WTA Signs Landmark Long-Term Deal with Mercedes-Benz
The Women’s Tennis Association (WTA) has agreed a major long-term partnership with Mercedes-Benz, which could become one of the biggest deals in women’s sport.
Mercedes-Benz will become the WTA’s top partner and invest $50m (£37.5m) each year in women’s tennis for up to 10 years. The agreement is described as the most important in the WTA’s history and could eventually be worth up to $500m (£375m).
The new partnership will support the WTA’s goal of offering equal prize money at events where men and women both compete by 2027, and at women-only tournaments by 2033. Equal pay has been a key aim since the WTA was founded in 1973.
WTA founder Billie Jean King said the deal shows the organisation is still leading progress in women’s sport. She highlighted the importance of equal prize money and the positive message it sends to young players.
This agreement is far larger than the WTA’s previous title sponsorship deal with a medical technology company, which invests $20m (£15m) a year. Mercedes-Benz also has a long history in tennis as a sponsor of major events and players.
King said the WTA was created to ensure that any talented girl could compete, be respected and earn a living from tennis. She described the new deal as a true long-term partnership that sends a strong message beyond the sport.
Women’s sport continues to grow worldwide, with revenue rising above $1bn (£754m) last year and expected to reach $2.5bn (£1.8bn) by 2030.
The new partnership was arranged by WTA Ventures, the organisation’s commercial arm, supported by private investment. The WTA has faced financial pressures in recent years, but recent sponsorships and agreements have helped strengthen its position.
This year’s WTA Finals champion won a record £4m in prize money. WTA chair Valerie Camillo said the Mercedes-Benz deal marks a powerful moment for women’s sport and that the organisation is excited for the future.
