Winners Alliance, the commercial branch of the Professional Tennis Players Association co-founded by Novak Djokovic, has successfully secured an additional $40 million from existing investors. Among the backers are billionaire Bill Ackman’s Pershing Square Foundation and Prysm Capital.
Established in 2022, Winners Alliance was created to help professional tennis players explore business ventures beyond the court. The organization has since broadened its focus to include cricket and athletics. In February, it teamed up with Olympian Michael Johnson to launch a new track league aimed at boosting the sport’s popularity.
“Our focus is now extending to other sports like cricket and track and field,” said Ahmad Nassar, CEO of Winners Alliance, during a phone interview. “People are interested in athletes as individuals rather than just logos. Our mission is to support athletes in enhancing their advocacy and opportunities.”
In 2022, Pershing Square Foundation and Prysm Capital led a $26 million investment into Winners Alliance, with Ackman taking on the role of chairman of the board.
Sports such as the NFL, NBA, MLB, and football offer numerous lucrative sponsorship opportunities, from video games to trading cards and collectibles. However, for sports like tennis, cricket, and track and field, these industries remain smaller outside of the top athletes.
“We need to understand the consumers of these sports,” explained Eric Winston, president of Winners Alliance, in a phone interview. “While there have been minor cases of trading cards in tennis and track, nothing substantial has emerged. Our goal is to help athletes maximize their rights and earnings. This is something we have been able to achieve and will continue to strive for.”
Winners Alliance reports having facilitated over $10 million in additional off-court earnings in tennis through partnerships with Fanatics, Hilton, and Tumi. With the latest funding round, the organization has raised a total of $75 million.
