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.
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.
“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.”