Tennis has always prided itself on tradition, especially at tournaments like Wimbledon (the oldest tournament in tennis). Be it clean whites, its century-old federations, or its carefully guarded independence, no other sport has celebrated traditions like this. Historians believe that the game’s ancient origin lies in 12th-century northern France, where a ball was struck with the palm of the hand. But has the time now arrived for a change? Behind the scenes, a different match is being played. One where the serve isn’t struck with a racket but with capital!

Private equity firms, sovereign wealth funds, and institutional investors are circling, seeing tennis not just as a sport but as an underleveraged global business. With Saudi Arabia already stamping its authority over various sports like soccer, golf, and many others, the whispers are getting louder: Could tennis be next?

However, other tennis legends, like Billie Jean King, who has always spoken highly of engagement and inclusion, said that she wants to see some changes in Saudi Arabia if the WTA holds an event in the Kingdom. Amid all these reactions from various tennis bigwigs, in February 2024, PIF announced its partnership with ATP and became the official naming partner of the PIF ATP Rankings.

They claimed the partnership focuses on enhancing global tennis and its long-term future, elevating youth, and unlocking opportunities for tennis’ next generation. As a result of this multi-year deal, PIF will partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing, and the Nitto ATP Finals in addition to the Next Gen ATP Finals, hosted in Jeddah until 2027. ATP CEO Massimo Calvelli had then said, “Our strategic partnership with PIF marks a major moment for tennis. It's a shared commitment to propel the future of the sport.”

Following that, in another historic move, PIF joined hands with WTA. Together, they unveiled a multi-year partnership that will support their shared ambition to grow women’s professional tennis and inspire more women and girls around the world to take up the sport. As per the deal, the PIF was set to serve as the first-ever naming partner of the WTA Rankings. The new partnership between the WTA and PIF stated that the season-ending WTA Finals will be hosted in Riyadh for the next three years, starting in 2024. Therefore, PIF has now become the only global partner across both the WTA and ATP Tours.

Talking about this groundbreaking deal, WTA CEO Marina Storti said, “We are delighted to welcome PIF as a Global Partner of the WTA and our first-ever official naming partner of the WTA Rankings. Together, we look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game.” Following this deal, the WTA Finals is now set to see a record $15.25 million in prize money (up from $9 million in 2023). 

Other than this, several big-name stars took part in a lucrative exhibition event in Saudi Arabia, named ‘Six Kings Slam.’ The star-studded event will yet again take place this year as well (October 15-18). Seeing PIF’s strategy in other sports, fans could probably be wondering if this signals direct state-backed influence at the highest levels. But that’s not all!

How is private equity also buying into the beautiful game of tennis?

Earlier this year, a group led by Ari Emanuel won the auction for a portfolio of assets, including the Miami Open and Madrid Open, from Endeavor Group Holdings Inc. The consortium, which is anchored by Apollo Global Management Inc. and RedBird Capital Partners, paid more than $1 billion for the portfolio and outbid CVC Capital Partners PLC, which was also looking forward to acquiring Endeavor’s tennis assets, as per various reports.

Endeavor’s wider tennis portfolio reportedly includes owned-and-managed events like the ones in Chengdu and Hong Kong. As per various reports, later on, the 85-year-old Miami Dolphins owner, Emanuel Ross, also expanded his sports empire by acquiring a 45% stake in the Miami Open’s sale by Silver Lake-owned Endeavor.

Seeing all these, it seems like elite tennis is now being treated like a portfolio of buyable, tradable assets, with billion-dollar valuations now part of the sport’s landscape.

Tech & startup investments in tennis

To showcase how capital is flowing into tennis startups, from AI coaching apps to smart-court systems, with players themselves lining up as investors, let’s shift our focus to SwingVision. This AI-powered coaching and analytics application was founded in 2019 with the goal of bringing professional-grade analytics to tennis players of any skill level. Its technology analyzes smartphone video in real time, providing detailed statistics, video highlights, and personalized coaching.

In 2023, this smartphone-based AI tracking app for tennis announced a $6 million Series A round to further develop its automated officiating technology and expand into other racket sports such as pickleball and padel. Authentic Ventures led the round, which included participation from tennis stars including Rohan Bopanna, Lindsay Davenport, and Alison Riske. Moreover, Andy Roddick and James Blake invested during its $2 million seed round led by Tennis Australia’s Wildcard Ventures.

More than 100 NCAA Division I college programs have already subscribed to SwingVision, which is also the official ball tracking app of Tennis Australia, the UK’s Lawn Tennis Association, and the Intercollegiate Tennis Association. So, the landscape in the racket sport is changing quite rapidly now.

Startups are already using AI to analyze strokes, footwork, and even fatigue levels in real time. With institutional investment, these tools could scale from grassroots to the pro tour. Imagine a teenager from America or somewhere else in the world training with AI insights identical to those available to the Top 10. For investors, this isn’t just sport—it’s a tech play, with recurring subscriptions, data monetization, and global scalability.

Saudi’s investment: A boon or bane for tennis?

Tennis has always been defined by its sacred four pillars—the Grand Slams. Add the glittering Masters 1000 events, and you have the beating heart of the sport’s calendar. But as the financial world sets its eye on tennis, whispers are growing louder in both boardrooms and locker rooms: What if all this were bundled into one, private, investor-backed super tour? It sounds radical, but not impossible.

Rumors are growing that a LIV Golf-style elite tennis tour could be launched in the near future. Saudi Arabia’s involvement has already portrayed quite a few interesting moves already, be it the introduction of the ‘Six Kings Slams’ or naming Rafael Nadal as the ambassador of its tennis federation, with plans also in the pipeline for a training academy. 

Saudi Arabia’s foray into sport is a well-known fact and is taking many forms. Tennis is no exception! There are also rumors about landing a Masters 1000 tournament in the Kingdom. As per ATP CEO, Massimo Calvelli, “We are very committed to the opportunity and believe that if we are going to bring a top-level event, a Masters 1000 event, the outlook is potentially from 2028 onwards. By the time we get there, in terms of infrastructure investments and the demand we will have created together, working with the different stakeholders here, such as the PIF (Public Investment Fund of Saudi Arabia) or the Saudi Tennis Federation, there will certainly be an incredible opportunity.”

PIF has already announced itself as a sponsor of prominent ATP Masters 1000 events, including the Indian Wells Open, Miami Open, and Madrid Open, and also the ATP 500 China Open. Its huge investments in the sport are definitely worth making the headlines, but does it raise any concern for the near future? Well, tennis legends have already shared their thoughts on that, and for now we’ll have to wait and see where it goes from here.

But amid all these controversies surrounding “sportswashing” claims, earlier this year the WTA and PIF announced that women’s tennis will receive up to 12 months of paid maternity leave for the first time under an initiative. But to be eligible, players must compete in “a certain number of WTA tournaments in a window of time.” The program will also provide grants for fertility treatments.

Seeing all these rapid changes makes fans wonder whether tennis is entering a golden commercial era or stepping into a new era of investor-driven upheaval. What is your take on this?

Written by

Sayantan Roy

Sayantan Roy is a seasoned tennis journalist at EssentiallySports. He brings a deep tactical understanding to his coverage, breaking down head-to-head records, match dynamics, and on-court strategies with precision. For more than two years, Sayantan has been a key member of the Live Events desk, delivering real-time insights and data-backed predictions for the platform’s Matchday Preview section. His analytical approach has sparked editorial debates and drawn recognition from respected tennis voices, including commentator and analyst Olly_Tennis. Combining his experience in writing with a passion for insightful sports journalism, Sayantan’s work serves as a trusted reference point for tennis fans around the world.

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Edited by

Shrabana Sengupta