USTA Launches Investment Fund to Support Tennis Growth
Source：CHINA SPORTING GOODS FEDERATIONRelease time：2023-09-13Clicks：
Article From：SGB Media
The United States Tennis Association (USTA) launched USTA Ventures through the USTA Strategic Investment Committee, which will evaluate a broad spectrum of long-term investment opportunities. The focus will be on acquiring potential equity stakes in technologies and other companies to advance the growth of tennis in the U.S. and elevate experiences at the U.S. Open, which is owned and operated by the USTA.
“We see the formation of USTA Ventures not only as a sound business decision but also as an opportunity to strengthen companies within the tennis, health and wellness sectors,” said Lew Sherr, CEO of the USTA. “Tennis has seen significant growth in recent years, and by investing in these types of opportunities, we are helping to strengthen the tennis ecosystem throughout the U.S., putting ourselves in the best possible situation to continue to grow the game at the grassroots level.”
The USTA noted that 23.6 million people played tennis in 2022, representing an increase of 33 percent in participation rate since 2019, with an additional 5.9 million players over the past three years.
USTA Board Member Bill McGugin chairs the USTA Strategic Investment Committee and comprises USTA Board Treasurer Chris Lewis, Board Members Maggie Chan Jones, Kathy Francis, Liezel Huber, Bobby Sharma, and USTA Chief Financial OfficerEd Neppl. Other advisors include entrepreneur and long-time tennis supporter Mark Ein and grassroots tennis advocate Perron Wong. USTA staff member Eric Butorac, director of pro tennis operations and player relations, will also support the committee.