Larry Ellison's Other Sporting Passion: Tennis
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Larry Ellison's Other Sporting Passion: Tennis
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Larry Ellison's Other Sporting Passion: Tennis
Most people who follow the jet Linear actuatorset life of Larry Ellison, Oracle (ORCL) co-founder and chief executive, know that#x he is a passionate sailor, with BMW Oracle Racing's successive America's Cup title fresh in hand. Less well-known is that the software billionaire is almost as crazy about racquets as he is about boats. The BNP Paribas Open, now underway in Indian Wells, Calif., through Mar. 21, is Ellison's most recent sports acquisition. It's a testament to his love for tennis.
Ellison's purchase of the 35-year-old tournament and the Indian Wells Tennis Garden facility, completed last fall, is thought to have been in the $100 million range. It includes a four-year operations-management contract with Charlie Pasarell and Ray Moore, who have run the event since its inception and kept it from moving overseas by bringing in a group of high-profile investors, including tennis greats Pete Sampras, Billie Jean King, Chris Evert, and the USTA.
The Open—BNP Paribas (BNP:FP) took over Linear actuatorits naming rights from Pacific Life, starting last year—is often referred to as tennis' "fifth major " because of its stature on the tennis calendar and the record crowds it draws. Attendance in 2009 topped 332,498 spectators during its two-week run. The central 16,100-seat stadium, the second-largest tennis stadium in the U.S., after Arthur Ashe in Flushing Meadows, N.Y. (which can hold up to 23,200 people), is often filled to capacity, especially for evening matches when springtime desert temperatures become more bearable.
The field of athletes is as impressive as the venue, with the world's top 300 players vying for $9 million in prize money this year.
With 300 of the best men and women converging at Indian Wells, you can have a ring-side seat and practically rub elbows with the present champions as you watch them practice, train, and play on the sunken or grandstand courts within the majestic grounds or on the world's second-largest stadium court. Rafael Nadal will be defending consecutive titles #xwhile unretired Belgians Kim Clijsters Linear actuatorand Justine Henin are expected to stir up some desert dust.
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