IBJNews

Tennis officials confirm sale of tournament

Back to TopCommentsE-mailPrintBookmark and Share

Officials with the Indianapolis Tennis Championships on Monday morning confirmed that they are selling the rights to host an annual men's professional tennis event that has roots in Indianapolis dating back to 1920.

ITC Director Kevin Martin said he has “explored every conceivable scenario” to keep the ATP Tour event, which is now held at the Indianapolis Tennis Center on the IUPUI campus.

ITC officials put out a press release this morning in response to an article about the event's move in this week’s Indianapolis Business Journal.

The event lost its title sponsor, RCA, following the 2006 tournament and subsequently lost its television deal with NBC. Attendance declined from near 100,000 in its heyday 15 to 20 years ago to just more than 41,000 in 2009.

U.S. Tennis Association officials told IBJ that the USTA’s Southern Section had bought the sanction for the tournament and planned to move the week-long event to the Atlanta Athletic Club in 2010, but Martin said no deal has been finalized.

“We are still in discussions with several different groups,” Martin said.

A Georgia-based marketing firm, The Forward Agency, last week began advertising sponsorships for the tournament in Atlanta.

“I don’t know where they got their information,” Martin said.

Those Internet ads have since been pulled.

Officials with the USTA’s Midwest Section in Indianapolis said they looked into buying the rights for the event, but decided they couldn’t afford to take an equity stake.

Martin declined to say how many groups ITC officials are negotiating with nor would he name the groups. He conceded that the event is in all likelihood heading out of Indianapolis.

The ATP has final approval over the sale of the tournament’s sanction.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

ADVERTISEMENT