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Grand Slam prize money is enormous. The economics of tennis tournaments is complicated

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Grand Slam prize money is enormous. The economics of tennis tournaments is complicated

Four times a year, one of the biggest and most important tennis tournaments in the world sends out an announcement full of dollar signs and zeroes with the words “record prize money” scattered liberally.

The four Grand Slams, the first of which begins Sunday in Melbourne, are the high points of the tennis calendar. Players at the 2025 Australian Open will compete for $59million (£47m) this year — over $6.2m more than last year. In 2024, the four tournaments paid out over $250m between them, while their leaders spent the year aligning themselves with the players who make their events unmissable, whose gravity pulls in the broadcast deals and sponsorships, with their own dollar signs and zeroes.

Led by Australian Open chief Craig Tiley, the Grand Slams led the movement for a so-called premium tour which would pare down the overloaded tennis calendar and guarantee top players always being in the same events, let alone time zones. It would also lock swaths of the globe out of the worldwide spectacle that tennis represents.

The great irony is that despite the largesse and the cozy relationship, the players get a smaller cut of the money at the Grand Slams than they do in most of the rest of the rest of that hectic, endless season — and a fraction of what the best athletes in other sports collect from their events. The Australian Open’s prize pool amounts to about a 15-20 percent cut of the overall revenues of Tennis Australia, the organization that owns and stages the tournament, which accounts for nearly all of its annual revenue. The exact numbers at the French Open, Wimbledon and U.S. Open vary, but that essential split is roughly a constant. The 2023 U.S. Open had a prize pool of $65m against earned revenue from the tournament that came out at just over $514m, putting the cut at about 12 percent. The U.S. Open accounted for just under 90 percent of USTA revenues that year.

The explanations from the Grand Slams, which collectively generate over $1.5bn (£1.2bn) a year, run the gamut. They need to dedicate hundreds of millions of dollars each year to fund junior tennis development and other, less profitable tournaments in their respective nations — an obligation pro sports leagues don’t have. There is a constant need to upgrade their facilities, in the silent race for prestige and primacy of which the constant prize money one-upmanship is just one element.

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Aryna Sabalenka with her winner’s check at the 2024 U.S. Open. (Emaz / Corbis via Getty Images)

That dynamic is not lost on players — least of all Novak Djokovic, the top men’s player of the modern era and a co-founder of the five-year-old Professional Tennis Players Association (PTPA).

“I’m just going to state a fact,” Djokovic said during a post-match news conference in Brisbane last week.  “The pie split between the governing bodies in major sports, all major American sports, like NFL, NBA, baseball, NHL, is 50 percent. Maybe more, maybe less, but around 50 percent.

“Ours is way lower than that.”


Since 1968, the first year in which the four majors offered prize money as part of the Open Era’s embrace of professional tennis players, the purses have only grown. The 1968 French Open was the first to offer prize money, with Ken Rosewall earning just over $3,000 for beating Rod Laver in the final. The women’s singles champion, Nancy Richey, was still an amateur player, so could not claim her $1,000 prize. By 1973, lobbying from Billie Jean King helped convince the U.S. Open to make prize money equal for men and women through the draws; it took another 28 years for the Australian Open to do so year in, year out. Venus Williams’ intervention helped force the French Open and Wimbledon to follow suit in 2007.

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Fifty years after Rosewall’s triumph in Paris, the 2018 men’s champion Rafael Nadal took home $2.35million, an increase of over 73,000 percent. The year-on-year increases at each major are more modest, usually between 10 and 12 percent, but that percentage of tournament revenue remains steadfast, if not entirely immovable.

The Grand Slams argue that there are plenty of hungry mouths at their table, many more than just the 128 players that enter each singles draw each year.

Tennis Australia is a not-for-profit and a business model built on significant investment into delivering the event and promoting the sport to drive momentum on revenue and deliver consistently increasing prize money,” Darren Pearce, the organization’s chief spokesperson, said in a statement this week.

Money from the Australian Open also helps fund tournaments in Brisbane, Adelaide and Hobart, as well as the United Cup, the combined men’s and women’s event in Perth and Sydney. Pearce said the prize money increases outpace the revenue growth.

The Grand Slams also point to the millions of dollars they spend on player travel, housing, transportation and meals during tournaments, though team sport athletes receive those as well. Eloise Tyson, a spokesperson for the All England Lawn Tennis Club, which stages Wimbledon, noted that overall Grand Slam prize money had risen from $209million in 2022 to $254m last year, a 22 percent increase.

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“Alongside increasing our player compensation year-on-year, we continue to make significant investment into the facilities and services available for players and their teams at The Championships,” Tyson wrote in an email.

Officials with France’s tennis federation, the FFT, which owns the French Open, did not respond to a request for comment.

Brendan McIntyre, a spokesman for the United States Tennis Association, which owns the U.S. Open, released a statement this week touting the USTA’s pride in its leadership on player compensation, including offering equal prize money and the largest combined purse in tennis history at the 2024 US Open. A first-round exit earned $100,000, up 72 percent from 2019. Just making the qualifying draw was good for $25,000.

“As the national governing body for tennis in the U.S, we have a broader financial obligation to the sport as a whole,” the organization said.

“The USTA’s mission is to grow tennis at all levels, both in the U.S. and globally, and to make the sport accessible to all individuals in order to inspire healthier people and communities.”

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The infrastructure required to stage a Grand Slam tournament is vast — on and off the court. (Glen Davis / Getty Images)

None of the organizations outlined a specific formula for determining the amount of prize money they offered each year, which is roughly the same as a percentage of their parent organizations overall revenues. That may be a coincidence, though the Grand Slams also have the benefit of not facing any threat to their primacy.

The USTA’s statement gestures at how the structure of tennis contributes to this financial irony. In soccer, countries and cities bid to host the Champions League and World Cup finals; the Olympics changes every four years and even the Super Bowl in the NFL moves around the United States, with cities and franchises trying to one-up one another.

The four Grand Slams, though, are the four Grand Slams. There are good reasons for this beyond prestige: the infrastructure, both physical and learned, required to host a two- or three-week event at the scale of a major year in, year out is available to a vanishingly small number of tennis facilities around the world. There is no opportunity for another organization or event to bid to replace one of the Grand Slams by offering a richer purse or other amenities.

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This dynamic has been in place for years and has become more important in recent months. The PTPA has hired a group of antitrust lawyers to evaluate the structure of tennis. The lawyers are compiling a report on whether the the sport includes elements that are anti-competitive, preparing for a possible litigation with the potential to remake the sport.

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The ATP and WTA Tours, which sanction 250-, 500- and 1000-level events as well as the end-of-season Tour Finals, give players a larger share of revenue. There is some disagreement between players and officials over how much it is and the methods of accounting; some player estimates hover around 25 percent, while tour estimates can be in the range of 40 percent. Both remain short of the team equivalents in the United States.

On the ATP Tour, the nine 1000-level tournaments have a profit-sharing agreement that, in addition to prize money, gives players 50 percent of the profits under an agreed-upon accounting formula that sets aside certain revenues and subtracts certain costs, including investments the tournaments make in their facilities. The WTA does not have such an agreement. It outlines a complex prize money formula in its rule book with pages of exceptions, not based on a guaranteed share of overall tour revenues.

The tours have argued that because media rights payments constitute a lower percentage of revenues than at the Grand Slams, and because the costs of putting on tournaments are so high, a 50-50 revenue share would simply turn some tournaments into loss-making entities and make tennis unsustainable as a sport.

James Quinn, one of the antitrust lawyers hired by the PTPA, said he saw serious problems with the model, describing a structure that prevents competition from rival tournaments.

Some events outside the 52-week program of tournaments — which see players earn ranking points as well as money — have official status (the Laver Cup is sanctioned by the ATP). But the remainder, such as the Six Kings Slam in Riyadh, which debuted this year and offered record prize money of over $6million to the winner, are not sanctioned, for now providing only a peripheral form of competition to ruling bodies’ control of the sport.

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Jannik Sinner took home the money at the inaugural Six Kings Slam in Riyadh. (Richard Pelham / Getty Images)

The Grand Slams, ATP and WTA insist this is for the best. They see themselves as caretakers of global sport trying to bring some order where chaos might otherwise reign.

Djokovic doesn’t totally disagree. He understands tennis is different from the NBA. He’s led the Player Council at the ATP, which represents male professionals, and he has seen how the sausage gets made and how complicated it is with so many tournaments of all shapes and sizes in so many countries. At the end of the day, he still thinks players deserve more than a 20-percent cut, especially since the Grand Slams don’t make the kinds of contributions to player pension plans or end-of-the-year bonus pools that the ATP does, nor do they provide the year-round support of the WTA.

“It’s not easy to get everybody in the same room and say, ‘OK, let’s agree on a certain percentage,’” he said of the leaders of tournaments.

“We want more money, (but) they maybe don’t want to give us as much money when we talk about the prize money. There are so many different layers of the prize money that you have to look into. It’s not that simple.”

(Photos: Kelly Delfina / Getty Images, Steven / PA via Getty Images; design: Dan Goldfarb)

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Culture

6 Poems You Should Know by Heart

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6 Poems You Should Know by Heart

Literature

‘Prayer’ (1985) by Galway Kinnell

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Whatever happens. Whatever
what is is is what
I want. Only that. But that.

Galway Kinnell in 1970. Photo by LaVerne Harrell Clark, © 1970 Arizona Board of Regents. Courtesy of the University of Arizona Poetry Center

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“I typically say Kinnell’s words at the start of my day, as I’m pedaling a traffic-laden path to my office,” says Major Jackson, 57, the author of six books of poetry, including “Razzle Dazzle” (2023). “The poem encourages a calm acceptance of the day’s events but also wants us to embrace the misapprehension and oblivion of life, to avoid probing too deeply for answers to inscrutable questions. I admire what Kinnell does with only 14 words; the repetition of ‘what,’ ‘that’ and ‘is’ would seem to limit the poem’s sentiment but, paradoxically, the poem opens widely to contain all manner of human experience. The three ‘is’es in the middle line give it a symmetry that makes its message feel part of a natural order, and even more convincing. Thanks to the skillful punctuation, pauses and staccato rhythm, a tonal quality of interior reflection emerges. Much like a haiku, it continues after its last words, lingering like the last note played on a piano that slowly fades.”

“Just as I was entering young adulthood, probably slow to claim romantic feelings, a girlfriend copied out a poem by Pablo Neruda and slipped it into an envelope with red lipstick kisses all over it. In turn, I recited this poem. It took me the remainder of that winter to memorize its lines,” says Jackson. “The poem captures the pitch of longing that defines love at its most intense. The speaker in Shakespeare’s most famous sonnet believes the poem creates the beloved, ‘So long as men can breathe or eyes can see, / So long lives this, and this gives life to thee.’ (Sonnet 18). In Rilke’s expressive declarations of yearning, the beloved remains elusive. Wherever the speaker looks or travels, she marks his world by her absence. I find this deeply moving.”

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Lucille Clifton in 1995. Afro American Newspapers/Gado/Getty Images

“Clifton faced many obstacles, including cancer, a kidney transplant and the loss of her husband and two of her children. Through it all, she crafted a long career as a pre-eminent American poet,” says Jackson. “Her poem ‘won’t you celebrate with me’ is a war cry, an invitation to share in her victories against life’s persistent challenges. The poem is meaningful to all who have had to stare down death in a hospital or had to bereave the passing of close relations. But, even for those who have yet to mourn life’s vicissitudes, the poem is instructive in cultivating resilience and a persevering attitude. I keep coming back to the image of the speaker’s hands and the spirit of steadying oneself in the face of unspeakable storms. She asks in a perfectly attuned gorgeously metrical line, ‘what did i see to be except myself?’”

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‘Sonnet 94’ (1609) by William Shakespeare

They that have power to hurt and will do none,
That do not do the thing they most do show,
Who, moving others, are themselves as stone,
Unmovèd, cold, and to temptation slow,
They rightly do inherit heaven’s graces
And husband nature’s riches from expense;
They are the lords and owners of their faces,
Others but stewards of their excellence.
The summer’s flower is to the summer sweet,
Though to itself it only live and die;
But if that flower with base infection meet,
The basest weed outbraves his dignity.
For sweetest things turn sourest by their deeds;
Lilies that fester smell far worse than weeds.

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“It’s one of the moments of Western consciousness,” says Frederick Seidel, 90, the author of more than a dozen collections of poetry, including “So What” (2024). “Shakespeare knows and says what he knows.”

“It trombones magnificent, unbearable sorrow,” says Seidel.

“It’s smartass and bitter and bright,” says Seidel.

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These interviews have been edited and condensed.

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Classic and Contemporary Literature From France, Japan, India, the U.K. and Brazil

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Classic and Contemporary Literature From France, Japan, India, the U.K. and Brazil

Literature

FRANCE

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According to the writer Leïla Slimani, 44, the author of ‘The Country of Others’ (2020).

Classic

‘Essais de Montaigne’ (‘Essays of Montaigne,’ 1580)

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“France is a country of nuance with a love of conversation and freedom and an aversion to fanaticism. It’s also a country built on reflexive subjectivity. Montaigne reveals all that, writing, ‘I am myself the matter of my book.’”

Contemporary

‘La Carte et le Territoire’ (‘The Map and the Territory,’ 2010) by Michel Houellebecq

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“Houellebecq describes France as a museum, where landscape turns into décor and where rural areas are emptying out. He shows the gap between the Parisian elite and the rest of the population, which he paints as aging and disoriented by modernity. It’s a melancholic and yet ironic novel about a disenchanted nation.”

JAPAN

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According to the writer Yoko Ogawa, 64, the author of ‘The Memory Police’ (1994).

Classic

‘Man’yoshu’ (late eighth century)

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“‘Man’yoshu,’ the oldest extant collection of Japanese poetry, reflects a diversity of voices — from emperors to commoners. They bow their heads to the majesty of nature, weep at the loss of loved ones and find pathos in death. The pages pulse with the vitality of successive generations.”

Contemporary

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‘Tenohira no Shosetsu’ (‘Palm-of-the-Hand Stories,’ 1923-72) by Yasunari Kawabata

“The essence of Japanese literature might lie in brevity: waka [a classical 31-syllable poetry form], haiku and short stories. There’s a tradition of cherishing words that seem to well up from the depths of the heart, imbued with warmth. Kawabata, too, exudes more charm in his short stories — especially these very short ‘palm-of-the-hand’ stories — than in his full-length novels. Good and evil, beauty and ugliness, love and hate — everything is contained in these modest worlds.”

INDIA

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According to Aatish Taseer, 45, a T contributing writer and the author of ‘Stranger to History: A Son’s Journey Through Islamic Lands’ (2009).

Classic

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‘The Kumarasambhava’ (‘The Birth of Kumara,’ circa fifth century) by Kalidasa

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“This is an epic poem by the greatest of the classical Sanskrit poets and dramatists. The gods are in a pickle. They’re being tormented by a monster, but Shiva, their natural protector, is deep in meditation and cannot be disturbed. Kama, the god of love, armed with his flower bow, is sent down from the heavens to waken Shiva. Never a wise idea! The great god, in his fury, opens his third eye and incinerates Kama. But then, paradoxically, the death of the god of love engenders one of the greatest love stories ever told. In the final canto, Shiva and his wife, the goddess Parvati, have the most electrifying sex for days on end — and, 15 centuries on, in our now censorious time, it still leaves one agog at the sensual wonder that was India.”

Contemporary

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‘The Complex’ (2026) by Karan Mahajan

“This state-of-the-nation novel, which was published just last month, captures the squalor and malice of Indian family life. Delhi is both my and Mahajan’s hometown and, in this sprawling homage to India’s capital, we see it on the eve of the economic liberalization of the 1990s, as the old socialist city gives way to a megalopolis of ambition, greed and political cynicism.”

THE UNITED KINGDOM

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According to the writer Tessa Hadley, 70, the author of ‘The London Train’ (2011).

Classic

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‘Jane Eyre’ (1847) by Charlotte Brontë

“Written almost 200 years ago, it remains an insight into our collective soul — or at least its female part. Somewhere at the heart of us there’s a small girl in a wintry room, curled up in the window seat with a book, watching the lashing rain on the window glass: ‘There was no possibility of taking a walk that day. …’ Jane’s solemnity, her outraged sense of justice, her trials to come, the wild weather outside, her longing for something better, for love in her future: All this speaks, perhaps problematically, to something buried in the foundations of our idea of ourselves.”

Contemporary

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‘All That Man Is’ (2016) by David Szalay

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“Though he isn’t quite completely British (he’s part Canadian, part Hungarian), Szalay is brilliant at catching certain aspects of British men — aspects that haven’t been written about for a while, now updated for a new era. Funny, exquisitely observed and terrifying, this novel reminds us, too, how absolutely our fate and our identity as a nation belong with the rest of Europe.”

BRAZIL

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According to the writer and critic Noemi Jaffe, 64, the author of ‘What Are the Blind Men Dreaming?’ (2016).

Classic

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‘Memórias Póstumas de Brás Cubas’ (‘The Posthumous Memoirs of Brás Cubas,’ 1881) by Machado de Assis

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“Not only is it experimental in style — very short chapters mixed with long ones; different points of view; narrated by a corpse; metalinguistic — but it also introduces an extremely ironic view of the rising bourgeoisie in Rio de Janeiro at the time, revealing the hypocrisy of slave owners, the falsehood of love affairs and the only true reason for all social relationships: convenience and personal interest. After almost 150 years, it’s still modern, both formally and, unfortunately, also in content.”

Contemporary

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‘Onde Pastam os Minotauros’ (‘Where Minotaurs Graze,’ 2023) by Joca Reiners Terron

“The two main characters — Cão and Crente — along with some of their colleagues, plan to escape and set fire to the slaughterhouse where they work under exploitative conditions. The men develop sympathy for the animals they kill, and one of them becomes a sort of philosopher, revealing the sheer nonsense of existence and the injustices of society in the deepest parts of Brazil.”

These interviews have been edited and condensed.

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6 Myths That Endure

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6 Myths That Endure

Literature

The Myth of Meeting Oneself

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“This is evident in Virgil’s ‘Aeneid’ (circa 30-19 B.C.) when Aeneas witnesses his own heroic actions depicted in murals of the Trojan War in Juno’s temple, and again in Miguel de Cervantes’s ‘Don Quixote’ (1605-15) when Quixote enters a printer’s shop and finds a book that has been published with fake details about his quest even as he’s living it,” says Ben Okri, 67, the author of “The Famished Road” (1991) and “Madame Sosostris and the Festival for the Brokenhearted” (2025). “In both stories, individuals throw themselves into the world and think they encounter objects, personae, obstacles and antagonists, but what they actually encounter is themselves. In our time, where our actions meet us in the echo chamber of social media, the process is magnified and swifter. Now a deed doesn’t even have to take place for it to enter the realm of reality.”

The Myth of Utopia

“I’ve always had trouble with the idea of utopia, feeling it derives its energy more from what it wishes to dismantle than what it wishes to enact,” says the T writer at large Aatish Taseer, 45, the author of “Stranger to History: A Son’s Journey Through Islamic Lands” (2009). “Ram Rajya, or the mythical rule of the hero Ram in the Hindu epic ‘Ramayana’ (seventh century B.C.-third century A.D.), like all visions of perfection, contains a built-in violence.”

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The Myth of Invisibility

“Invisibility bears power and powerlessness at the same time,” says Okri. “In ancient cultures, it was a gift of the gods. Jesus, for example, walks unrecognized among his disciples, and in Greek myths, Scandinavian legends and ancient African tales, heroes are gifted invisibility in the form of cloaks, sandals or spells. Modern works like the two ‘Invisible Man’ novels, by H.G. Wells (1897) and Ralph Ellison (1952), and the ‘Harry Potter’ novels (1997-2007) by J.K. Rowling reach back to those ideas. But today, people talk about visibility as the highest form of social agency, while invisibility can render a whole class, race, caste or gender unseen.”

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The Myth of Steadiness vs. Speed

Charles Henry Bennett’s illustration “The Hare and the Tortoise” (1857). Alamy

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“‘The Tortoise and the Hare,’ one of Aesop’s fables (sixth century B.C.), doesn’t necessarily strike a younger person as promising — possibly it has a whiff of morality in it,” says Yiyun Li, 53, the author of “A Thousand Years of Good Prayers” (2005) and “Dear Friend, From My Life I Write to You in Your Life” (2017). “But the longer I live and work, the more I understand that it’s the tortoiseness in a person that carries one along, not the swiftness of the mind and body of the hare.”

The Myth of Magic

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William Etty’s “The Sirens and Ulysses” (1837). Bridgeman Images

“Ancient magical tales like Homer’s ‘Odyssey’ (late eighth to early seventh century B.C.) were allegories of transformation, of secret teachings,” says Okri, “whereas modern forms of magic are narrative devices and tropes of storytelling that continue the child’s wonder of life. I think of F. Scott Fitzgerald’s ‘The Great Gatsby’ (1925), Gabriel García Márquez’s ‘One Hundred Years of Solitude’ (1967) and, again, the ‘Harry Potter’ books. The intuition of magic persists even in these atheistic and science-infested times, where nothing is to be believed if it can’t be subjected to analysis. This is perhaps because the ultimate magic confronts us every day in the mystery of consciousness. That we can see anything is magical; that we experience love is magical; and perhaps the most magical thing of all is the imagination’s unending power to alter the contents and coordinates of reality. It hides tenaciously in the act of reading, which is the most generative act of magic.”

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The Myth of the Immortal Soul

“ ‘The soul is birthless and eternal, imperishable and timeless and is not destroyed when the body is destroyed,’ says Krishna in the ‘Bhagavad Gita’ (second century-first century B.C.). This belief in the immortality of the soul — what used to be called Pythagoreanism in ancient Greece — is still the most pervasive myth in India,” says Taseer, “and has more influence over behavior and how one lives one’s life than any other.”

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These interviews have been edited and condensed.

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