Tennis-ATP players handed record $18.3 million profit-sharing bonus
The bonus amount, a 177% increase on the previous season's payout, will be distributed to players based on performance at the nine ATP 1000 tournaments, which rank just below the four Grand Slams in prestige.
"This is exactly what profit sharing was designed to do: ensure that players and tournaments share equally in the sport's financial upside," ATP Chairman Andrea Gaudenzi said.
"The $18.3 million is a huge milestone. For us, it's proof that strengthening the premium product and aligning interests creates value.
"We're proud to be strengthening our partnership and building a stronger, more sustainable ATP Tour."
The profit-sharing plan, introduced in 2022, splits profits generated at ATP Masters 1000 events – above onsite base prize money – equally between players and tournaments and is a cornerstone of the tour's OneVision strategic plan.
Profit-sharing helped push ATP player compensation to a record $261 million for the 2024 season for a total of $378 million when combined with Grand Slam prize money.
The men's elite body added that it was on track to deliver more compensation records, including $28.5 million in Challenger Tour prize money and a $3 million ATP 500 bonus pool.
The expansion of most of the Masters events to 96-player draws had increased earning opportunities for players, widening the number of those able to make a sustainable living from the sport, the ATP added.
It said there was a "wave of infrastructure investment" as Madrid, Rome, Cincinnati, Shanghai and Paris, among other venues, had upgraded facilities to enhance the experience for players and spectators.
(Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Ken Ferris)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
44 minutes ago
- Malay Mail
Alcaraz survives to reach Cincy semis as Rybakina topples No. 1 Sabalenka
CINCINNATI, Aug 16 — World number two Carlos Alcaraz fought off a fierce challenge from Andrey Rublev to reach the semi-finals of the ATP-WTA Cincinnati Open yesterday as women's defending champion Aryna Sabalenka was sent crashing by Elena Rybakina. Spain's Alcaraz broke Rublev in the final game of a tense duel to emerge a 6-3, 4-6, 7-5 winner and will face third-seeded Alexander Zverev, who brought the winning run of fifth-seeded Toronto champion American Ben Shelton to its end with a 6-2, 6-2 victory. Germany's Zverev complained of feeling dizzy and out of breath as he led by a set and a break, but benefitted from 27 unforced errors from a listless Shelton over 76 minutes. Zverev earned a 4-1 lead in the second set as Sheldon angrily tossed his racquet on the changeover, and the 2021 champion polished off the win on a second match point and now has 24 hours to try and get fit. 'I'm not feeling too great now, but I have a day to get fresh,' Zverev said. 'I hope to be at 100%. 'I'm not sure what happened. I felt very well but at the end of the first set it got progressively worse. 'But I'll do all I can to give it a shot tomorrow.' Alcaraz was broken while serving for victory at 5-4 in the final set against 11th-ranked Rublev, but he found his focus and used his trademark grit to come through three games later. He sealed the triumph as an emotional Rublev hit an eighth double-fault on match point. 'I maintained the positive thoughts even if I lost focus a bit in the second set,' said Alcaraz, whose five titles so far this year include the French Open as well as Masters 1000 trophies in Monte Carlo and Rome. 'Against Andrey, if you lose focus it can cost you the set—or the match... (Fighting back) is what I'm most proud of.' Rybakina revenge Top seeded Sabalenka had no answer for 2022 Wimbledon champion Rybakina, who beat the Belarusian 6-1, 6-4 to book a semi-final meeting with Wimbledon champion Iga Swiatek—a 6-3, 6-4 winner over Anna Kalinskaya. Rybakina claimed a fifth victory in her 12-match personal rivalry with Sabalenka, avenging a loss to the Belarusian in Berlin two months ago. Rybakina was aided by 11 aces as she reached her first Cincinnati semi-final. 'I'm happy with the serve. It was the key today,' Rybakina said. 'I served really well. 'If she had been serving well it would have been a totally different match,' she acknowledged. Rybakina has won her last three matches against Swiatek, all played this season. Swiatek needed 93 minutes and five match points to get past Kalinskaya in what she called 'the best match I played here. 'I'm happy that I'm progressing during the tournament,' said the former world number one from Poland. I just played my game,' she said. 'It was not easy but I'm happy that I stayed solid and kept my intensity,' In other quarter-final action, Veronika Kudermetova crushed Varvara Gracheva 6-1, 6-2 and awaits the winner of Friday night's match between world number two Coco Gauff and ninth-ranked Jasmine Paolini. — AFP
The Star
2 hours ago
- The Star
U-Blox says in talks about takeover by Advent
FILE PHOTO: A freeway intersection is seen in Pasadena, near Los Angeles, California, U.S., April 20, 2020. REUTERS/Lucy Nicholson/File Photo (Reuters) -Switzerland's U-Blox Holding, a maker of microchips and software for car navigation, said on Friday it was in talks with Advent International about being taken over by the private equity firm. "Whether a transaction will materialise is open at this stage," the company said in a statement. Advent declined to comment. Bloomberg reported the talks earlier, adding a deal might value U-Blox at more than 1 billion Swiss francs ($1.2 billion). U-Blox shares were up 19% at 1422 GMT at a three-year high, giving it a market value of about 1 billion francs. The technology group, which went public in 2007, said last week its first-half loss before interest and tax had reduced to 7.7 million francs from a loss of 28 million a year earlier. It cited cost cuts and a 32% jump in revenues to 123.4 million francs. Earlier this year, the company sold a unit making cellular modules for wireless communication to focus on fast-growing navigation and positioning technology used in cars, robots and farm equipment. Globally, dealmaking is up year-to-date, driven by a quest for growth in corporate boardrooms, falling interest rates in many countries, and the impact of a surge in AI activity. ($1 = 0.8048 Swiss francs) (Reporting by Ludwig Burger and Emma-Victoria Farr in Frankfurt. Editing by Rachel More and Mark Potter)
The Star
2 hours ago
- The Star
Democrats decry move by Pentagon to pause $800 million in nearly done software projects
FILE PHOTO: The Pentagon building is seen in Arlington, Virginia, U.S. October 9, 2020. REUTERS/Carlos Barria/File Photo WASHINGTON (Reuters) -Democrats took aim at the Trump administration after Reuters reported on Wednesday that the Navy and Air Force were poised to cancel nearly completed software projects worth over $800 million. The reason for the move was an effort by some officials at the services to steer new projects to companies like Salesforce and Palantir, in what could amount to a costly do-over. 'The Pentagon has yet to show that it had a good reason for halting these contracts in the last inning and scrapping work American tax dollars have already paid for," Democratic Senator Tim Kaine said in a statement. "If it can't show its homework, then this announcement - just days after Palantir's CEO spoke at Mike Johnson's Wyoming donor retreat - reeks of corruption.' Punchbowl reported this month that Palantir CEO Alex Karp planned to address Republican House Speaker Mike Johnson's annual big-donor retreat in Jackson Hole, Wyoming. The Pentagon and Air Force did not respond to requests for comment. The Navy declined to comment. Trump officials have said the administration is striving to make the contracting process more efficient. The comments show growing concern among Democratic lawmakers over waste at the Pentagon, even as Donald Trump took office vowing to rid the government of waste and abuse. The website of the Department of Government Efficiency, the agency he created to spearhead those efforts, lists over $14 billion in Defense Department contracts it claims to have canceled. But seven months into his presidency, some of his own actions have complicated DOGE's work, from firing the Pentagon's inspector general to issuing an executive order prioritizing speed and risk-taking in defense acquisitions. 'If you're serious about cracking down on waste, fraud, and abuse, the last thing you'd do is cancel $800 million in projects that are nearly ready to roll out just to turn around and steer the same work to corporations of your choosing," said Democratic Representative Maggie Goodlander, who sits on the House Armed Services Committee and served as an intelligence officer in the United States Navy Reserve. "This maneuver is an insult to taxpayers and servicemembers across America," she added. Salud Carbajal, another House Democrat who sits on the Armed Services Committee, said the behavior was part of a pattern of waste at the Pentagon under Trump. 'I understand that our military's acquisition and procurement processes aren't flawless, but this administration has repeatedly shown a blatant disregard for the responsible use of taxpayer dollars,' said Carbajal, citing "lavish" military parades and "unnecessary" troop deployments in Los Angeles. Democratic U.S. Representative Jill Tokuda, who also sits on the committee, echoed Carbajal's remarks. "Stripping away critical oversight guardrails is unnecessary and downright reckless," she said, adding that after many delays, the Pentagon was finally poised to implement military pay systems that could pass an audit. "Taxpayers should not fund sweetheart deals for the well connected." (Reporting by Alexandra Alper; Editing by Andrea Ricci)
