CVC Capital Partners has made a $1 billion bid to acquire the Miami Open and Madrid Open from Endeavor Group Holdings.. The offer would give CVC ownership of two of the most prestigious ATP and WTA tournaments outside of the Grand Slams, further expanding the firm’s presence in the global sports industry.
The Miami Open and Madrid Open are both ATP Masters 1000 and WTA 1000 events, meaning they rank just below Grand Slam tournaments in terms of prestige, prize money, and player participation. The Miami Open, held annually at Hard Rock Stadium, has long been one of North America’s most significant tennis events, while the Madrid Open, hosted at Caja Mágica, is a key stop on the European clay-court season ahead of Roland-Garros. Given their importance in the sport’s annual calendar, both events are considered valuable commercial assets.
CVC has been actively expanding its influence in professional tennis in recent years. The firm previously acquired a 20% stake in the Women’s Tennis Association (WTA) in 2023, investing $150 million to support the growth and commercial development of the women’s game. A successful bid for the Miami and Madrid Open would give CVC direct control over event operations, allowing it to integrate tournament management with its existing investments in the sport.
The potential acquisition aligns with CVC’s broader strategy of investing in high-value sports properties. The firm currently holds stakes in La Liga, Premiership Rugby, and the Six Nations, having invested billions in commercializing top-tier sporting competitions. If successful, the bid would mark CVC’s first direct ownership of elite-level tennis tournaments, solidifying its position as a key stakeholder in the sport.
For Endeavor, the sale represents a shift in strategy. The entertainment and sports conglomerate, which owns IMG, has been reviewing its event portfolio since late 2024, considering asset sales to focus on its core businesses. The Miami and Madrid Open, both owned and operated by IMG, are among the highest-valued properties under consideration. Selling these tournaments would allow Endeavor to reallocate resources, potentially toward its holdings in combat sports, including TKO Group (UFC and WWE).
Industry analysts believe that CVC’s investment could reshape how top-tier tennis tournaments are managed and marketed. Private equity involvement in sports has often led to increased revenue generation, new sponsorship models, and enhanced broadcasting deals. However, concerns remain about how such acquisitions might impact player prize money, tournament structures, and long-term sustainability.
If the deal is approved, CVC would gain control over two of the sport’s most valuable assets, potentially setting a precedent for further private investment in professional tennis. With commercial opportunities in the sport expanding—particularly as global streaming and digital rights evolve—CVC’s latest move signals a new era in how tennis events are operated and monetised.
The bid is still under review, with final decisions expected in the coming months. If successful, the acquisition could significantly influence how professional tennis tournaments evolve, particularly in their business models, sponsorship deals, and global expansion strategies.