Turin, Nov 18 (AP) Player compensation on the ATP Tour and the lower-level ATP Challenger Tour will rise to a record $217.9 million combined in 2023, thanks to a $37.5 million increase announced that is the largest single-season jump for the men's tennis circuit.

On-site prize money will go up $18.6 million on the ATP Tour, boosted by the growth of Masters 1000 tournaments in Madrid, Rome and Shanghai from eight- to 12-day events. The Masters 1000s in Canada and Cincinnati will both expand to 12 days in 2025.

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The ATP is also increasing its 2023 bonus pools to $21.3 million, an 85% increase from 2022.

Prize money for the ATP Challenger Tour is set to go up 75% next season, from $12.1 million to $21.1 million.

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The ATP Tour said in June it was establishing a new profit-sharing formula that would result in more money going to players.

This is all apart from whatever potential growth in compensation might come next year at the four Grand Slam tournaments — the Australian Open, French Open, Wimbledon and U.S. Open — which are run independently of the ATP and WTA tours. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)