Endeavor-owned IMG, which produces and distributes sports and entertainment media, has struck a deal with Super Slam Ltd and its affiliates to acquire the Mutua Madrid Open tennis tournament and the Acciona Open de España golf tournament.
As part of the acquisition, Madrid Trophy Promotion SLU (MTP), which operates the Mutua Madrid Open and Acciona Open de España golf tournament, will become part of IMG. Gerard Tsobanian, MTP’s CEO and tournament director, becomes senior vice president in IMG’s global tennis events division, led by Gabin Forbes, and will continue to oversee the day to day running of the tournaments along with his team.
The Mutua Madrid Open joins tennis tournaments such as the Miami Open and other ATP and WTA events on the IMG roster. In 2019, IMG moved the Miami Open to the 350,000-capacity Hard Rock Stadium (also home to the Miami Dolphins) where it now boasts one of the largest broadcast tennis audiences outside of the Grand Slams and tour finals.
“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 at 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.”
Subject to ATP / WTA and regulatory approvals, the deal is expected to close in the first quarter of 2022.
IMG were advised by Latham & Watkins LLP.
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December 06, 2021 at 06:30PM
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IMG Acquires Mutua Madrid Open Tennis, Acciona Open de España Golf Tournaments - Variety
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