By Chris Oddo | Wednesday April 3, 2019
Entrepreneur Mark Ein steps up to take managerial control of the Citi Open, keeping it in Washington, D.C.
Photo Source: Citi Open
Entrepreneur, philanthropist and tennis advocate Mark Ein has swung a deal to acquire the management rights of the Citi Open in Washington, D.C. The event, which was reportedly bid on by many suitors, is the only ATP 500 event played in the U.S. and one of only five professional tennis events that feature the WTA and ATP Tours playing side by side.
🎙️🚨 Podcast Alert: Hall of Famer Flink on Federer's Miami Revival 🎙️🚨
Ein, who also owns the WTT’s Washington Kastles, secured the management rights from the Washington Tennis & Education Foundation (WTEF), a non-profit which provides free tennis and educational programs for children in underserved communities in Washington, D.C. WTEF, which has raised millions for youth tennis since the tournament’s inaugural year in 1969, will still play a large role in the event. While terms for the management deal were not disclosed, Ein reportedly has the option to buy the tournament within five years.
Ein has also extended the tournament’s longtime sponsor, Citi bank, for another year.
Several changes were immediately announced. The Citi Open will rejoin the U.S. Open Series for the first time since 2014, while Ein also announced a five-year extension of the Citi Open’s broadcast deal with Tennis Channel.
"We have big plans for this tournament, all centered on making the Citi Open an unmatched experience that will appeal to and be affordable for all Washingtonians making it the place to be for each of those nine days and nights in D.C.," said Ein.
The tournament is played at the Rock Creek Park Tennis Center, which is operated by the National Park Service. According to PR Newswire, Ein says the first priority will be to address upgrading the 50-year-old stadium and grounds so that they may be sufficient to secure a long-term future for the event in the nation’s capital.
"We have big plans for this tournament, all centered on making the Citi Open an unmatched experience that will appeal to and be affordable for all Washingtonians making it THE place to be for each of those nine days and nights in D.C.," said Ein.
Ein added: "We are committed to making this one of the most player-friendly tournaments on tour with new concierge and player services that will significantly enhance the athletes' overall experience while playing in the event and being in Washington, D.C., one of the most popular tourist and visitor destinations in world."