IMG Acquires Mutua Madrid Open

IMG is becoming Masters champion.

Sports management company IMG has entered a “definitive agreement with Super Slam Ltd and its affiliates” to acquire the Mutua Madrid Open tennis tournament and the Acciona Open de España golf tournament.

More: Johanna Konta Retires At Age 30

The transaction is expected to close in the first quarter of 2022, subject to ATP and WTA and regulatory approvals. The Mutua Madrid Open is one of nine ATP Masters 1000 tournaments and four WTA 1000 mandatory tournaments.

Upon approval, IMG will own two of the of the season’s first four Masters 1000 tournaments. IMG already owns the Miami Open, set for March 21st, 2022 at the Hard Rock Stadium in Miami.

“The Mutua Madrid Open will be a strong addition to our global events portfolio and tennis business, which will now boast two of the three mandatory combined events on both tours,” Sam Zussman, Co-President of Media and Events, IMG, said in a statement. “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.”

Through the acquisition, Madrid Trophy Promotion SLU (MTP), the Spanish entity that operates the tournament, will become part of IMG, with MTP’s CEO and tournament director Gerard Tsobanian becoming Senior Vice President, Tennis Events, IMG. Tsobanian and his team will continue to oversee the day-to-day running of the Mutua Madrid Open as part of IMG’s global tennis events division led by Gavin Forbes.

The 20th anniversary edition of the Mutua Madrid Open will take place next year from April 26th– May 8th at Caja Mágica in Madrid, Spain.

The Mutua Madrid Open is one of two key clay court events leading up to Roland Garros and boasts an illustrious list of winners that includes Roger Federer, Serena Williams, Rafael Nadal, Petra Kvitová and Novak Djokovic.

Photo credit: Mutua Madrid Open

Source link

Related articles


Share article


Latest articles