US Open tennis prizes to $50M by 2017
The U.S. Open tennis tournament will increase its annual prize money to $50 million by 2017 — nearly double what it was last year — and switch back to a Sunday men’s final in 2015, The Associated Press has learned.
As part of an unprecedented five-year agreement with the men’s and women’s professional tours, New York’s Grand Slam also is making an additional $4.1 million increase to this year’s prize pool, on top of an already-record $4 million jump announced in December. That brings the 2013 total payout to $33.6 million from the $25.5 million in 2012.
The moves, aimed at improving relations with players seeking a greater say in the sport and a larger slice of Grand Slam revenues, were formally presented to the ATP Player Council at a meeting Tuesday in Key Biscayne, Fla. Details were described to the AP by U.S. Tennis Association officials in telephone interviews after their session with representatives from the men’s tour.
The USTA planned to announce the changes Wednesday.
“Roger Federer said it perhaps best of all: It’s time for us to work together, as opposed to working against each other,” USTA Executive Director and Chief Operating Officer Gordon Smith said.
Federer, the 17-time major champion, is president of the ATP Player Council. He is not playing in the tournament that begins this week at Key Biscayne, but participated in Tuesday’s meeting via telephone.