Volvo no more

It used to be called the Family Circle Cup — then it was called the Volvo Car Open — now it’s called the what? Well, the new name of Daniel Island’s world class women’s tennis tournament has yet to be unveiled, but the new title sponsor and stadium name have been revealed.

 

Over its rich 49-year history, dating back to 1973, the premiere tournament has changed its venue, stadium name, tournament name and sponsorship. It’s illustrious history has once again repeated itself.

 

On July 21, Charleston Tennis LLC announced that Credit One Bank, the Las Vegas-based credit card bank that has popularly partnered with NASCAR, WWE, the Las Vegas Raiders and the Vegas Golden Knights, has been named the new title sponsor of the almost half-a-century-old tournament. The playing arena, which is currently under $40 million worth of renovations, will now be called the Credit One Stadium.

 

From the ground up, the renovation calls for a 70,000-square-foot “Stage House” that will house player wellness facilities including premium locker rooms, physical therapy, exercise space, as well as back of house media and production and food preparation areas, plus a VIP Club level overlooking the Billie Jean King Stadium Court. 

 

Previously, the stadium held 7,500 to 8,000 people during the annual tournament. When complete, it will be able to hold approximately 11,000.

 

Charleston Tennis president Bob Moran called the construction “a new era in tennis and entertainment in the city of Charleston.”

 

As for the choice in title sponsor, one commonality is that Charleston Tennis owner Ben Navarro is also the founder and CEO of Sherman Financial Group LLC, a global investment company which owns Credit One Bank. Charleston Tennis and Credit One Bank have worked out a multi-year title sponsorship deal.  

 

Credit One Bank first partnered with Charleston Tennis in June 2020 for the Credit One Bank Invitational. The tournament raised funds for the Medical University of South Carolina’s frontline health care workers. 

 

Navarro nearly singlehandedly funded the stadium’s facelift by way of a private gift to the City of Charleston. As the leaseholder, the city has agreed to partner and budget $3 million over the next few years. 

 

Unfortunately, Navarro was unable to attend the press conference. However, a couple of big names in tennis were present. One who is an overseer of operations and arguably “the hardest working man in tennis,” in the words of Moran.  

 

“The key to the success of any event is that it continues to evolve,” said Steve Simon, Women’s Tennis Association CEO. “If you continue doing the same thing over and over you’re going backwards and this event doesn’t do that.”  

 

The other attendee is quite skilled with a racket in hand, as the No. 26 ranked women’s player in the world. She was a 2017 U.S. Open finalist and the 2019 Volvo Car Open champion. But off the court she is equally known for her big smile and bigger heart. 

 

That morning, Charleston Tennis and Credit One Bank’s first act in partnership was a $10,000 donation to Keys’ organization Kindness Wins, a nonprofit that empowers girls to create a kinder world.  

 

“I think that this tournament is not only loved by the community but also is a play favorite every single year,” said tennis star Madison Keys. 

 

Moran alluded that not only will the tournament’s name and logo change, but other parameters like purse money and the size of the field are subject to change as well.    

 

Construction on the stadium is slated to be completed next March with the 50th anniversary set for April 2-10, 2022. In addition, Volvo Cars will continue to serve as the official vehicle of the event.