French bank BNP Paribas has agreed a deal to become title sponsor of the prestigious Indian Wells tennis tournament in California. The event will be called the BNP Paribas Open, starting this year, when it takes place on March 9th to 22nd.
The deal is initially for five years, with an option to extend for a further five years, which would take it up to 2018, according to Californian newspaper The Desert Sun.
The Los Angeles Times newspaper quoted Ray Moore, a partner in the events’ operational company as saying the decision to end the previous title sponsorship with American insurance company Pacific Life, “was made last June and it was with some trepidation”. The newspaper reports that the event did not have a replacement sponsor lined up, but made the decision because it felt the Pacific Life sponsorship fee did not reflect the international status of the competition.
BNP Paribas’ other tennis sponsorships include the French Open, Davis Cup and Federation Cup.
This year, Indian Wells will become the seventh major tennis event to offer equal prize money for men and women, $4.5 million each. It is also adding an additional night session, which the Los Angeles Times reports could push the attendance figure above last year’s 330,000, which was beaten only by the four Grand Slam events.
