Some sports empires are built through draft picks and free agency, while others grow through strategic investments and long-term vision. Ben Navarro’s tennis empire falls squarely in the latter category, and his story shows how smart money can transform American tennis from the ground up.
A Look At Ben Navarro’s Tennis Tournament Empire
In October 2022, Ben Navarro’s family investment firm Beemok Capital completed the purchase of the Western & Southern Open from the United States Tennis Association. The deal was worth over $250 million, with some reports suggesting it reached nearly $300 million. Navarro later returned the tournament to its original name, the Cincinnati Open, in 2024.
This wasn’t Navarro’s first move into tennis ownership. The 62-year-old Charleston resident first entered tennis ownership in 2018 when he purchased the Charleston Open. Now he owns two of America’s most prestigious tennis events, creating an emerging tennis empire that spans from South Carolina to Ohio.
Navarro purchased Charleston Tennis LLC in September 2018, taking over the Credit One Charleston Open, the longest-running women’s professional tennis tournament in the United States. He didn’t just buy the tournament and walk away. Instead, he invested approximately $50 million in renovating Credit One Stadium, expanding its capacity from 7,500 to 11,000 seats, and transforming it into a world-class tennis and concert venue.
The investment had personal meaning, too. Ben’s daughter, Emma Navarro, made her professional debut at this tournament in 2019. The 17-year-old Ashley Hall student received a wildcard entry and lost to Germany’s Laura Siegemund in straight sets, 7-5, 6-4. But the match proved she belonged on the professional stage, forcing a set point in the opener with a 5-4 lead.
Meanwhile, the Cincinnati Open purchase in 2022 marked a major expansion of Ben Navarro’s tennis holdings. This tournament is one of only nine events outside the Grand Slams where men and women compete at the highest level, an ATP Masters 1000 and WTA 1000 combined event. Founded in 1899, it is America’s longest-running professional tennis tournament, played in its original city.
After initially considering relocating the tournament to Charlotte, North Carolina, Navarro announced in October 2023 that the Cincinnati Open would remain in Mason, Ohio, for another 25 years. He committed to significant facility upgrades and expanded the tournament format from seven to 12 days starting in 2025.
Defending champion Jannik Sinner was invited to the ribbon-cutting ceremony of the Lindner Family Tennis Centre at Mason, Ohio, on Aug. 3 ahead of the tournament.
What’s an updated venue without a ribbon cutting? @GAIGroup pic.twitter.com/U20tPzZkJj
— Cincinnati Open (@CincyTennis) August 5, 2025
The Building of a Multi-Billion Dollar Business Empire
Navarro’s journey to tennis ownership began decades ago with Sherman Financial Group, which he founded in 1997 after leaving his position as vice president at Citigroup. The company became one of America’s largest buyers of consumer debt and owns Credit One Bank, a Las Vegas-based institution specializing in credit cards for borrowers with low credit scores.
Credit One Bank has issued over 18 million credit cards and is the seventh-largest Visa and Mastercard issuer in the United States. It also stands as the fastest-growing American Express issuer in the country. This success has made Navarro extremely wealthy, with Forbes estimating his net worth at $4.8 billion as of 2025.
The Navarro family has made Charleston their home base, where Navarro owns extensive real estate, including hotels and commercial properties. His daughter Emma was born in New York but raised in Charleston, attending Charleston Day School and later Ashley Hall before pursuing her tennis career at the University of Virginia.
