The Madrid Open has become the latest tennis tournament to join IMG’s portfolio that features several Association of Tennis Professionals (ATP) and Women’s Tennis Association (WTA) events, including the Miami Open.

It is one of nine ATP Masters 1000 and four WTA 1000 competitions and is due to celebrate its 20th anniversary this year.

Staged at the Caja Mágica in the Spanish capital, the men’s and women’s event is due to be held from April 26 to May 8 - three weeks before the French Open.

Following the sale, Madrid Trophy Promotion SLU (MTP), which runs the event, will join IMG.

Gerard Tsobanian, chief executive and tournament director of MTP, is due to serve as senior vice-president of tennis events at IMG.

MTP also organises the Acciona Open de España golf tournament, which is on the DP World Tour.

Having been founded in 1912, Acciona Open de España is Europe’s third-oldest golf tournament, after the Open Championship and the Open de France.

Usually staged in October at the Club de Campo Villa de Madrid, the tournament will join IMG’s golf events division.

"We are proud to add the Mutua Madrid Open and Acciona Open de España to our portfolio," said Sam Zussman, co-President of media and events at IMG.

"Drawing on our long history in tennis and golf and the MTP team’s expertise, we will build these events into even more unique and remarkable experiences for players, partners, and fans."