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- Deal expected to close in Q1 2022
- Tournament operator MTP to become part of IMG
Agency giant IMG has entered into a definitive agreement with Super Slam Ltd and its affiliates to acquire tennis’ Madrid Open and the Open de España golf tournament.
The transaction is expected to close in the first quarter of 2022, subject to approvals from the Association of Tennis Professionals (ATP), Women’s Tennis Association (WTA) and local regulators.
The Madrid Open, which is one of nine ATP Masters 1000 and four WTA 1000 mandatory events, will join Endeavor-owned IMG’s roster of tennis tournaments, which includes the Miami Open.
The deal will also see Madrid Trophy Promotion (MTP), the Spanish entity that operates the tournament, become part of IMG. Gerard Tsobanian, MTP’s chief executive and tournament director, will become IMG’s senior vice president, tennis events.
Tsobanian and his team will continue to oversee the day-to-day running of the Madrid Open as part of IMG’s global tennis events division led by Gavin Forbes.
Next year’s Madrid Open, which will be the 20th anniversary edition of the tournament, is set to take place from 26th April to 8th May. The Open de España typically takes place in October at the Club de Campo Villa de Madrid.
“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,” said Sam Zussman, co-president of media and events, IMG.
“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.”
