Romanian billionaire Ion Tiriac could sell his Madrid Open tournament

Romanian investor and former tennis player Ion Tiriac is currently negotiating to sell the tennis tournament in Madrid, which is part of the ATP World Tour Masters. The value of the transaction could be over EUR 200 million, according to sources familiar with the talks, cited by local Profit.ro. A few months ago, Tiriac said that Madrid Open, which is organized in May every year, generated total revenues of over EUR 200 million in 2015. He added that the tournament brought him a net profit of EUR 35 million this year. He spoke about a possible sale of the tournament after the ATP asked him to increase the prize in men’s category by 80% from USD 4.2 million now to USD 7.4 million. Madrid Open is one of the nine ATP World Tour Masters 1000 tournaments. editor@romania-insider.com