ATP Cincinnati Open is also known as the Cincinnati Masters or the Western and Southern Open. It’s an outdoor event held annually in Mason, Ohio.
ATP Cincinnati Open remains the oldest tennis competition in the US that’s still staged in its original venue. Making this annual tournament requires considerable planning and investment of significant resources. Read on to find out more about the hidden financial side behind this grandiose sports event.
ATP Cincinnati Open Player Rewards
The most significant expense at ATP Cincinnati Open is the total prize money paid to winners and participants. In 2020, this amount was $6,297,080. This was slightly more than the $6,056,280 paid out in 2019. In 2006, the total payout was $2,200,000.
As you can see from these values, the total prize money is not a fixed figure. The tournament’s organizers continuously increase payouts. They mainly focus on awarding lower-tiered participants more money given the general significant difference between top tier and low tier players’ payouts.
Nevertheless, they always ensure that the champions are well rewarded for their effort. The prize money is split between the different levels of the singles and doubles contests. Both winners and losers at various competition levels receive payments.
Players who fall within the top 8 in the end-of-year rankings receive approximately $175,000 as participation fees. That’s even if they don’t win any match.
Meanwhile, a player who wins a tournament without losing any game receives a bonus. In 2020, it stood at $1,564,000. Participating in the finals earns you about a third of the winner’s bonus.
Also, the organizers routinely pay appearance fees for certain top players. But this amount is often kept a closely guarded secret. However, for top-ranking players such as Nadal or Federer, the amount could easily hit the $1 million mark.
Trainers’ Salaries
Apart from the prize money, there’s also the amount paid to trainers. Unlike football, where club contracts bind coaches, tennis coaches typically sign personalized agreements with their respective players.
The amount they receive for coaching depends on the rank of their trained player. The coaches who receive the highest income are generally those working with top-ranked players.
Tennis coaches may have income and jobs similar to others. But they tend to be accompanied by more extensive entourages paid from the amount allocated to training sessions.
For example, a coach of a player who ranks among the top 100 professional players makes about $1,000 to $2,500 every week. However, coaches of players who rank below 150 may receive about $500 per week or less. It all depends on the nature of their contract.
Generally, the salary depends on multiple factors:
– Base salary;
– Special performance bonuses;
– Winning percentage;
– Ranking bonuses;
– Tournament price money.
Regarding the prize money, the fraction paid out to the coach typically ranges between 5% and 15%. It varies depending on the level and performance of the player.
Players’ Contracts for Advertising
Sponsorship payments also make up a significant part of the economics of ATP Tennis Tournaments. Just like bonuses, the sponsorship amount for each player depends on their ranking and success.
The top 30 players typically receive sponsorships for their gear from sports apparel manufacturers. They include Adidas, Nike, Lacoste, Ellesse, Fila, Wilson, and Yonex, among other sponsors. Don’t forget about monetary rewards, since they usually accompany these deals. High-ranking players such as Roger Federer also receive extra lucrative sponsorship deals from a myriad of other organizations.
For instance, in 2019, Roger Federer earned approximately $86 million in sponsorship deals from Mercedes Benz, Credit Suisse, and Uniqlo.
Tournament Bets
The popularity of professional tennis makes it an attractive platform for sports betting.
Concerns over the integrity of the sports following match-fixing claims recently prompted the suspension of betting activities in 2018. But ATP restored them in 2020 after taking some preventive measures.
The new regulations bar players from signing sponsorship deals with gambling operators. In addition, they prohibit the players from wearing kits that promote gambling, acting as brand ambassadors for these organizations, and appearing in betting advertisements.
Essentially, players must not benefit from gambling activities. It’s only ATP organizers that can sign sponsorship deals with daily fantasy and betting firms.
Summary
To sum it up, ATP Cincinnati Open is one of the most popular and oldest annual tennis tournaments in the US. Several parties play a role in the economics of the tournaments. The total prize money plays the most significant role in driving the event’s economics.
But trainers’ salaries, sponsorship deals, fines, and betting activities also contribute to its economics. Indeed, various parties drive the multimillion economics of ATP Cincinnati Open. All in all, when you will watch ATP Cincinnati Open, following your favourite athletes, you will know what is hidden behind the scenes of such an enchanting sports event.