The two prestigious ATP/WTA Masters 1000 tournaments are now under the ownership of a new consortium that includes AC Milan`s top executive and other key investors.
Gerry Cardinale, 58 years old. (Photo: Ansa)
A significant shift in the world of tennis ownership has occurred, with the prestigious Masters 1000 tournaments in Miami and Madrid finding a new proprietor. These high-profile events will no longer be operated by the global sports and media conglomerate IMG, which is currently undertaking a strategic streamlining of its investment portfolio. Instead, the tournaments will now be managed by Mari, an international entity specializing in events and experiences.
Mari is a robust consortium that prominently features Gerry Cardinale, the principal owner of AC Milan, through his investment firm RedBird Capital Partners. The comprehensive tennis package secured by Cardinale and his partners extends well beyond just the two aforementioned Masters 1000 events. Their diverse group of associates also includes notable basketball stars such as Luka Doncic, Anthony Edwards, and Sabrina Ionescu, indicating a broad and ambitious interest in various facets of sports and entertainment.
An Expansive Portfolio of Tournaments
Mari is led by its founder, Ariel Emmanuel, and comprises numerous influential investors. Beyond acquiring IMG`s tennis tournaments, the consortium has also successfully secured the global arts organization Frieze`s package and a controlling stake in Barrett-Jackson, a highly recognized brand specializing in collector car auctions. This diversified acquisition strategy underscores Mari`s expansive ambitions across multiple entertainment sectors.
Consequently, under the unified control of Emmanuel, Cardinale, and their collaborators are not only the high-profile ATP and WTA 1000-point events in Madrid and Miami but also the Mubadala Abu Dhabi Open. Their extensive holdings further encompass tournaments in Washington, Sao Paulo, and the organization of prestigious exhibition events like the Giorgio Armani Tennis Classic and the Macau Tennis Masters. The impressive portfolio additionally includes the Chengdu Open, the Hong Kong Open, the Japan Open in Tokyo, and the ATP 500 in Rio de Janeiro. This acquisition effectively covers a substantial segment of the global tennis calendar, with events strategically spread across much of the competitive season.
Focus on Growth and Entertainment
Ariel Emmanuel articulated his vision for these significant acquisitions in a recent statement, emphasizing that “Live events and experiences have never held such significant power. Miami and Madrid provide us with an exceptional opportunity to innovate new ways for spectators to engage and come together.”
Gerry Cardinale echoed this sentiment, stating: “RedBird has been collaborating with Ari and Mark for several years. We are incredibly enthusiastic about our role in establishing Mari. With the addition of the prestigious Madrid and Miami Opens, Mari is strategically positioned to capitalize on the substantial growth within the sports and live entertainment sectors – areas where RedBird consistently offers industry leadership and profound expertise.”
