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Sunday, June 16, 2024

ATP Prize Money Reaches Historic Heights

  • The ATP Tour and ATP Challenger Tour will offer a record $217.9 million in total prize money at their 2023 events.
  • The $37.5 million increase from the 2022 season is the largest single-year bump in prize money in ATP history.
Tennis ball moving over net branded with ATP Tour logo
Aaron Doster-USA TODAY Sports

The Association of Tennis Professionals is bringing its player compensation to record heights for the 2023 season.

On Thursday, the men’s pro tennis organization announced that the ATP Tour and ATP Challenger Tour will offer a record $217.9 million in total prize money at their 2023 events.

That represents a $37.5 million increase from the 2022 season — the largest single-year bump in prize money in the organization’s history.

These figures do not include prize money from 2023 Grand Slam tournaments, which has not been announced.

Much of the increase is being led by changes to the top-tier ATP Tour: Three Masters 1000 tournaments — Madrid, Rome, and Shanghai — have been expanded from eight to 12 days. The Canada and Cincinnati Masters 1000 events will be expanded to 12 days in 2025.

The Challenger Tour — the second tier of men’s professional tennis — is also seeing a 75% increase in on-site prize money from $12.1 million to $21.1 million.

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ATP’s strategic plan OneVision — introduced in June — is also coming up with more innovative ways to pay players.

OneVision’s revised bonus pool structure will deliver $21.3 million in bonus pools for 2023 — a $9.8 million increase (+85%) from 2022.

Players will also benefit from the financial upside of Masters 1000 tournaments through a new profit-sharing formula introduced by OneVision.

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

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