Filip & Company has advised the Tiriac Group on its sale of rights in and operations of the Mutua Madrid Open tennis tournament and the Acciona Open de Espana golf tournament to Endeavor Group’s IMG UK. Linklaters, Prolaw Abogados, and Michael Kyprianou & Co reportedly advised the Tiriac Group as well. Latham & Watkins reportedly advised IMG UK and Endeavor.
Filip & Company describes the Endeavor Group as “a global leader in the events, entertainment, sport, media, and fashion industries.”
The Tiriac Group currently encompasses more than 40 local private companies operating in the automotive, real estate, financial services, air transportation, and energy sectors, among others.
“Throughout one decade of legal assistance provided for the sports business of the Tiriac Group, I have learned that for each ball played on court there are myriads of mechanisms and relations that need to be continuously maintained running or in balance, or renewed and improved, or documented and amended,” Managing Partner Cristina Filip commented. “The Mutua Madrid Open Tournament is a magnificent creation, the pinnacle of daring ideas and of an arduous, passionate, long-term effort, a truly elite event among the professional masculine and feminine tennis circuits of the highest international level.”
The Filip & Company team was led by Filip and included Partners Eliza Baias and Catalin Suliman, Senior Associate Irina Suatean, and Associates Rares Crismaru, Daria Olteanu, Monica Popa, and Bogdan Farcane.