Rumors swirl around Miami and Madrid Opens as possible sale to Saudi Arabia looms

Two Masters 1000 could be ‘for sale,’ with Miami Open and Madrid Open amid suggestions of a potential move to Saudi Arabia. The Asian country's interest in bringing tennis to its shores continues to rise. The recent sale of IMG to TKO for a sum of $3.25 billion seems to be another step towards hosting a major tournament in Saudi Arabia. The sale also includes a package of other companies, such as On Location and Professional Bull Riders.

IMG was the company that organized the Miami and Madrid Opens, but with new ownership, they appear to be considering selling both tournaments. According to Tennis 365, a significant possibility is that they will be sold to the Saudi Arabian Public Investment Fund (PIF), which has been seeking to add tournaments in recent years.

Saudi Arabia’s PIF may target Miami and Madrid Open

Saudi Arabia has successfully hosted events like the Next Gen ATP Finals and the WTA Finals, offering historic prize money. Recently, it hosted the Six Kings Slam—a showcase tournament featuring top stars from the tour—where Jannik Sinner won a title that set a record for prize money for a tennis player, exceeding $6 million, in addition to $1.5 million awarded to each participant in the exhibition.

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A Saudi Masters has been suggested multiple times at the start of the season as a preparatory event for the Australian Open, due to shorter travel distances and the possibility of hosting a highly competitive tournament ahead of the first Grand Slam of the year.

Saudi’s PIF may attempt to relocate the Miami Open and Madrid Open to Saudi Arabia, with significant financial incentives for players. Paul Annacone, former coach of Pete Sampras and Roger Federer, spoke about the importance of tennis leaders ensuring that any potential sale of the tournaments does not impose greater burdens on players regarding scheduling and extensive travel throughout the season. “There are lots of rumours about these two events and Madrid has recently been sold already and now it appears to be on the block again,” Annacone told the Tennis Channel.

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“Miami is in a relatively new venue and I for one hope that if IMG Endeavour needs to get rid of it, the new owners keep the events in relatively similar geographical locations,” he added. “It makes sense for Miami to be the week after Indian Wells in the States, and Madrid needs to be somewhere in Europe on clay.”