CVC Capital Companions, the buyout big, is serving up a $1bn (£790m) bid to purchase a portfolio of tennis property which incorporates two of the game’s most prestigious annual tournaments.
Sources near the method, which is being dealt with by The Raine Group, stated an additional spherical of bids – considered value within the area of $1bn – had been attributable to be submitted later this month.
The property are at the moment owned by Endeavor Group Holdings, the worldwide sports activities and leisure firm headed by the previous Hollywood expertise agent Ari Emanuel.
Cash weblog: Crypto soars after Trump announcement
CVC is claimed to be bidding in opposition to Mr Emanuel himself, with the Endeavor chief understood to have engaged bankers at Goldman Sachs to advise him on his provide.
It was unclear on Monday whether or not Mr Emanuel would search exterior financing for his bid.
Different non-public fairness corporations, together with EQT Companions and Windfall Fairness Companions, are additionally thought to have examined potential bids though it was additionally unclear whether or not they had been at the moment a part of the public sale course of.
A variety of rich people are stated to have expressed curiosity in shopping for particular person tournaments on a standalone foundation, though Endeavor is predicted to pursue a single deal for all the property.
If CVC was profitable with its bid, it could characterize the prolific sports activities investor’s first foray into proudly owning tournaments through which the world’s main male gamers – together with Carlos Alcaraz and Alexander Zverev – will characteristic.
Jannik Sinner, the world primary, will miss each IMG-owned tournaments this 12 months after being handed a three-month ban by the World Anti-Doping Company (WADA) in January, whereas the previous primary Novak Djokovic is prone to omit each from his truncated 2025 schedule.
The Miami Open is because of start on 16 March, whereas its Madrid counterpart will get underway on 21 April.
Along with the 2 premier occasions, each of which carry 1,000 world rating factors for the winners, the IMG portfolio consists of the Barcelona Open and the annual pre-Wimbledon match at London’s Hurlingham Membership.
The ATP Masters 1000 Collection and WTA 1000 occasions are one rung on the tennis hierarchy beneath the 4 annual Grand Slam occasions, that are held in Melbourne, Paris, at Wimbledon and in New York.
CVC already has a big presence in skilled tennis, having shaped a business three way partnership with the Girls’s Tennis Affiliation (WTA) in 2023.
Within the first full 12 months of the partnership – through which CVC invested $150m – WTA Ventures noticed income progress of 24%, within the wake of a brand new technique which included the primary WTA Finals in Riyadh, Saudi Arabia.
WTA Ventures stated the rise put it on observe to realize a long-term goal of tripling business income in the course of the six years between 2023 and 2029.
One tennis insider stated the game was prone to welcome extra funding in tennis.
The 2025 ladies’s rankings are headed by Aryna Sabalenka, with Poland’s Iga Swiatek and the American Coco Gauff immediately behind her.
Since taking management of System One motor racing in 2006, CVC has established itself as probably the most distinguished non-public fairness investor in sport globally.
It now has pursuits spanning soccer, rugby union, cricket and volleyball.
Endeavor determined to promote its tennis property, together with Frieze, the artwork enterprise, following an announcement final April that it could be taken non-public by Silver Lake, the non-public fairness agency.
Since then, New York-listed TKO Group Holdings has struck a deal to purchase property from Endeavor together with IMG.
That, transaction, which closed final week, didn’t embody IMG’s full occasions portfolio, which stays a part of Endeavor, in line with an organization assertion.
CVC additionally declined to remark.
