The USTA has taken majority ownership of the ATP event in Memphis to keep the tournament in the city, reports the Memphis Commercial Appeal.
David Brewer, the U.S. Open tournament director, told the paper that the ATP board had approved the sale. The USTA had bought the tournament to keep it "in the United States, and more importantly, in the market it's been all these years," he said.
The tournament was previously owned by Sharks Sports and Entertainment, which had an ATP 500 event in Memphis and a 250 event at San Jose. The group sold the 500 event a year ago to organizers from Rio, and moved the 250 event to Memphis. It also owned the Memphis Racquet Club, which was sold to the club managers.
The United States now has only 11 ATP events, with two tournaments moving to South America during the previous two years. The Memphis tournament is looking for a new tournament director and a new title sponsor, preferably a local company. "We have some ground to make up," Brewer said.