Beemok Capital has entered into a definitive agreement to acquire Cincinnati’s Western and Southern Open from the U.S. Tennis Association (USTA). The firm, described as the “family office of Benjamin Navarro,” has not disclosed terms, but Sports Business Journal reports that early bidders had made offers ranging from $200 to $250 million. The transaction should wrap up in the third quarter once closing conditions have been met.
Beemok recently renovated Credit One Stadium in Charleston, South Carolina. The venue hosts the Credit One Charleston Open, which Beemok acquired in 2018. Beemok operates two other venues around Charleston. These host USTA Pro Circuit events, the USTA Girls’ 18s National Clay Court Championship and a tennis academy.
