ATP will rewrite the history of tennis starting next season. Through an official note published on its website, in fact, the representative body of men’s tennis announced that in 2023 there will be a significant increase in prize money equal to $ 37.5 million, which brings the total compensation of the events of the ‘ATP Tour and the ATP Challenger Tour at 217.9 million, a figure so far never recorded.
Players will receive an increase of $18.6 million in on-site prize money paid throughout the ATP Tour by expanding three ATP Masters 1000 tournaments from eight to 12 days. Expansion that will involve two more Masters 1000s in 2025.
An exponential growth will mainly concern the Challenger circuit, which will see the prize pool on the spot grow by 75%, from 12.1 to 21.1 million dollars. The increases will be reinforced by ATP’s new profit sharing formula, also introduced through OneVision in 2022, whereby players will share financial profits from ATP Masters 1000 events.
As for the Grand Slam tournaments, however, there will be no increase in wages in 2023.
Gaudenzi: “Increased demonstration of collective progress”
The ATP is about to experience a historic moment in 2023. The increase in prize money is part of a whole series of reforms initiated by the new cycle by Andrea Gaudenzi, number one of the Association of Tennis Professionals, who declared on the enthusiastic issue: “Our players are world-class athletes and it is our priority to ensure they are compensated accordingly.
These record increases for 2023 are a strong statement for the ATP Tour and underline our commitment to raising the bar in tennis. also demonstrating the collective progress we have managed to make as a sport under the OneVision strategic plan.
The growth potential of our sport is immense if we work together.” The increase in the prize pool for 2023 follows the Nitto ATP Finals 2022 which will be held this week in Turin and which will offer a record prize pool of $ 14.75 million.
This represents an increase of more than 60% from pre-pandemic levels. 2023 season of the ATP Tour which will start next December 29 with the United Cup, the new ATP-WTA team competition that will take place in three cities of Australia.
It continues with the Nitto ATP Finals in Turin and the Davis Cup Finals by Rakuten, which will become an official part of the ATP Tour calendar starting from next season. Source: Pic by ATP Tour