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The WTA Volvo Open, played at Charleston, has been sold to an area billionaire with an interest in tennis.

The tournament has been bought by Ben Navarro, a recent bidder for the NFL's Carolina Panthers and owner of a tennis club. The sale includes the Family Circle Tennis Center, where the tournament is played.

The tournament was previously owned by two corporations, including the owner of Family Circle magazine. The sale is likely to provide more stability for the event.

The new owner said the goal was to increase "the tournament’s impact, promote junior tennis in Charleston, and make the sport more accessible for all."

Charleston is the sole green-clay event played on the WTA tour.

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Charleston WTA event sold to local billionaire Ben Navarro

Charleston WTA event sold to local billionaire Ben Navarro