The tournament stays, but not the name at Western & Southern Open

CINCINNATI — Western & Southern Financial Group is relinquishing its role as the title sponsor of Greater Cincinnati’s beloved tennis tournament. This decision was part of a deal that prevented the Western & Southern Open from moving to Charlotte.

The details surrounding future sponsorship changes remain unclear, but Western & Southern CEO John Barrett indicated that the company will no longer hold the naming rights for the tournament, a position it has held for 22 years.

“We anticipate that another entity, likely outside our region, will acquire the naming rights for much higher figures,” Barrett stated. “Our primary concern was to ensure the tournament stayed in Cincinnati, so we were willing to step back and relinquish the naming rights.”

Beemok Capital, the owner of the Cincinnati Masters tournament since 2022, has not provided any details regarding the change in naming rights. However, they released the following statement:

“We are embarking on a new era for this historic tennis tournament. With significant investments and new partnerships, our aim is to leverage its rich history and secure its position as one of the world’s top tennis competitions. While exploring enhancements that will position the tournament nationally and internationally, we remain committed to the Cincinnati community and the partnerships that enabled it to stay here.”

Beemok recently announced that the prestigious tournament will continue to take place in Mason after receiving a pledge of $130 million in public funding from state and local governments for a $260 million expansion of the Lindner Family Tennis Center near Kings Island. This agreement was documented in a non-binding memorandum of understanding approved by the Warren County Commissioners on Tuesday.

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As part of the 2024 tournament, Western & Southern joined four other local companies in pledging $10 million in corporate sponsorship. For the 2025 event, the tournament is expected to undergo a temporary name change as Beemok seeks potential naming rights partners.

The value of the naming rights will depend on whether potential bidders perceive the tournament as a regional or global event, according to Adam Beissel, an assistant professor at Miami University who specializes in sports business.

“I anticipate a deal of approximately 20 years, worth $20 to $30 million over its duration, translating to about one to $1.5 million annually,” said Beissel. “These naming rights deals are not solely about return on investment or brand expansion. They primarily offer the perks of entertaining clients and rewarding consumers. And what better way to seal a deal than with courtside seats.”

Felicia Jordan

While the tournament is already considered one of the world’s nine largest events where both men and women compete simultaneously as an ATP Masters 1000 and WTA 1000 competition, it will expand from nine to 12 days and feature 96 players instead of the current 56 in the singles draw starting in 2025. According to Barrett, the extended format combined with international television coverage increases the tournament’s appeal to global brands.

Western & Southern has been a sponsor of the tournament since 2001, establishing one of the tennis world’s longest-running partnerships.

“Over the past two decades, we have heavily invested in elevating the women’s tennis tournament from a level three event to a top-tier competition. It now runs concurrently with the men’s tournament, a rarity worldwide,” Barrett mentioned. “This historical significance is one of the reasons we attempted to acquire the tournament ourselves, before ultimately being outbid by Ben Navarro, the owner of Beemok. We had big plans to infuse heart and soul into the tournament, beyond just being a sponsor. There were numerous improvements we wanted to make, including the music, food, and overall ambiance.”

Barrett admits that stepping away from the title sponsorship position won’t be easy, likening it to seeing your child graduate college and move away. However, he reflects on the past 22 years with pride and without any regrets.

The tournament stays, but not the name at Western & Southern Open