An ATP Tour tournament, later called the Regions Morgan Keegan Championships came to the club in 1976 and was given an elevated "500" status in 2008.
In 2008, Golden Set Holdings LLC and San Jose, California-based Silicon Valley Sports & Entertainment (now Sharks Sports and Entertainment) purchased the Racquet Club, the Regions Morgan Keegan Championships and Cellular South Cup from the previous owner, Mac Winker, and renovated.
In November 2018, the ownership group of the Racquet Club sent a letter to its members, announcing the facility's closure.
'‘’While the Club has continued to attract committed, high level players, their numbers have declined while the options for local play have increased, and there is no longer a Tournament in place.
In this context, the Club’s business model is not sustainable given the needed capital expenditures and prospect of operating losses.