Andy Roddick, Venus Williams Take Stakes In World TeamTennis
Andy Roddick and Venus Williams will each own slightly less than 5% of World TeamTennis in a deal announced today. The duo are not paying for their stakes, but will market the summer league, make appearances and be full equity owners, meaning they are subject to cash calls. Roddick and Williams will own 5% each of World TeamTennis Int’l, which owns 75% of the eight-team league. The remainder is largely owned by the USTA. WTT Commissioner & CEO Ilana Kloss said she hoped to broaden the tennis player ownership model “down the road,” along with int'l expansion next year.
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Roddick and Williams are longtime WTT competitors, and will be so again this summer.