Copyright © 2015. No duplication is permitted without permission from Bob Larson Tennis.

The ATP event in Bogota, Colombia, is said to have been sold to Mexican investors, who will move the tournament to Mexico.

The buyers are the Pegaso Group, who are looking at Puerto Vallarta, Cancun or Monterrey as potential locations. Monterrey also holds a WTA event. Acapulco has a men and women’s tournament in late February/early March.

The event was previously the ATP stop in Los Angeles.

The ATP board would have to approve any sale of the tournament.

Though no official announcement has been made by tournament director Manuel Maté, he had suggested previously that he would sell the event if an appealing offer was received. “If in three months, an Arab businessman comes to you and says he will give you so much money, you think twice,” he told a local publication.

Bogota’s timing has not helped the event, scheduled alongside the start of the hardcourt season during the summer, when few players want to go to South America. The tournament in addition has had financial problems, which have also prevented it from assembling a good field — Richard Gasquet is the only top 10 player to compete at the event since it began in 2013.

Bogota is an ATP 250 event.

Copyright © 2015. No duplication is permitted without permission from Bob Larson Tennis.