Tennis is the world’s most popular individual sport. Tennis gets played by over 50 million people around the world. Only about 500 people out of the 50 million active players make it to the top and term pros. Tennis players in other sports do not have a contract with a team that guarantees them money. But, how do tennis players generate money, and how much do professional tennis players make? Let’s have a look.
Tennis players make money in a variety of ways.
Tournament prize money, sponsorship deals, performing exhibitions, and bonuses are all sources of revenue for professional tennis players. The top players who compete on the ATP Tour regularly make their money through endorsement deals. Lower-ranked players make money through prize money from various competitions.
Tennis Player Earnings on the Average.
So, how does an average tennis player earn? Between 2015 and 2019, the average prize money for a tennis player was $113,478 per year (or $1,940 per match). The top-paid athlete earned $14,406,932 per year, while the lowest-paid player earned only $1,126 per year.
Only 195 (13 per cent) players have more than $100,000 each year, another 69 (5 percent) earn more than $50,000, and 124 (8 per cent) get more than $20,000. That means 76% of all participants earned less than $20,000 each year.
In What are the Ways Tennis Player Earn?
Tennis players can earn money in six distinct methods, the most lucrative of which are prize money and endorsements. The amount of money awarded to players for executing their job well playing tennis – is known as prize money. This value varies substantially depending on the type of tournament and the round achieved by the player.
Endorsements are more concerned with the player’s personality, nationality, and appearance. These are deals provided by companies who want their products to be associated with a specific player and viewed by millions of people while the player is on television.
Elite players get the majority of their money through endorsements. Lower-rank players can’t take advantage of these opportunities, leaving them to rely only on prize money.
Prize money for the tournament.
Tennis players can make a full-time living only through tournament prize money. It, however, only applies to players who rank in the top 100. Outside the 100 players compete in challenger competitions. The prize money in these tournaments is a fraction of what is available in the larger ATP and Grand Slam tournaments.
The first is Wimbledon, a grand slam competition. Because it is one of the most prominent events, there is a lot of money at stake. The ATP Miami is one of the ATP Tour’s many tournaments. Even though it isn’t as prominent as Wimbledon, this tournament attracts all the best players. The prize money reason why the best players are coming here.
The majority of the players competing in Wimbledon and ATP Miami ranked in the top 100. In the most recent Sparkasse Challenger, the players ranked outside the top 100. You can see the prize money for tournaments is small the larger tournaments.
Industry And Years of Experience.
Tennis players compete in national and international professional tennis tournaments. They work irregular schedules that include weekends, evenings, and holidays, and they compete during the summer in the United States. They are, however, required to work at least 40 hours per week as they train, practise, and improve their game. A professional tennis player’s career is generally brief, and most professional tennis stars retire 35.
While time and experience might help you earn more money, your compensation determines your talent and the number of competitions you win. Men’s contests on the USTA futures pro circuit aim at elite juniors and college players. It offers prize money ranging from $15,000 to $25,000 in prize money.
The equivalent sum for seasoned professional players is $75,000 to $125,000. Qualifiers for the US Open are effectively the top 100 players, earn $50,000 simply for competing in their first event. As a player continues through the rounds, this figure grows dramatically. The winner won $3,700,000 in 2017.
Tennis is a popular sport for businesses, and negotiating sponsorship deals is one of the most lucrative income streams for many tennis players, particularly the more well-known ones. The richest tennis player does not necessarily have to be the one who wins the most event prize money. The wealthier players are frequently the ones with the best endorsement deals.
Roger Federer has agreed to a €250 million contract with Uniqlo, a Japanese apparel brand. Federer will be paid €250 million throughout the ten-year pact. It is peculiar because Federer will be 47 when the contract expires, and Uniqlo will benefit less from the alliance as Federer departs from tennis.
Roger Federer receives roughly €50 million in endorsements each year, in addition to the Uniqlo deal. You may compare that to his annual tournament winnings of around €10 million. As a result, it’s safe to assume that endorsement agreements are crucial. Roger Federer earns far more money from sponsorship deals than any other player.
Novak Djokovic isn’t as well-known as Roger Federer, but he’s still a good fit for businesses looking for visibility. The tennis company Head, the watch brand Seiko, and the apparel brand Lacoste are Djokovic’s main sponsors. If you watch him play, you’ll see that he’s always dressed in Lacoste and using a Head racquet.
Every year he receives €8 million from Lacoste and roughly €4,5 million from Seiko. Novak has resigned from Head’s sponsorship four times, and the contract presently pays him almost €7 million each year. He earns roughly €20 million each year in endorsement deals.
Tennis can only be a profitable job for a small number of players, as you’ve undoubtedly figured out by now. Life is fantastic for those who make it, and you will probably not need to work after your 30s. The vast majority of tennis players on tour are unable to break even and forced to quit and pursue a career as a tennis coach or attempt to break into the corporate sector.