USTA agrees to buy Cincinnati Masters

WHITE PLAINS, N.Y. -- The U.S. Tennis Association reached an agreement to buy a majority interest in the Cincinnati Masters ATP hard-court tournament and hopes to turn it into a combined event for men and women.

The deal is pending ATP approval.

"This tournament has elevated the sport of tennis in the country's heartland, while providing significant contributions to community causes. This is a legacy we look forward to building upon," USTA CEO of pro tennis Arlen Kantarian said Monday.

The USTA plans a multimillion-dollar renovation to the tournament stadium in Mason, Ohio.

The event is part of the U.S. Open Series of hard-court tournaments leading up to the year's final Grand Slam.