IMG acquires key ATP and WTA 1000 event
The major management group already boasts five tennis events across the ATP and WTA tours, adding another premier tournament to its roster.
IMG operates the Aspall Tennis Classic exhibition event, the WTA 500 Silicon Valley Classic, the ATP and WTA Sydney International and the ATP 500 Barcelona Open.
However, their flagship tennis event is the ATP 1000 and WTA 1000 Miami Open, owned and operated by IMG since 1999.
Now, the company will also own the Madrid Open, another ATP and WTA 1000 level tournament.
IMG announced that they have entered an agreement with Super Slam Ltd and its affiliates to acquire the event, with the transaction expected to close in the first quarter of 2022.
That transaction closure will be subject to several ATP and WTA regulatory approvals.
“The Mutua Madrid Open will be a strong addition to our global events portfolio and tennis business,” Co-President of Media and Events, IMG, Sam Zussman said.
“[Our portfolio] will now boast two of the three mandatory combined events on both tours.”
Those three events are the Miami Open, Madrid Open and Indian Wells. The latter is currently owned by the exectuvie chairman and co-founder of Oracle, Larry Ellison.
“We’re looking forward to leveraging Endeavor’s broader network to further enhance the fan experience and add value across production, media, brand partnerships, retail, and hospitality, just as we’ve done with the Miami Open,” Zussman added.
The Madrid Open will celebrate its 20th anniversary edition next year between 26th April and 8th May.
The event was played on indoor hard courts between 2002 and 2008, and has since been played on outdoor clay courts.
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