Profit statements

ATP includes expanded tournaments, profit sharing

LONDON (AP) — The ATP men’s professional tennis tour announced reforms Thursday that include expanding five Masters 1000 events and sharing profits 50-50 between players and tournaments starting next year.

The changes approved by the ATP board also include an increase in prize money, all the result of more than two years of negotiations.

The “OneVision” phase one plan hopes to increase profits by bundling tournament revenue into ATP Media and tennis data innovations from the tour.

“Most importantly, it will unlock major growth opportunities in media and data, two highly scalable revenue streams,” the ATP said in a statement. “Embracing digital transformation will also move the tour away from an overreliance on ticketing, a concerted move seen in many other major sports.”

Players will receive verified tournament financials for the first time and “a revolutionary 50-50 profit sharing formula will align the interests of players and tournaments in the game’s growth as partners in success.”

From next year, the Masters events in Madrid, Rome and Shanghai will move from eight-day competitions to 12 days online with Indian Wells and Miami. Beginning in 2025, the Canada and Cincinnati events will develop similarly.

Prize money for the five expanded events will increase by more than 35%, the ATP said.

Rafael Nadal celebrates his victory against Corentin Moutet during the Roland-Garros Tennis Open. PHOTO: AFP