Huge rise in prize money

Men’s tennis governing body the ATP announced a record increase of $37.5m in prize money to $217.9m for 2023.

The overall prize money pot was for both the ATP and Challenger Tours, with ATP Tour players collectively taking home an additional $18.6m of on-site prize money from next year, the ATP said in a statement. Earlier this year the ATP announced that purses on the Challenger Tour would receive a big boost.

“The record increase also includes a big uplift on the ATP Challenger Tour, which will see on-site prize money grow by 75%, from $12.1m to $21.1m,” the ATP said.

In June, the men’s governing body said players and tournaments will share profits 50-50 from 2023 as part of its OneVision plan — primarily aimed at boosting revenue from media and television rights.

On Thursday it said “a revised bonus pool structure introduced through OneVision, ATP’s strategic plan, is set to deliver bonus pools of $21.3m in 2023, a $9.8m increase on 2022, to an expanded group of top-performing players”.

The ATP had also announced that its flagship Masters 1000 tournaments in Madrid, Rome and Shanghai will be held over 12 days and with bigger draw sizes from 2023.

“Our players are world-class athletes and it’s our priority to ensure they’re compensated accordingly,” ATP chair Andrea Gaudenzi said. “These record increases in 2023 are a strong statement for the ATP Tour and highlights our commitment to raising the bar.”