NEW YORK: IMG Thursday announced it has sold its 50% interest in the ATP 500 Rio Open tournament to Mubadala Capital. Following the sale, the Abu Dhabi sovereign wealth fund now has 100% ownership of the ATP 500 Rio Open.
IMG’s stake in the tournament was sold in compliance with the ATP’s rules on tournament ownership, following the company’s acquisition of the ATP and WTA 1000 Mutua Madrid Open in April 2022. The Spanish event bolstered IMG’s portfolio of leading tennis tournaments, which also includes the ATP and WTA 1000 Itaú Miami Open and several other ATP and WTA events.