Sampras fires a winner

Among the many titles that tennis star Pete Sampras collected during his storied career.

Among the many titles that tennis star Pete Sampras collected during his storied career were two victories at the Pacific Life Open in Indian Wells, California. Now he owns a piece of the tournament. Sampras, 34, who grew up in the Los Angeles suburbs, joined fellow legends Chris Evert and Billie Jean King as part of an investor group that last month bought 50 percent of the event from sports management firm IMG.

The deal prevented the potential relocation of the tournament to Shanghai or Doha, Qatar; both cities had approached IMG about buying the rights. For the investor group -- which also includes the U.S. Tennis Association and Aspen, Coloradobased Calim Private Equity -- keeping the event from moving is just as important as making a healthy return. Unlike most big tournaments, which are owned by clubs or sport federations, the Indian Wells competition was founded by former players. Ex-pros Charlie Pasarell and Raymond Moore took over the event in 1981 and still own 50 percent.

The buyout group hopes that retiring debt, including $39 million in high-yield mortgage bonds, will squeeze more profits out of the Open, the world’s fifth-best-attended tennis tournament behind the four Grand Slam events: Wimbledon and the Australian, French and U.S. Opens. They had a promising start. More than 270,000 fans attended this year’s Open, which ended March 19 with Russian prodigy Maria Sharapova and Switzerland’s Roger Federer as champions. “It was an intriguing deal, bringing together superstars with astute financial people,” says Patrick Imeson, Calim Private Equity’s co-founder.

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