Player prize money raised to record USD 217.9 million by ATP for 2023 season
A total of USD 18.6 million more in on-site prize money will be awarded to players throughout the ATP Tour with three ATP Masters 1000 tournaments seeing their duration extended from eight to twelve days
Turin [Italy], November 17 (ANI): The ATP has announced the biggest one-year rise in prize money in its history. A record-breaking USD 217.9 million will be paid out in ATP Tour and ATP Challenger Tour competitions for the 2023 season thanks to the USD 37.5 million increase.
A total of USD 18.6 million more in on-site prize money will be awarded to players throughout the ATP Tour with three ATP Masters 1000 tournaments seeing their duration extended from eight to twelve days, as per ATPtour.com.
The number of days of competition and playing opportunities at premier ATP tournaments will increase in 2025 because of the addition of two more ATP Masters 1000 events.
In addition to the record increase, the ATP Tour tournaments will also experience rise in on-site prize money increasing by 75 per cent from USD 12.1 million to USD 21.1 million.
It comes after the season’s early announcement of significant Challenger Tour improvements intended to improve the sport’s progression and player earning potential.
Additionally, an extended group of top-performing players will receive bonus pools totaling $21.3 million in 2023, an increase of $9.8 million from 2022 (+85%), thanks to a revamped bonus pool system presented under OneVision, the ATP’s strategic plan.
The newly-developed ATP profit-sharing system, which will be implemented through OneVision in 2022 and will allow players to partake in the financial gains of the ATP Masters 1000 events, will support increases.
Grand Slam prize money increases for 2023 have not yet been declared, which would further raise the player prize money.
ATP Chairman Andrea Gaudenzi said, “Our players are world-class athletes and it’s our priority to ensure they’re compensated accordingly. These record increases in 2023 are a strong statement for the ATP Tour and highlights our commitment to raising the bar in tennis. It also speaks to the collective progress we’ve been able to make as a sport under the OneVision strategic plan. There is immense potential for growth in our sport when we work together.” (ANI)
