The ATP has just announced its biggest ever single-season increase in prize money in its history. The record increase of $37.5 million means that next season's overall prize money - across both the ATP and Challenger ATP tours - will be at a record high of $217.9 million for the 2023 season.
Increases will be supported by the ATP’s newly established profit-sharing formula, introduced through OneVision in 2022, under which players will share in the financial upside of the ATP Masters 1000 events.
Speaking about the increase, 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".
He added, "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".
A significant portion of the record prize money increase will go towards the ATP Challenger Tour, which will see on-site prize money grow by 75 per cent, from $12.1 million to $21.1 million. This is being seen as part of sweeping Challenger Tour improvements, designed to strengthen the sport’s lower pathways and player earning potential.
Overall, this represents more than a 60 per cent increase on pre-pandemic levels.
The ATP's 2023 season will get underway just before the turn of the new year, with the advent of the inaugural United Cup, a new ATP and WTA joint team tournament. The season will convene with the Nitto ATP Tour Finals in Turin this time next year, and then with the Davis Cup Finals - an official ATP tour event for the first time - which will be the finale to the season.
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