CHARLOTTE, N.C. — Western & Southern Open, a tennis tournament sought after by Charlotte officials, will stay in Cincinnati despite a bid for a new stadium and facility in west Charlotte.
Beemok Capital, the family office of Charleston-based businessman and philanthropist Benjamin Navarro, announced Tuesday the decision to keep the tournament at the Western & Southern Open at the Lindner Family Tennis Center in Mason, just outside Cincinnati, for another 25 years.
Instead of paying nearly $300 million on building a new state-of-the-art facility in Charlotte's future River District, Beemok will instead invest $200 million in upgrades to its current Mason facility.
“The leaders in Charlotte and the state have been incredible partners as we’ve evaluated our options. This was a very difficult decision, and we are deeply appreciative of the time, energy and resources that were invested alongside us,” Navarro said in a released statement. “We have strong ties to the area and will look for ways to invest in the community and local tennis development in the future.”
Beemok Capital began exploring new homes for the tournament after acquiring the competition from the United States Tennis Association in 2022.
The tournament will generate an estimated $300 million for the host city's local economy each year once it expands to a two-week-long event in 2025. previous estimates suggested.
Beemok Capital was exploring the future River District in west Charlotte, where a brand-new tennis complex could be built. The project was estimated to cost around $400 million.
“We want to put our best foot forward in terms of public investments," Charlotte city councilman Malcolm Graham previously told WCNC Charlotte. "We also want to help with any infrastructure in the River District area.”
WCNC Charlotte previously reported Ohio lawmakers were offering $25 million -- and the city of Mason and Warren County were offering $25.5 million to Beemok for the facility upgrades. To convince Beemok to move to the Queen City, Charlotte and Mecklenburg County leaders were offering $95 million to help build its new facility.
North Carolina lawmakers pledged an additional $20 million in the next two fiscal years.
Graham told WCNC Charlotte the city's money will stay in its tourism fund and it has not lost money on the project.
"Cities compete against one another all the time and we only can control what we can control here in Charlotte-Mecklenburg," Graham said.
Although Graham and many others are disappointed in the decision, he is optimistic another opportunity is around the corner.
"Charlotte remains a good destination for sports and entertainment," Graham said. "So, hopefully in the future, there'll be other opportunities that can consider the River District being its home."
Contact Julia Kauffman at jkauffman@wcnc.com and follow her on Facebook, X and Instagram.