By Richard Pagliaro | @TennisNow | Tuesday, March 4, 2025
Photo credit: Miami Open/Hard Rock Stadium
CVC has made a billion dollar bid to become a major player in pro tennis.
CVC Capital Partners is offering $1 billion to buy the rights to two of the sport’s most prominent Masters 1000 tournaments: the Miami Open and Mutua Madrid Open, according to a Sky News report.
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Curent owner Endeavor was reportedly negotiating with Saudi Arabia for the rights to either Miami or Madrid or both in 2023 and 2024, however CVC has now emerged as the potential buyer with another round of bids coming, according to Sky News’ report.
CVC Capital is the former owner of Formula One. It sold its majority ownership in Formula One back in 2016.
An interesting aspect of the bidding prosect is that CVC is bidding against Endeavor chief Ari Emanuel for tournament rights.
In light of CVC’s bid “it was unclear whether Mr. Emanuel would seek external financing for his bid,” Sky News said.
The Raine Group is handling the bidding process.
It is reported other firms are interested in bidding for either both 1000 tournaments or issue bids for either Miami or Madrid alone.
The Miami Open is set for March 19-30th. The Mutua Madrid Open will be contested April 23-May 4th.
If CVC is successful in its bid, it would also acquire the Barcelona and the IMG-Endeavor grass-court exhibition at the Hurlingham Club in London held before Wimbledon.
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