WRE News: Endeavor Weighs Sale of Miami Open as Part of IMG Restructuring

Miami, FL – October 26, 2024 – Endeavor may soon part ways with the Miami Open as it looks to reshape its business focus.

As the entertainment giant plans to go private, it’s reviewing the potential sale of high-profile events like the Miami Open, currently part of its IMG division. This comes as Endeavor aims to concentrate on its core entertainment agency, William Morris Endeavor, while exploring asset sales including IMG’s art exhibitions and tennis tournaments.

Endeavor’s shift also involves selling its sports betting and tech businesses, aligning with a go-private deal involving Silver Lake, expected to finalize by early 2025. The company has tapped Raine Group to oversee the exploratory sales process for IMG events, though no specific timeline has been established, and there’s no guarantee any sales will occur.

With the Miami Open seeing record-breaking attendance in recent years, Endeavor’s leadership expressed confidence that the tournament, along with others in its portfolio, is positioned for continued growth regardless of ownership.