Prepared for Bill Ackman · September 2026

You said you wanted to fix the economics.

In 2022 you put money behind changing what professional tennis pays its players. Four years on, that fight is in a courtroom. This is the other route: a league that already pays them, with no one to sue.

League-level equity · not a franchise

In the stands in Atlanta, watching his sister play · Season 2

A gender-balanced Professional Team Tennis League

Your three complaints

You have made the argument for this league three times, in public, without knowing it.

In 2022 you said you had “long recognized the challenges that most professional tennis players experience due to the sport’s inferior economics for all but the very top of the rankings ladder.” In March 2025 you said the sport’s abuses had been allowed to metastasize because of its power dynamics. Last month you said a $363 grounds pass on day one of the US Open was absurd for an organisation with non-profit status.

Underpaid players. Governance that answers to nobody. Fans priced out. We built a league that answers all three, and it did not require anyone to be sued.

Players are paidA $40,000 base wage for an eight-week season, up to $70,000 with performance. Employees, not entrants.
Nobody governs usNo sanctioning body, no ranking points to withhold, no calendar to be granted a slot in.
Tickets are cheapAn Arc is about an hour and forty minutes and priced for a family, not a corporate box.

The question you will ask first

Prize money is committed before a season is sanctioned.

Not pledged, not contingent on a round closing, not dependent on a co-investor honouring a term sheet. Committed — and paid, across two completed seasons. Every player who has taken the court for INTENNSE has been paid what they were promised, on time.

We know what the last few years have done to the credibility of new leagues, and we know that the first question a serious person asks is not about the format. It is whether the athletes get their money when something goes wrong. Ours is a wage obligation to employees, funded ahead of the season, not a prize pool assembled while the season runs.

Why the economics are broken

Break-even on tour is about 150 in the world. Almost nobody is above it.

The ITF’s own figures put break-even at 336 for men and 253 for women — but those costs exclude coaching, which every professional carries. Counted properly, a peer-reviewed 2026 study puts it near 150. Of the men on our rosters who have ever held a ranking, not one reached that number. On today’s rankings it is unanimous across both panels.

This is the structural fact under everything you have said about the sport. Tennis produces thousands of professionals and pays a few dozen. Every player we drafted is below the line; the chart is here.

The INTENNSE arena during a match
Where the money goes instead

The format

Three women, three men, one score. It is a product decision.

Every team puts three women and three men on court and they share a single cumulative score. A point won by a woman counts exactly what a point won by a man counts, because the scoreboard does not distinguish between them.

That is not a position. It is what makes the match work: it doubles the number of athletes a broadcast can build a story around inside the same window, it makes every set matter to a single running total, and it produces the finishes the league is known for — two Arcs last season decided by one point. The format came first and the balance fell out of it.

The Rules of INTENNSE, explained · 2:04

You already do this

You have been funding the American pathway for twenty years.

A teenage Frances Tiafoe, over a hundred thousand dollars for coaching and travel. Robin Montgomery, through to a US Open women’s doubles final this month. Court rebuilds in the Bronx and in Washington. And when an endowment to one institution did not work out, ten million dollars pledged to the Junior Tennis Champions Center instead.

Every one of those is the same bet: that the constraint on American tennis is not talent but what happens to talent between eighteen and twenty-five. That is the gap this league occupies. Your money has been doing retail what a league does wholesale.

Players on court at INTENNSE
The years the sport loses people

What we are asking

A stake in the league, and a seat at the table. Not a franchise.

League-level equityThe property itself — the format, the draft, the season, the media rights and the pathway under them. Not a team in a city.
A board seatA voice in how it grows: which markets, in what order, with which owners. The league is operated by people who do it full time.
Not a team charterA local operating business with a venue and a payroll. You have never bought one and we are not going to ask you to.
Not a playing roleEvery place on this court is earned. That is the whole proposition and we will not sell exceptions to it.

The structure that fits is the one you have used before: foundation or family office capital, a chair or board seat, and an operator who runs it. If it is worth an hour, we will bring the model and the numbers.