The WTA scored a major victory this week, entering into a multi-year partnership with luxury automaker Mercedes-Benz that has the potential to become the largest deal in women's sports history.
Mercedes-Benz signed on as the pro tennis association's premier partner on Wednesday, committing $50 million per year to the WTA for up to 10 years — a possible lifetime value of half a billion dollars.
What's more, the deal's intention is to help the WTA Tour reach its goal of achieving equal prize money across all men's and women's tournaments and standalone tennis competitions by 2031.
While the four Grand Slams already achieved equal purses nearly two decades ago, this week's partnership allowing the WTA to recommit to adopting that prize money parity across all its events.
The move also reflects the growing global investment in women's sports, building on the WTA's expiring four-year, $20 million-per-year contract with Hologic.
"From the day we founded the WTA, our mission was to ensure that every girl, every woman, could have a place to compete... and make a living playing the sport she loves," legend Billie Jean King said in a press release. "Seeing a global brand like Mercedes-Benz stand with us sends a message that echoes far beyond tennis. It says women's sport matters."