Madrid Open

The Madrid Open, sponsored by Mutua Madrileña and so known as Mutua (Madrileña) Madrid Open, is a joint men's and women's professional tennis tournament, held in Madrid, during early May. The clay court event is classified as an ATP World Tour Masters 1000 on the Association of Tennis Professionals tour and a Premier Mandatory event on the Women's Tennis Association tour. In the past it has also been known as the Madrid Masters. The tournament is traditionally played on a red clay surface. Despite having been played on blue courts in the 2012 tournament edition the ATP decided against it for the 2013 edition.Ion Țiriac, a Romanian former ATP player and now billionaire businessman, is the owner of the tournament since 2009. Țiriac stated that he has an annual net profit of over €35 million and that his tournament brings to Madrid revenues exceeding €200 million.HistoryFrom its inauguration as a men's only event in 2002, the tournament was classified as one of the ATP Masters Series tournaments. It was held from 2002 to 2007 in the Madrid Arena as the first of two Master's indoor hard court late season events that preceded the ATP Tour Finals (also indoors). In 2009, tournament was transformed, expanding to include a premier women's contest and shifting to an earlier period of the tennis season to become the second Master's tournament of the spring European clay court swing; and moving outdoors to Park Manzanares, where a new complex with a retractable-roof equipped main court was constructed, the Caja Magica.