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 The tournament, nearing its 30th year, attracts the world’s top
male and female tennis stars who help drive flocks of international
visitors and tennis fans to the ritzy island of Key Biscayne off
Miami where it is held.
“Itaú’s understanding of the international consumer experience,
innovation, entertainment value, and commitment to the growth of
tennis makes the company an ideal partner,” Miami Open Director Adam
Barrett said in a news release.
The tournament was previously named the Sony Open for the Japanese
electronics giant. A tournament spokesman on Tuesday told Reuters
Sony may remain a sponsor, though at a lower level. Next year’s
matches are slated to take place from late March into early April.
Miami is a hub for the international private banking operations of
Itaú, catering to high-net worth clients.
The city has also been a magnet for Brazilian tourism and
investment, attracting hundreds of thousands of Brazilian visitors
who spend more than a billion dollars annually, according to the
Greater Miami Convention & Visitors Bureau.
Brazilian fast-food chain Giraffa’s has opened a handful of
restaurants across the city and high-end furniture maker Artefacto
operates a pair of showrooms.
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“We see the Miami Open as a perfect platform to strengthen our
relationships with our clients around the world,” Itaú Marketing
Director Andrea Pinotti Cordeiro said in a statement.
Itaú is a prominent sports backer in Brazil, where it sponsors the
country's national soccer team and was the country's lead sponsor for
the recently concluded FIFA World Cup.
(Reporting by Zachary Fagenson; Editing by David Adams and Eric Beech)
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