Mark Ein to take over management of the Citi Open

Serial investor and entrepreneur Mark Ein is making another splash, acquiring the managerial responsibilities of the Citi Open, the region’s annual pro tennis tournament.

Ein, who owns the Washington Kastles franchise and has a big stake in the World TeamTennis league, said he hopes to improve the event with more food and beverage options, hospitality offerings and upgrades to the facilities at Rock Creek Tennis Center in Northwest D.C.

The Washington Tennis and Education Foundation, which has owned the rights to the event since its inception in 1969, will retain those ownership rights. The foundation is a nonprofit that provides tennis and education skills to youth in underserved communities.

Terms between WTEF and Ein were not disclosed. Ein, a venture capitalist who owns Kastle Systems International and has his own esports team, has the option to buy the tournament in five years.

Ein has created a separate business entity called MDE Tennis that will bring on the entire Citi Open…

Read the full story from the Washington Business Journal.