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Tennis nets sponsors
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November 21, 1996: 8:42 a.m. ET
Women's tennis battles back from behind to find sponsors, prize money
From Correspondent Sean Callebs
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NEW YORK (CNNfn) - The top women's tennis tournaments have always been able to attract the game's best players. But finding sponsors and prizes has been a different story.
Last year, the Women's Tennis Association's season-ending tournament in New York failed to find a sponsor.
This year, Chase Manhattan Bank is backing the $2 million event. (973K QuickTime movie)
Charles McCabe Jr., executive vice president for Chase Manhattan Bank, said both sides were working together to make the event better. "They want to fill the seats. We want to get our name out."
So, while the Chase Women's Tennis Tournament doesn't have the luster of the game's four grand slam tournaments, at least it has a big payoff.
The top 16 women in the world are competing for a top prize of $500,000.
  
That's big money for a women's tour that doesn't have a national television contract.
It wasn't always this way. Virginia Slims cigarettes sponsored the WTA for years but they split two years ago when sporting events began backing away from tobacco money.
Corel Corp., a Canadian-based computer software company, stepped in and now sponsors the women's tour.
Kim Dickson, Corel's executive director of marketing, explained that the demographics for the tour were just what they were looking for. (122K WAV) or (122K AIFF)
Over the past 25 years the prize money has increased dramatically from $250,000 back in 1971 when Billie Jean King started the WTA. Now Corel and WTA pays out over $36 million. That growth comes exclusively from corporate support around the world.
And while women's tennis has lost some of its stars -- Gabrielle Sabatini being the latest to retire -- other top young players like Lindsay Davenport and Martina Hingis are waiting in the wings.
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