CORRECTION: Ellison buys Indian Wells Masters event

Dec 23, 2009, 6:17 GMT

Los Angeles - Yacht-racing, computer billionaire Larry Ellison has turned his hand to tennis, with the announcement Tuesday that he has bought next year's ATP-WTA Indian Wells Masters event as well as the sprawling stadium where it is played.

The controversial Ellison is currently involved in legal challenges to the championship Swiss Alinghi team over the location and format of the upcoming America's Cup.

But his tennis event promises to be less controversial when it is played for the first time under new management March 8-21 in the Californian desert.

The Oracle corporation chief bought the tournament and its grounds at Rancho Mirage, 160 kilometres east of Los Angeles, from owners and founders Charlie Pasarell and Raymond Moore, former players and principals of PM Sports Management.

Other owners included the United States Tennis Association and former players Pete Sampras, Chris Evert and Billie Jean King.

'I am very excited to become the new owner,' said Ellison. 'Anyone who knows me knows that I love the game of tennis. I play it regularly, watch it frequently.

'I now look forward to being in Indian Wells every March to host the greatest players in the world. This tournament has an incredibly solid foundation, including one of the best venues and management teams, and I intend to build on that and continue the vision of being one of the greatest international sporting events worldwide.'

The tournament began in 1976, with Pasarell becoming tournament director in 1981.

He and Moore will continue to manage the event and the Indian Wells Tennis Garden under the new regime.