MASON, Ohio — Upgrades at the Cincinnati Open are drawing rave reviews this week from fans of the Mason tennis complex, which has completed about 15% of its planned $260 million renovation.
Cameron Hall of West Chester applauded one thing that hasn’t changed.
“The price wasn’t too bad,” said Hall, who has attended about a dozen tournaments since his days as a ball boy at the Lindner Family Tennis Center. “I was expecting it to be like a big price increase, but it really wasn’t too bad. It was about what I paid last year for the same section.”
And that’s by design, according to Bob Moran, president of Beemok Sports and Entertainment. The company has used corporate sponsorships, luxury suites and air-conditioned courtside seats to boost average ticket prices without charging more for upper-deck seats.
“We’re really working hard to keep our upper seats at the same pricing,” Moran said. “At the end of the day, this is a legacy in tennis that we’re building here. That outweighs the financial side.”
The Cincinnati Open business plan is coming into focus, as South Carolina billionaire Ben Navarro tries to make good on a $405 million investment.
The founder of Charleston-based Beemok Capital paid the U.S. Tennis Association $275 million in 2022 for the rights to host the annual tournament. Last October, Beemok announced an additional investment of $130 million, which was matched by state and local governments in Ohio.
But instead of seizing every revenue opportunity to generate a quick return, Navarro is demonstrating patience by not boosting the tourney’s lowest-price tickets and passing — for now — on a naming rights deal that could be worth millions.
“We’re really happy with the way this tournament sets up right now with our cornerstone partners,” Moran said.
A naming rights deal seemed a likely scenario last October, when Beemok Capital announced it would expand the Mason campus instead of relocating to Charlotte. Two days later, Cincinnati’s Western & Southern Financial Group announced it would end its 22-year run as the tournament’s naming rights sponsor so Beemok Capital could seek a new naming rights partner.
“That will go for much higher numbers to somebody else, probably not in the region,” Western & Southern CEO John Barrett said at the time.
One expert said Beemok Capital could fetch up to $30 million by selling those rights.
But in January, Beemok announced it would return the tournament to its roots by calling it the Cincinnati Open. And in July, Beemok announced it was “forgoing the typical title and presenting sponsorship model” in favor of “cornerstone partners” arrangements with Navarro’s Credit One Bank and five Cincinnati-based companies: Western & Southern Financial Group, Great American Insurance Group, Procter & Gamble Co., Fifth Third Bancorp. and Kroger Co.
Moran declined to reveal how much each of the cornerstone partners pledged to the tournament. But he expects its overall sponsorship revenue to double because of the arrangement.
“When you look at those revenue streams, you have ticketing, sponsorships and media partners,” Moran said. “We’re very much on par with everybody else on our ticketing, hospitality and media. However, we were lacking on the sponsorship side. That was one area where we really needed to change to make sure we were at the same level with all the other masters events.”
It was widely reported last October that Cincinnati-based companies pledged $10 million in 2024 sponsorships to help retain the tournament. Moran said some of those partners signed multi-year deals, while others are still thinking about longer-term arrangements. That’s why his top priority now is keeping those cornerstone partners happy — not finding a naming rights sponsor.
“We would love to keep it as the Cincinnati Open,” Moran said. “Now (if) someone says, ‘Hey, we really want to be part of this and we’re willing to invest with you.’ We’ll always take those conversations. But our intentionality is absolutely keeping it the Cincinnati Open.”
In the meantime, Beemok is leveraging those corporate sponsorships into new premium-seating opportunities.
“We sold all our suites in the stadium this year for the first time, which is great,” Moran said. “But we needed more inventory. So, we built the P&G Grandstand suites, which are about 85% sold out today.”
P&G would not say what it paid to put its name on the tennis center’s grandstand. But Moran said the new suites will help the tournament achieve a 50% increase in luxury-box revenue by next year. The P&G suites, which sell for $75,000 each, boost its total inventory to 23 seats this year. The figure will climb to 27 next year when the tournament will expand to 12 days and 96 players — up from nine days and 56 players this year.
Other premium-seating options include the Fifth Third Advantage Club, which offers access to a “premium buffet” and private elevator, restroom and bar service. The Oasis outdoor lounge is a shaded space, sponsored by the Italian charcuterie vendor Veroni, that includes “modern decor and luscious hanging gardens inspired by coastal Italy.”
But the most expensive seats in the house are not tied to a corporate sponsor. Those are the Baseline Premier Seats, which are courtside club seats equipped with air conditioners and coolers that hold water and towels.
The Cincinnati Open is the first outdoor venue to debut these climate-controlled seats and Moran says they’re endorsed by Andre Agassi.
“We put some players down in there to test it for us,” Moran said. “He thought it was fantastic. So, that’s a pretty good endorsement, I’d say.”
The 192 seats cost $7,500 each for the week. And they’re sold out, which means they’re generating $1.4 million for the tournament this year.
