By Shrivathsa Sridhar
BENGALURU (Reuters) -Men’s tennis players will pocket a record $18.3 million in profit-sharing bonuses from the 2024 season, the ATP said on Thursday, as the tour stepped up its efforts to forge a more sustainable and financially aligned future for the sport.
The bonus amount, a 177% increase on the previous season’s payout, will be distributed to players based on performance at the nine ATP 1000 tournaments, which rank just below the four Grand Slams in prestige.
“This is exactly what profit sharing was designed to do: ensure that players and tournaments share equally in the sport’s financial upside,” ATP Chairman Andrea Gaudenzi said.
“The $18.3 million is a huge milestone. For us, it’s proof that strengthening the premium product and aligning interests creates value.
“We’re proud to be strengthening our partnership and building a stronger, more sustainable ATP Tour.”
The profit-sharing plan, introduced in 2022, splits profits generated at ATP Masters 1000 events – above onsite base prize money – equally between players and tournaments and is a cornerstone of the tour’s OneVision strategic plan.
Profit-sharing helped push ATP player compensation to a record $261 million for the 2024 season for a total of $378 million when combined with Grand Slam prize money.
The men’s elite body added that it was on track to deliver more compensation records, including $28.5 million in Challenger Tour prize money and a $3 million ATP 500 bonus pool.
The expansion of most of the Masters events to 96-player draws had increased earning opportunities for players, widening the number of those able to make a sustainable living from the sport, the ATP added.
It said there was a “wave of infrastructure investment” as Madrid, Rome, Cincinnati, Shanghai and Paris, among other venues, had upgraded facilities to enhance the experience for players and spectators.
(Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Ken Ferris)
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