Increase income to invest in the improvement and democratization of sport. That has always been the maxim of Andrea Gaudenzi, director of the ATP, who launches his star measure in the form of a financing program with which he ensures a minimum income for tennis players, even in the event of a serious injury.
Tennis is one of the most followed sports in the world and it could not afford the precarious situation in which many players had been stuck for too long. It is inconceivable that only the 150 best in the world could live comfortably from their profession, with alarming financial uncertainty existing in the modest strata of the ranking. The inequalities became apparent with the COVID stoppage, and since then, steps have been taken to improve prize money at Challenger tournaments, Grand Slam qualifiers, and opening rounds of major tournaments. But it was not enough. The ATP wanted to lead a radical change, a social revolution on the circuit, and they will do it through Baselineand Financial Security Program which will start in 2024, with a three-year trial format.
Andrea Gaudenzi He assumed his position as director of the ATP being very clear that he had to make notable structural changes and his experience as a mid-level player allowed him to get up close to the reality of the tennis player. In a sport in which the vast majority of income depends solely on a person’s athletic performance, the pressure is enormous and a salary margin is required to allow for unforeseen events, such as injuries. In addition, it must be taken into account that tennis players have teams that have to be paid for, it being of vital importance in these times to have a coach who can travel many weeks of the year, have a physical trainer and/or physiotherapist, and even some type of sports psychologist.
To improve, you have to invest and make bold decisions, which is what the ATP does with Baselinethe Financial Security Program, which is structured around three main pillars.
1. Guaranteed minimum income
Any tennis player who starts 2024 in the top-250 of the ATP ranking, has secured money with which to start the season, being able to invest it in expanding his work team, planning the trips he will make to play events and facing the year with greater peace of mind . All players in the top-100 will receive $300,000, from 101 to 175 will enter $150,000 and from 176 to 250, a total of $75,000. It is curious that there is no differentiation within the top-100, since the situation is not the same for someone who is in the top 10 as it is for someone close to leaving the top 100.
2. Protection against injury
A serious physical problem can be a real drama for any mid-range player, who, if he does not have a large financial background that allows him to face months without income, can suffer a lot. Starting in 2024, all players who cannot play at least nine ATP Tour or ATP Challenger Tour tournaments in a season due to injury will receive $200,000, if they are in the top-100. In the event that they are between positions 101 and 175, they would enter $100,000 and those who are located from position 176 to 250, will receive $50,000. This is intended to give players peace of mind, being able to face complete and safe recovery periods for their physical integrity, without so much need to rush their return.
3. Investment for newcomers
This fund is intended for those young players who are in the process of becoming professionals and who need considerable financial support to be able to make the definitive leap to the elite. Thus, those who enter the top-125 for the first time will have access to financing of $200,000 in order to be able to invest in their teams and do not depend exclusively on their results when acquiring the necessary economic support to continue growing. . Said amount will be a kind of loan that will return to the ATP if the player’s prize money the following year exceeds that amount.
2023-08-22 14:19:09
#Financial #program #revolutionizes #ATP #minimum #income #tennis #players
