ATP to split $12.2 million from its profit among players for participation in the Masters-1000 events in 2022

ATP has shared the new profit-sharing model for the distribution of additional revenue earned from the ATP Masters 1000 events held in 2022. 

ATP to split $12.2 million from its profit among players for participation in the Masters-1000 events in 2022

Novak Djokovic and Holger Rune during the 2022 Paris Masters trophy ceremony (Image via : ATP Tour)

The Association of Tennis Professionals (ATP), the governing body of men’s professional tennis, has shared a new profit-sharing model for the distribution of additional revenue earned from the ATP Masters 1000 events held in 2022.

The press statement issued by the ATP mentioned that the formula stems from the ATP’s OneVision strategy, first conceptualized in 2020 by the current chairman, Andrea Gaudenzi.

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There have been lots of voices in the tennis world that have advocated a more equitable revenue-sharing model between the players and the ATP. The ATP has often been accused by critics of negotiating with the tournament keeping in mind their own finances and not players’. This will come as a welcome move amidst the swathe of criticism.

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The $12.2 million announced will be shared between the players who participated at the ATP Masters 1000s based on performance, in addition to the on-site prize money already earned at those events. 

The winners in Masters events earn close to a million dollars; the qualifiers get paid upwards of $6,000; and the main draw entrants cash in upwards of $20,000 starting from the first round.

The press release further declared that they have paid heed to the demands for transparency in the release of financial statements. According to the ATP, player auditors will be provided with full visibility of the economics of the Tour’s biggest events.

This initiative will bring “unprecedented trust and transparency” the ATP believes. Collective profits generated by the tournaments will be shared equally, on a 50-50 basis.

Sharing his excitement on the launch of the initiative, ATP chairman Andrea Gaudenzi said:

It's hard to overstate what a seismic shift this represents for the business of tennis. The fact we're able to distribute $12.2 million to players already in year one is a huge success. This is just the start, and we aim to continue expanding this figure as we grow the economics of the sport in parallel with the expansion of our top tier events.

Maria Sharapova criticizes ATP and WTA over the pay disparity between the tournaments

While the US Open took the initiative towards paying equity 50 years ago by giving the same prize money to winners of the men’s and women’s tournaments, other events on the tour are yet to catch up. 

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Maria Sharapova (Image via Bloomberg)

The issue has been brought to the limelight again as people pointed out the pay disparity at the Asian hard court swing. Maria Sharapova didn’t hesitate to address the significant disparities in pay during the Bloomberg Screentime conference with their chief correspondent, Jason Kelly.

The former Russian pro criticized the ATP and WTA for the wage gap in professional tennis and even highlighted the need for a thorough change in the sport’s financial system and pay structure. Sharapova said:

Just this week, there’s a men’s tournament still happening in Shanghai with the Winner’s prize check of $1.2 million. In the same week, there’s a women’s tournament in China with the Winner’s check at $120,000.

The Australian Open is the only other Major that has consistently offered equal pay since 2001, and the French Open and Wimbledon didn’t follow suit until 2007. Sixteen years after all four Grand Slam events first guaranteed equal prize money, the pay gap in tennis exists basically just as it did in 2007.

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