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CHARLESTON, S.C. (WCSC) - The newly renovated tennis stadium on Daniel Island and the WTA Tour event that are played there have new sponsors.

Charleston Tennis, LLC announced that Credit One Bank is the new title sponsor of the tournament and will take over naming right of the Credit One Stadium.

The company has committed to a multi-year title sponsorship it was announced on Wednesday.

“The future of live tennis is a bright spot for us, building and planning for what the future will look like for the new Credit One Stadium.” Bob Moran, president of Charleston Tennis, LLC said at a press conference. “After nearly 18 months of navigating postponements and cancelations, we look forward to bringing world-class tennis back to Charleston each April and broadening our reach to bigger and better concerts and special events throughout the year,”

The tournament and the stadium had both been sponsored by Volvo Cars since 2015. Before that the tournament had been called the Family Circle Cup.

The official name for the tournament will be announced at a later date.

“We’re proud to be working with Charleston Tennis, LLC, and the City of Charleston to build on the great history of this tournament and give the passionate fan base in the area and women’s tennis players from around the world a great experience at a state-of-the-art venue,” said John Coombe, senior vice president of marketing at Credit One. “We want to grow the Credit One brand name throughout the region while continuing to invest in entertainment and community programs important to our customers and fans.”

“We welcome Credit One to the WTA Tour in its commitment to both serve as the title sponsor of the Charleston WTA 500 tournament and in placing its name on the newly renovated, state-of-the-art stadium in which the event is played,” said Steve Simon, WTA chairman and CEO. “Charleston has a rich history with the WTA as one of the longest standing women’s-only professional tennis tournaments in the world, and is a Tour favorite among the players. We look forward to working with Credit One, along with all of the sponsors, to continue the growth and success of this prestigious tournament for many years to come.”