The Billie Jean King Cup has a new part-owner: Billie Jean King

The International Tennis Federation and TWG Global, a holding company led by Los Angeles Dodgers principal owner Mark Walter, signed a partnership agreement Thursday for a joint venture to market and promote the women's tennis competition that used to be called the Fed Cup and was re-named to honor King in 2020. The new entity will be called Billie Jean King Cup Limited, with the ITF holding 51% and TWG Global 49%, and it will seek new sponsorships and broadcast and commercial partnerships.