Latest news with #BillAckman
Yahoo
4 hours ago
- Sport
- Yahoo
Tennis Hall of Fame rejects billionaire Bill Ackman's $10 million gift after widely criticized tournament entry
The International Tennis Hall of Fame has rejected a $10 million gift from hedge-fund billionaire Bill Ackman after his widely criticized entry in its ATP Challenger event, according to Front Office Sports. The 59-year-old Ackman, a longtime tennis fan, competed in the Hall of Fame Open in Rhode Island last week as a doubles team with former top-10 player Jack Sock, losing to Omar Jasika and Bernard Tomic 6-1, 7-5. The Challenger Tour is the tier below the ATP Tour, but still an actual professional tournament. Ackman received a wild-card entry after a history of philanthropy with the Hall of Fame and played like, well, a 59-year-old tennis enthusiast with no professional experience thrown into a group of professionals. Jasika and Tomic were openly going easy on him, but it didn't prevent him and Sock from losing in straight sets. The decision to add a billionaire to the tournament it hosts led to a wave of criticism toward the Hall of Fame in the tennis community, most notably from former world No. 1 Andy Roddick, the last American man to win a Grand Slam singles title. Speaking on his "Quick Served" podcast, Roddick called the match "a total miss," "pathetic," "hard to watch," and "the biggest joke I've watched in professional tennis." He actually said he didn't blame Ackman for his decision to play, placing the onus on the Hall, and praised the billionaire's effort, but said he believed the decisions behind the match would warrant a review. "There was exactly one person on that court trying as hard as they could," Roddick said. "... If you want to argue with me, go back and watch that video. You can't tell me there was more than one person trying as hard as they could every point, or any point. It was a disaster. "This was beneath the Hall of Fame, in my opinion." You can judge the respective effort levels in the video of the match below: Three days after the match, Ackman posted a lengthy tweet in which he defended the Hall of Fame, criticized his own play and pledged to set up a $10 million endowment he would manage, giving the Hall 10% of the principal each year. He also called the match an overall success, describing it as "one of the greatest public relations achievements in tennis history" for the Hall, partially due to his failure on the court, and challenged Roddick to a doubles match. He said the criticism the Hall received was "entirely" on him, but also tried to explain why he played so badly. "What has not been disclosed is that I played a doubles tournament 10 days prior at the HOF, and I played great. The field was comprised of former pros and top college players from around the world, but 55 plus in age. Richey Reneberg and I lost in the semis to the ultimate winners of the tournament in the tie breaker ... Where things went wrong is that I hadn't been beta tested in a professional tournament and my nerves got to me. "Jack also chose the ad side and I have been playing the ad side for the last year. I was also serving into the 1:30pm sun with a shot clock (a new experience for me), and to make matters worse the other side held back making the whole thing look like a farce." Everyone has a different definition of success, but it appears the Hall has been less happy than Ackman about how this has played out. While it declined comment to FOS, it reportedly said in a letter to its members and board that it would reject the donation to avoid "any perception of impropriety." It added, 'In hindsight, we would not make this decision again,' referring to Ackman's entry.
Yahoo
15 hours ago
- Sport
- Yahoo
Tennis Hall of Fame rejects billionaire Bill Ackman's $10 million gift after widely criticized tournament entry
The International Tennis Hall of Fame has rejected a $10 million gift from hedge-fund billionaire Bill Ackman after his widely criticized entry in its ATP Challenger event, according to Front Office Sports. The 59-year-old Ackman, a longtime tennis fan, competed in the Hall of Fame Open in Rhode Island last week as a doubles team with former top-10 player Jack Sock, losing to Omar Jasika and Bernard Tomic 6-1, 7-5. The Challenger Tour is the tier below the ATP Tour, but still an actual professional tournament. Ackman received a wild-card entry after a history of philanthropy with the Hall of Fame and played like, well, a 59-year-old tennis enthusiast with no professional experience thrown into a group of professionals. Jasika and Tomic were openly going easy on him, but it didn't prevent him and Sock from losing in straight sets. The decision to add a billionaire to the tournament it hosts led to a wave of criticism toward the Hall of Fame in the tennis community, most notably from former world No. 1 Andy Roddick, the last American man to win a Grand Slam singles title. Speaking on his "Quick Served" podcast, Roddick called the match "a total miss," "pathetic," "hard to watch," and "the biggest joke I've watched in professional tennis." He actually said he didn't blame Ackman for his decision to play, placing the onus on the Hall, and praised the billionaire's effort, but said he believed the decisions behind the match would warrant a review. "There was exactly one person on that court trying as hard as they could," Roddick said. "... If you want to argue with me, go back and watch that video. You can't tell me there was more than one person trying as hard as they could every point, or any point. It was a disaster. "This was beneath the Hall of Fame, in my opinion." You can judge the respective effort levels in the video of the match below: Three days after the match, Ackman posted a lengthy tweet in which he defended the Hall of Fame, criticized his own play and pledged to set up a $10 million endowment he would manage, giving the Hall 10% of the principal each year. He also called the match an overall success, describing it as "one of the greatest public relations achievements in tennis history" for the Hall, partially due to his failure on the court, and challenged Roddick to a doubles match. He said the criticism the Hall received was "entirely" on him, but also tried to explain why he played so badly. "What has not been disclosed is that I played a doubles tournament 10 days prior at the HOF, and I played great. The field was comprised of former pros and top college players from around the world, but 55 plus in age. Richey Reneberg and I lost in the semis to the ultimate winners of the tournament in the tie breaker ... Where things went wrong is that I hadn't been beta tested in a professional tournament and my nerves got to me. "Jack also chose the ad side and I have been playing the ad side for the last year. I was also serving into the 1:30pm sun with a shot clock (a new experience for me), and to make matters worse the other side held back making the whole thing look like a farce." Everyone has a different definition of success, but it appears the Hall has been less happy than Ackman about how this has played out. While it declined comment to FOS, it reportedly said in a letter to its members and board that it would reject the donation to avoid "any perception of impropriety," then added: 'In hindsight, we would not make this decision again,' it added, referring to Ackman's wild-card entry.
Yahoo
15 hours ago
- Sport
- Yahoo
Tennis Hall of Fame rejects billionaire Bill Ackman's $10 million gift after widely criticized tournament entry
The International Tennis Hall of Fame has rejected a $10 million gift from hedge fund billionaire Bill Ackman after his widely criticized entry in its ATP Challenger event, according to Front Office Sports. The 59-year-old Ackman, a longtime tennis fan, competed in the Hall of Fame Open in Rhode Island last week as a doubles team with former top 10 player Jack Sock, losing to Omar Jasika and Bernard Tomic 6-1, 7-5. The Challenger Tour is the tier below the ATP Tour, but still an actual professional tournament. Ackman received a wild-card entry after a history of philanthropy with the Hall of Fame and played like, well, a 59-year-old tennis enthusiast with no professional experience thrown into a group of professionals. Jasika and Tomic were openly going easy on him, and it didn't prevent him and Sock from losing in straight sets. The decision to add a billionaire to the tournament it hosts led to a wave of criticism toward the Hall of Fame in the tennis community, most notably from former world No. 1 Andy Roddick, the last American man to win a Grand Slam singles title. Speaking on his "Quick Served" podcast, Roddick called the match "a total miss," "pathetic," "hard to watch," and "the biggest joke I've watched in professional tennis." He actually said he didn't blame Ackman for his decision to play, placing the onus on the Hall, and praised the billionaire's effort, but said he believed the decisions behind the match would warrant a review. More: "There was exactly one person on that court trying as hard as they could ... If you want to argue with me, go back and watch that video. You can't tell me there was more than one person trying as hard as they could every point, or any point. It was a disaster. "This was beneath the Hall of Fame, in my opinion." You can judge the respective effort levels in the video of the match below: Three days after the match, Ackman posted a lengthy tweet in which he defended the Hall of Fame, criticized his own play and pledged to set up a $10 million endowment he would manage, giving the Hall 10% of the principal each year. He also called the match an overall success, describing it as "one of the greatest public relations achievements in tennis history" for the Hall, partially due to his failure on the court, and challenged Roddick to a doubles match. He said the criticism the Hall received was "entirely" on him, but also tried to explain why he played so badly. "What has not been disclosed is that I played a doubles tournament 10 days prior at the HOF, and I played great. The field was comprised of former pros and top college players from around the world, but 55 plus in age. Richey Reneberg and I lost in the semis to the ultimate winners of the tournament in the tie breaker ... Where things went wrong is that I hadn't been beta tested in a professional tournament and my nerves got to me. "Jack also chose the ad side and I have been playing the ad side for the last year. I was also serving into the 1:30pm sun with a shot clock (a new experience for me), and to make matters worse the other side held back making the whole thing look like a farce." Everyone has a different definition of success, but it appears the Hall has been less happy than Ackman about how this has played out. While it declined comment to FOS, it reportedly said in a letter to its members and board that it would reject the donation to avoid "any perception of impropriety," then added: 'In hindsight, we would not make this decision again,' it added, referring to Ackman's wildcard entry.
Yahoo
17 hours ago
- Business
- Yahoo
Hall No: Billionaire Ackman's $10M Offer to Tennis HOF Declined
Days after Bill Ackman lost his first professional tennis match, the 59-year-old billionaire hedge fund investor offered a $10 million endowment to the International Tennis Hall of Fame—the same organization that invited him and doubles partner Jack Sock to its annual tournament. 'The HOF is an incredible venue, museum, and tourist attraction, and most people, even tennis fans, didn't even know it existed until last week,' Ackman posted on X Sunday. 'It relies on charitable funding for its existence as a non-profit. So each year the HOF has to go find corporate sponsors and donations to stay solvent, a not so easy task.' More from Wimbledon Makes Half a Billion Dollars Over Two Weeks Each Year Billionaire Hedge Fund Investor Bill Ackman Loses Pro Tennis Debut Alcaraz Outlasts Sinner to Win French Open, $2.9M in Prize Money However, the organization has turned down Ackman's offered donation, a spokesperson confirmed to Sportico Wednesday. Sports Illustrated tennis writer Jon Wertheim first reported the decision, writing that the Hall of Fame passed to avoid 'any potential perception of impropriety.' In making his offer, Ackman explained that 'many … claimed that I bribed the HOF for the wildcard, which is entirely untrue.' Ackman has donated to the organization in the past—he and his Pershing Square Foundation are members of the Hall of Fame's 'Founder's Circle,' an honor given to 'philanthropic leaders whose passion and devotion have preserved and sustained this historic property and institution.' But he said online he had not done so 'in recent years.' A Pershing Square representative did not respond to a request for additional details on Ackman's relationship with the ITHOF. After being granted a wild-card slot, Sock and Ackman lost in the first round of the Hall of Fame Open doubles tournament in Newport, R.I., 6-1, 7-5, to Australians Omar Jasika and Bernard Tomic. Clips of Ackman's low points on the court soon went viral, followed by complaints that he was undeserving of the stage. ITHOF enshrinee Andy Roddick called the match 'the biggest joke I've ever watched in professional tennis.' Ackman has offered several defenses for his lowlights. His partner wanted him to play on the side of the court he was left comfortable on, he had not previously served against a shot clock, the 1:30 p.m. sun presented its own challenges—'and to make matters worse,' Ackman wrote online on the day of the Wimbledon men's singles final, 'the other side held back making the whole thing look like a farce.' He wrote, 'Where things went wrong is that I hadn't been beta tested in a professional tournament and my nerves got to me.' Amid the fallout, Ackman also challenged Roddick to a match. According to the organization's tax filings, the ITHOF generated $32.7 million in 2023 revenue, with $94.1 million in total assets. Ackman's offer would have sent 5% of a $10 million endowment invested in his hedge fund, Pershing Square, to the organization each year. He asked that the money be used to promote youth interest in tennis. 'The HOF engineered one of the greatest public relations achievements in tennis history,' Ackman wrote on X. 'My failure on the court contributed to its success. That sounds like a grand slam to me.' Best of Panthers Win Second Stanley Cup Under Owner Vincent Viola Top 50 Highest-Paid Athletes of All Time Highest-Paid Athletes in the World: Full List
Yahoo
17 hours ago
- Business
- Yahoo
Billionaire Hedge Fund Investor Bill Ackman Loses Pro Tennis Debut
It's not often that a pro tennis player spends time the day before their match re-posting on X about New York's mayoral race, the Israeli-Palestinian conflict or Jeffrey Epstein—much less all three topics. But Bill Ackman is not your typical tennis pro. The 59-year-old hedge fund manager joined 32-year-old Jack Sock—a three-time Grand Slam winner—for this week's Hall of Fame Open doubles tournament in Newport, R.I., losing 6-1, 7-5 to Australians Omar Jasika and Bernard Tomic, a 32-year-old former world No. 17 singles player attempting another rise up the rankings. More from Alcaraz Outlasts Sinner to Win French Open, $2.9M in Prize Money Sponsors Back Sinner Despite Three-Month Doping Ban French Open Won't End American Men's Tennis Drought, McEnroe Says The tournament granted Sock and Ackman a wild-card entry. Ackman previously said Sock would be able to keep the reported $2,030 in prize money that would accompany a win. The duo that wins Sunday's championship match will receive $9,900. The grass-court tournament is an ATP Challenge Tour-level event this year after being played as an ATP 250 contest previously. Ackman is no stranger to the world of pro tennis, even if he made his ATP-level debut at just shy of 60. He is one of the key backers behind a tennis players trade association—and the board chair for the Professional Tennis Players Association's for-profit arm—and has also financially supported individual prospects, including Frances Tiafoe. 'I have had a lifelong passion for tennis, both as a player and a fan, but have long recognized the challenges that most professional tennis players experience due to the sport's inferior economics for all but the very top of the rankings ladder,' Ackman said in 2023. Ackman eyed competing alongside Nick Kyrgios earlier this year, though injuries to the Australian derailed those plans. Every tournament reserves a few wild card slots, which are are frequently given to relatively big names interested in competing, though controversy has arisen when relatives of other players or those with commercial connections to events are let in over higher-ranked alternatives. Sock's last pro match had been in 2023; he has since focused on podcasting and pickleball. Ackman played tennis in high school at Horace Greeley but did not play in college, focusing on crew instead. Since then, primarily as the founder and CEO of Pershing Square Capital Management, he has developed a net worth of $9.4 billion, according to Forbes. He reportedly previously paid $100,000 to play in a charity doubles match against John McEnroe, one of multiple overlaps between his philanthropic efforts and the sport. He recently played in the Finance Cup tournament at Newport's International Tennis Hall of Fame, making the semifinals with 1987 ATP Newcomer of the Year—and current global co-head of investor relations and marketing for Taconic Capital—Richey Reneberg. 'I am playing the best tennis of my life,' Ackman posted on X afterwards. The Rhode Island location was the original home of what is now the U.S. Open tournament, dating back to 1881. The museum was established in 1954. Ackman and his Pershing Square Foundation are members of the Hall of Fame's 'Founder's Circle,' an honor given to 'philanthropic leaders whose passion and devotion have preserved and sustained this historic property and institution.' Ackman showed up for the match in an all-white Nike get-up; Pershing has invested in the sporting good giant, with Ackman supporting new CEO Elliott Hill. Ackman has been increasingly outspoken on social and political issues on X, endorsing Donald Trump in 2024. He has 1.8 million followers on the platform, more than Carlos Alcaraz and Jannik Sinner combined. Ackman has been particularly vocal about NYC's mayoral race, offering to fund a centrist alternative to recent Democratic primary winner Zohran Mamdani. Best of Panthers Win Second Stanley Cup Under Owner Vincent Viola Top 50 Highest-Paid Athletes of All Time Highest-Paid Athletes in the World: Full List
