Other tennis tournaments are taking notice of Oracle CEO Larry Ellison's deep pockets and willingness to spend money to expand the BNP Paribas Open.
The tennis tournament wrapping up this weekend in Indian Wells was in danger of moving overseas when Ellison, the fifth richest man in the world, stepped in, buying the tournament and the 54-acre facility where it's played.
Four years later, Ellison is making big improvements, including a second permanent stadium complete with courtside sushi restaurant Nobu.
Ellison was on hand for the groundbreaking and has been more visible this year, watching the game's best players.
Ellison also increased the prize money by $1.6 million, a move initially voted down by the Association of Tennis Professionals (ATP).
Eventually, the ATP Tour cleared the way for the money increase, so $5,030,402 will be doled out men's players during this year's BNP Paribas Open.
Ellison's seemingly unlimited bank account is making owners of other tennis tournaments nervous.
"No one can stop Larry Ellison," The Times of London writer Neil Harman told Marketplace. "It makes people very nervous. In these times of austerity, there isn't the money there, so they're saying, 'We’re going to be in trouble if we're trying to live up to what Indian Wells is doing. We can't afford it.'"
Read more at American Public Media's Marketplace.
