Romanian tycoon Ion Țiriac, aged 82, has sold the Mutua Madrid Open tournament to IMG company. The transaction is expected to be completed in the first quarter of next year. This requires ATP and WTA approval.The financial details of the transaction were not disclosed.
The Caja Magica competition is in the WTA 1000 and Masters categories, respectively, and over time big names such as Rafael Nadal, Novak Djokovic, Roger Federer and Serena Williams have established themselves in the Spanish capital. Simona Halep also has two titles at Caja Magica: 2016 and 2017.
The 20th edition of the Iberian competition will take place in Madrid between April 26 and May 8, 2022.
IMG, an Endeavor company and global leader in sports, events, media and fashion, also owns the Miami tournament (WTA 1000 and Masters, respectively) since 2014. The tournament has been moved from Key Biscayne to Hard Rock Stadium under IMG.
“The Mutua Madrid Open will be a strong addition to our global events portfolio and tennis business, which will now boast two of the three mandatory combined events on both tours,” said Sam Zussman, Co-President of Media and Events, IMG. “We’re looking forward to leveraging Endeavor’s broader network to further enhance the fan experience and add value across production, media, brand partnerships, retail, and hospitality, just as we’ve done with the Miami Open.”
MTP also runs the European Tour’s Acciona Open de España golf tournament, which IMG’s golf events division will support. Founded in 1912, The Acciona Open de España (formerly the Spanish Open) is rich in history and typically takes place in October at the Club de Campo Villa de Madrid where it is broadcast to more than 120 countries.