Ari Emanuel’s Mari Acquires Major Tennis Portfolio, Signaling shift in Sports Ownership
A newly launched sports and entertainment firm, mari, has officially entered the market with a meaningful acquisition: a portfolio of top-tier tennis tournaments including the Miami Open and the Madrid Open. The deal, finalized after being initially reported in april, reflects a growing trend of consolidation and investment in premium live sports and entertainment properties.
Mari, spearheaded by Endeavor chief executive and co-founder Ari Emanuel, now controls a diverse range of ATP and WTA events. Beyond the Miami and Madrid Opens,the portfolio includes the Abu Dhabi Open,the Citi DC Open,and the SP Open on the women’s tour. The company will also manage several major ATP men’s tournaments,such as the Chengdu Open,the Hong Kong Open,the Japan Open,and the Rio Open,and also exhibition events like the giorgio Armani Tennis Classic and the MGM Macau Tennis Masters.
This sale marks a rare instance of two of the largest tennis tournaments outside of the four Grand Slams changing hands. The process was facilitated by The Raine Group and is connected to a larger agreement where Silver Lake will take Endeavor private, a transaction expected to be completed in the coming months. Discussions regarding the potential sale of these tennis properties began as early as last October.
According to a company release, Emanuel and Mark Shapiro will jointly guide Mari’s strategic direction and growth, focusing on building a collection of “iconic brands.” The day-to-day operations will be overseen by a dedicated executive team, including Matt Cohn as managing partner and Ben Enowitz as chief financial officer, with existing event leadership remaining in place.
The investment group backing mari is extensive, featuring funds managed by Apollo, RedBird Capital Partners, Qatar investment Authority, HSG, IMI media group, Ares Management funds, Dr. Patrick Soon-Shiong, a16z Growth, Nancy Zhang, Forta Advisors, Main Street Advisors, and Causeway Media Partners. Notably, the Miami Open deal also incorporates the ownership group behind the NFL’s Miami Dolphins, Hard Rock Stadium, and the Formula 1 Miami grand Prix as principal investors, including Stephen Ross, the majority owner of the Dolphins and hard Rock Stadium, and additional funds managed by Ares.
Mari’s ambitions extend beyond tennis, with recent acquisitions including contemporary art institution Frieze and a majority stake in automotive lifestyle brand Barrett-Jackson. Emanuel emphasized the evolving preferences of consumers, stating, “As people increasingly value experiences over things-and as hybrid work and AI give us more time to enjoy them – sports, art, lifestyle, and entertainment are becoming even more essential.” He envisions Mari as a platform for creating new avenues for audience engagement and shared passions.
Gerry Cardinale, founder and managing partner of RedBird capital, added that Mari is “well-positioned from inception to capitalize on the secular growth and convergence of premium intellectual property across sports and live event Entertainment.”
Interestingly, IMG, previously part of the Endeavor empire, sold it’s 50% share in the ATP 500 Rio Open men’s tennis tournament to Mubadala Capital, an Abu Dhabi-based investment firm, in 2023.
Recent tournament results highlight the prestige within Mari’s new portfolio. This year’s Miami Open, held between March 16 and 30, saw Aryna Sabalenka claim the women’s singles title and Czech teenager Jakub Mensik emerge victorious in the men’s singles competition
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