close

ATP changes include expanded tournaments, profit sharing

The changes approved by the ATP board also include increased prize money, all the result of more than two years of negotiations.

“Importantly, this will open up major growth opportunities in media and data, two highly scalable revenue streams,” the ATP said in a statement. (File)

The ATP men’s professional tennis tour announced reforms including the expansion of five Masters 1000 events and a 50-50 profit sharing between players and tournaments starting next year.

The changes approved by the ATP board also include increased prize money, all the result of more than two years of negotiations.

The Phase 1 plan “OneVision” hopes to increase profits by merging tournament earnings in ATP Media and the Tour’s Tennis Data Innovations.

“Importantly, this will open up major growth opportunities in media and data, two highly scalable revenue streams,” the ATP said in a statement.

“The acceptance of digital transformation will also move the tour away from over-reliance on ticketing, a concerted move seen in many other major sports.” Players will receive audited tournament financials for the first time and “a groundbreaking 50-50 Profit-sharing formula will align player and tournament interests to grow the game as a partner for success.” Starting next year, the Masters events in Madrid, Rome and Shanghai will expand from eight-day competitions to 12 days, just like Indian Wells and Miami . Beginning in 2025, events in Canada and Cincinnati will similarly expand.

Prize money at the five expanded events will increase by more than 35%, the ATP said.

ATP Chairman Andrea Gaudenzi called the plan’s approval “a landmark moment for the Tour and a tremendous collective effort across our sport”.

  • Indian Express’ website has been rated GREEN for credibility and trustworthiness by Newsguard, a global service that ranks news sources on their journalistic standards.

Leave a Comment