing his things in Munich in the summer: Thomas Tuchel.After just over a year,…

1 year ago

Worst earthquake in 25 years in Taiwan +++ Number of deaths increased Is Russia running out of tanks? Now ‘Chinese coffins’ are used

At least seven people have been killed and 57 injured in severe earthquakes in the…

1 year ago

Now the moon should also have its own time (and its own clocks). These 11 photos and videos show just how intense the Taiwan earthquake was

The American space agency NASA would establish a uniform lunar time on behalf of the…

1 year ago

This is how the Swiss experienced the earthquake in Taiwan: “I saw a crack in the wall”

class="sc-cffd1e67-0 iQNQmc">1/8Bode Obwegeser was surprised by the earthquake while he was sleeping. “It was a…

1 year ago