USTA will sell Cincinnati tour stop to Ben Navarro, owner of WTA Charleston tournament
The tournament is not expected to move locations.
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The USTA has selected Ben Navarro, the owner of the WTA tournament in Charleston, as the buyer of the Western & Southern Open in Cincinnati, according to Sports Business Journal.
An exact price was not given, but the USTA received an offer as high as $250 million, and several other topping $200 million for the combined ATP and WTA event, said the report. Among the bidders were Peter Reichel, owner of the European Open in Hamburg and other events; Mark Ein, who owns the Citi Open in Washington, D.C.; and Mark Walter and Billie Jean King. There was also interest from private equity groups in acquiring the event.
The publication, citing sources, said approval was still required from the ATP and WTA Tour boards, including transferring the WTA sanction for the event leased from Octagon. The USTA owns the ATP event and the sanction, which it bought for $12.9 million in 2009.
The sale will not include the independently-owned tennis center where the tournament is played.
The USTA would not say who it had selected, but did confirm the sale of the Cincinnati event was "approved."
It follows the recent sale of the Madrid Open, another Masters event, to IMG.
Navarro, whose daughter, Emma, plays on the pro tour, bought Charleston in 2018. The tournament is not expected to move locations.