CVC Capital Partners, a prominent private equity firm, is making headlines with its $1 billion bid to acquire a portfolio of tennis assets, including the prestigious Miami Open and Madrid Open. These tournaments, which feature some of the world’s top male and female tennis players, are currently owned by Endeavor Group Holdings.
The bidding process has attracted interest from several other private equity firms and wealthy individuals. If successful, this acquisition would mark CVC’s first foray into owning major tennis tournaments.
CVC already has a significant presence in professional tennis through its commercial joint venture with the Women’s Tennis Association (WTA), where it invested $150 million. The firm’s interest in expanding its portfolio to include the Miami and Madrid Open underscores its commitment to investing in the sport.
The Miami Open is set to begin on March 16, while the Madrid Open will start on April 21. Both events are part of the ATP Masters 1000 Series and WTA 1000 events, which are just below the four annual Grand Slam tournaments in the tennis hierarchy.
This potential acquisition highlights the growing interest of private equity firms in the sports industry, as they seek to capitalize on the commercial opportunities presented by high-profile events like the Miami and Madrid Open.