BNP Paribas has extended its title sponsorship of the BNP Paribas Open tennis masters for another five years, making the multinational bank the longest-running title sponsor in the event’s history.
BNP Paribas began its sponsorship of the event in 2009, which will now carry on until at least 2029. Along with its title sponsorship designation, since 2016, the bank has been running the annual BNP Paribas Open Scholarship – a $20,000 grant awarded each year at the tournament to four high school students in the Coachella Valley.
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José Placido, chief executive of BNP Paribas USA, said: “Renewing the BNP Paribas Open contract is a testament to the continued growth of this event as well as the partnership between the tournament and BNP Paribas.
“The bank’s commitment to promoting tennis at all levels has made us a trusted partner in tennis and stakeholders, including BNP Paribas clients and staff, making the BNP Paribas Open our marquee tennis event here in the Americas.
“This agreement ensures the tournament will continue to attract top players, provide a world-class experience for attendees, and contribute to the local Coachella Valley economy, including helping the next generation of players.”
The tournament has seen considerable growth since BNP Paribas first signed on 17 years ago, consistently drawing large crowds to the Indian Wells Tennis Garden, including a slew celebrities from nearby Los Angeles.
Its growth can be attributed to American billionaire and tennis enthusiast Larry Ellison, who purchased the tournament and venue in 2009. Since then, he has pumped tens of millions of dollars into building out the tournament and upgrading the Tennis Garden.
The news comes a day after the men's singles final, which saw Britain's Jack Draper beat Denmark's Holger Rune. On the women's side, Russia's Mirra Andreeva fought back from a set down to overcome world No 1. Aryna Sabalenka during Saturday's final.
BNP Paribas also serves as the official sponsor of the French Open grand slam tournament at Roland Garros, Queen’s in England, the Monte-Carlo Masters, the Italian Open, and the Moselle Open.
