Increased prize money is also part of the ATP Board’s approved changes, which are the product of more than two years of talks.
The ATP men’s professional tennis tour announced changes to its schedule for 2021. These include the expansion of five Masters 1000 events and 50-50 profit sharing between players and tournaments starting next year.
Increased prize money is also part of the ATP Board’s approved changes, which are the product of more than two years of talks.
The first phase of the “OneVision” initiative aims to boost profitability by combining event income into ATP Media and the tour’s Tennis Data Innovations.
The ATP said in a statement,
“Importantly, this will open up major growth opportunities in media and data, two highly scalable revenue streams,”
“Embracing the digital transformation will also shift the tour away from over-reliance on ticketing, a concerted move seen across many other major sports.”
For the first time, players will receive audited tournament financials.
“a ground-breaking 50-50 profit sharing formula will align the interests of players and tournaments in growing the game as partners in success.”
Starting next year, Masters events in Madrid, Rome and Shanghai will grow from eight-day competitions to 12 days in line with Indian Wells and Miami. Beginning in 2025, the Canada and Cincinnati events will similarly expand.
The ATP announced that prize money at the five additional events will increase by more than 35 percent.
ATP chairman Andrea Gaudenzi called approval of the plan,
“a game-changing moment for the tour and a huge collective effort across our sport.”
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