Ad-Out: Indian Wells Tourney Drops Pacific Life As Title Sponsor
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Indian Wells Tennis Tourney Dropping
Pacific Life As Title Sponsor |
The Indian Wells, California, tennis tournament has dropped Pacific Life as title sponsor after seven years. The former Pacific Life Open, the second largest by attendance in the U.S., and the fifth largest in the world, is seeking a replacement. "Pacific Life recently offered to extend its term, however, the tournament decided to pursue
other potential title sponsors that will align with the tournament's strategic plans for continued growth," said Steve Simon, the tournament's COO (Daniel Kaplan, SportsBusiness Journal). Simon "hopes to have a new title sponsor lined up by the end of August" (DESERTTELEVISION.com, 8/7). Simon said that the tournament "has been in talks with several companies, but did not have a timetable as to when they would secure a title sponsor." Simon declined to discuss specifics, and said that tournament officials are "looking for at least seven figures per year over three to five years." Simon added that, if necessary, the tournament is "prepared to go without a title sponsor, even though the event is committed to increase prize money by $3.2[M]." In California, Leighton Ginn notes the event also "has 22 smaller sponsors." Simon said that the "lack of a title sponsor will be no factor" on the tournament's existence, as it is "on firm financial ground with strong investors, including the city of Indian Wells" (Palm Springs DESERT SUN, 8/7).
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