USTA to Sell Ownership of The Prestigious Tennis Tournament in Cincinnati

With the Grass court season coming to an end; the ATP and the WTA tour are now gearing up for the North American tennis hardcourt swing. The swing is considered by many to be one of the most anticipated parts of the tennis calendar. Reason? The collection of iconic tournaments one after the other. One of them being Cincinnati Masters.

While all the tournaments are preparing to host the tennis world, the Western & Southern Open (Cincinnati) is set to incur a major change this year. After much scrutiny, yesterday, the 27th of July, the United States Tennis Association (USTA) finally picked the bidder to buy the ATP Tour sanction and lease in the WTA Tour sanction of the Cincinnati Open.

Ben Navarro to take ownership of the Cincinnati Masters

According to the Sports Business Journal, the apex body of American tennis has selected businessman Ben Navarro as the buyer of the Cincinnati Open. Navarro is the founder and CEO of the Sherman Financial Group. Going back in time, in 2018, he made the headlines for buying the WTA 500 Charleston Open.

Also read- Emma Raducanu Teams Up With Russian Coach as She Bids to Defend Her US Open Title

The news of Navarro has reportedly been put out by the Sports Business Journal after confirmation from numerous sources; the deal amount is yet to be announced. Nevertheless, it is reported that USTA received offers as high as $250 million for the tournament.

Even though USTA opted to refrain from commenting on the claims, it made sure to make an official statement. It said, “Following a comprehensive process led by Bank of America, the USTA Board of Directors has approved in principle the sale of the men’s ATP Masters 1000 and the transfer of the lease for the concurrent WTA tournament held in Cincinnati. 

Going ahead, the body further opened up about the procedure and the remaining steps of the deal; before it could make the official announcement. “Prior to formally announcing a new owner, the USTA must conclude the final terms of the agreement, and the ATP and WTA Tours must approve the transfer of the two sanctions. Once these processes are completed, a formal announcement will be forthcoming,” it added.

Watch this story- Australian open 5-times Roger Federer lost his cool and argued with the chair umpire

Making out from the statement, the iconic deal seems to be in its final phase; with approvals awaited from the ATP and the WTA board of directors. Walking down memory lane, the tournament, which started in 1899, had its ATP event sold to the USTA in 2009 for $12.9 million.

While more details are awaited about the deal, it is clear that the deal does not include the venue of the tournament. The Lindner Family Tennis Center. With the deal in place, it would be a thing to see if it makes a difference in the tournament. The Cincinnati Open is set to take place on the 14th of August.