The WTA Board is likely to approve a $150 million investment offer from private equity group CVC Capital Partners, says the Times, in return giving it 20 percent of tour earnings.

The British newspaper said the move had been favorably received during a board meeting at Wimbledon, and now is on track to be approved at the US Open.

Though declining to comment on the story, the WTA has subsequently clarified that it is not considering providing an ownership stake in the tour.

"The WTA is a not-for-profit membership corporation and the addition of new member groups is not under consideration,," the WTA told SportsPro in a statement. “We have been in discussions with third parties, including CVC, regarding a potential investment opportunity in a new commercial venture.

“We have not yet made any decisions as to what we do or do not intend to do in this space.”

The WTA did not comment on the figures mentioned.

We have not yet made any decisions as to what we do or do not intend to do in this space. Hologic WTA Tour statement


It also confirmed recent stories in the Daily Telegraph and the New York Times that it is not currently considering an offer from Saudi Arabia to hold a women's event. "We have not entered into any formal negotiations on bringing a WTA event within the Saudi region," said the statement.

The WTA Tour is looking for more funds to offset the hit it took in withdrawing all its events in China following the Chinese government's detainment of WTA player Peng Shuai.

They have been linked to CVC for nearly a year, with rumors emerging last June that the private equity group had made a $600 million offer for a minority stake in a single commercial entity that would combine both the men’s and women’s pro tours.

According to the Times, CVC is still interested in investing in the ATP Tour or both tours combined, but the ATP first wants to complete its current 'OneVision' rehaul of the circuit before looking at any offers.

The CVC group is also an investor in several other professional sports, including cricket, soccer and rugby.