Athlete Rights Startup Backed by Ackman Raises $40 Million (1)

Winners Alliance, the commercial arm of the Professional Tennis Players Association co-founded by Novak Djokovic, has raised a further $40 million from existing investors including billionaire Bill Ackman’s Pershing Square Foundation and Prysm Capital.

Winners Alliance was founded in 2022 to help professional tennis players pursue business opportunities off the court. It’s since expanded to cricket and athletics. In February, it partnered with Olympian Michael Johnson to create a new track league that is vying to grow the sport’s popularity.

“The focus is now on these other sports, cricket and in track and field,” said Ahmad Nassar, ...