King sells World Team Tennis majority stake to two franchise owners
Billie Jean King, the retired tennis superstar and co-founder of World Team Tennis, the mixed-gender professional tennis league, is selling her majority stake in the competition 42 years after launching it.
King (pictured) is giving up her share to Mark Ein, founder and owner of the Washington Kastles WTT franchise, and Fred Luddy, owner of the San Diego Aviators team. King has said she will continue to serve as the owner of the Philadelphia Freedoms team as well as working in a minor role for the WTT.
The 39-time ‘grand slam’ title winner announced the decision at the Indian Wells Tournament in California on Monday. She said: “This is an honour for me that we get to pass the torch to somebody we know will take us into the future, who will make us bigger and better than we could have ever imagined. I am confident the league will continue to grow and prosper under Mark and Fred's leadership."
The WTT was founded in 1972 and is presently made up of six teams in USA, with four more franchises expected to be added next year.