The tournament was owned and run by the family of Serbian tennis player Novak Djokovic, who through their company Family Sport purchased the ATP Tour date from the organizers of the Dutch Open in 2008, then arranged with the local city of Belgrade authorities for the plot of land where the venue was built, and convinced the government of Serbia under prime minister Mirko Cvetković to support the event through state-owned enterprises, primarily Telekom Srbija. At the time of their purchase in 2008, Djokovic was the World No. 3 player, having won his first Grand Slam title earlier that year.
Djokovic's uncle Goran Djokovic was the tournament director from its inception,[4] until he resigned the post in late May 2012,[5] a month after the tournament's 2012 edition. Novak Djokovic won the tournament twice, in 2009 and 2011. In 2013, Serbia Open was replaced on the ATP schedule by the newly established Power Horse Cup in Düsseldorf.
The tournament returned to the calendar in April 2021, replacing the Hungarian Open with its now new director, Djordje Djokovic.
The 2023 edition was replaced by the 2023 Srpska Open for one year as Djokovic' family was preparing the Serbian venue in order to apply for an ATP 500 status.[6] In March, 2023, Djokovic revealed that he wanted to buy the licence of owner Ion Tiriac but that Tiriac does not want to sell it, as to lease the licence is very profitable, and too expensive for the Serbia Open. The tournament is unlikely to be held in 2024 while Djokovic looks to lease or buy another licence.[7]
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