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Winston-Salem Projected To Start Being Profitable - Bob Larson's Tennis News

Winston-Salem Projected To Start Being Profitable


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Copyright © 2015. No duplication is permitted without permission from Bob Larson Tennis.

The Winston-Salem Open is entering its fifth year and is projected to now start being profitable.

“Acquisition expenses will be rolling off soon, setting the tournament up to be profitable this year and in future years,” said Bill Oakes, tournament director, to the Winston-Salem Journal.

The event has renewed its agreement to be part of the US Open Series and also signed three presenting sponsors. The three companies are BB&T Corp., which is the title sponsor of Atlanta, Hanesbrands Inc., and Flow Automotive Cos.

“The renewed sponsorships demonstrate the high level of commitment that the local business community has to our tournament, and we are incredibly grateful for the support,” he said. “They are committed to keeping Winston-Salem in the tournament’s name because of the domestic and international recognition it brings.”

The variety of sponsors, along with their ties to tennis, creates more security for the event. For Hanesbrands, the tournament provides retail sales of their products, while the owner of Flow Automotive is on the tournament board.

“If you rely on a title sponsor for the bulk of your sponsorship money, and the sponsor decides to take its marketing money in another direction, it can put your event at risk for folding or moving,” said a spokesperson for Hanesbrands, saying that the sponsorship gave the company “direct access to the active and impassioned tennis community.”

The economic impact of the tournament is estimated around $4 million and $4.5 million.

Attendance is expected to be 40,000 for the event.

Copyright © 2015. No duplication is permitted without permission from Bob Larson Tennis.