Larry Ellison Buys Tennis Event and Stadium

Tech entrepreneur Larry Ellison is no stranger to living an haute lifestyle and enjoying the luxuries his billions can buy, and this week he has added to his opulent collection of goodies when he announced that be bought the ATP-WTA Indian Wells Masters event and the stadium where the tennis matches will be played.

Larry Ellison is an American entrepreneur and the co-founder and CEO of Oracle Corporation, a major enterprise software company. He currently sits comfortably on the Forbes list of billionaires as the fourth richest person in the world, as of September 2009. With an estimated net worth of $27 billion, Ellison certainly knows that with extreme fortune comes extreme opportunities to enjoy life to the fullest.

Known as a yacht racing enthusiast, Ellison also has an inkling for tennis, which was demonstrated by his recent purchase of the Californian desert tennis event, the Indian Wells Masters.  He not only purchased the event, but he also purchased the stadium where the event will be held this year from March 8 through 21. He bought the tournament and its grounds at Rancho Mirage from owners and founders Charlie Pasarell and Raymond Moore, both former players and principals of PM Sports Management.

It’s reported that Ellison may have spent as much as $100 million on the facility, but for Ellison it was worth it. He is noted as saying he “loves tennis and looks forward to being in Indian Wells each March to host the tournament.”

According to reports, Indian Wells city officials are delighted by the news that Ellison has purchased the tournament and that he is on board for the tennis event. They are “hopeful that he will turn the Indian Wells Tennis Garden into a premier entertainment venue.” There is also an undeniable hope that Ellison can reinvent the stadium to be used for more than one event per year.

Last year, the BNP Paribas Tennis Tournament at Indian Wells was won by tennis star Rafael Nadal.

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