- WTA finals prize money is toning down talks of discontentment
- Saudi Arabia will host the famous WTA Finals for the next three years
- The prize money is so much that no player will resist
WTA finals prize money is toning down talks of discontentment over the tournament’s venue which is Saudi Arabia.
Saudi Arabia will host the famous WTA Finals for the next three years with a colossal amount in stake for all participants. Saudi’s Public Investment Fund (PIF) views the financial commitment on its part as a key driver in transforming women’s tennis.
WTA Finals Prize Money in Saudi Arabia
The 2024 WTA Finals prize money will be $16 million (€15.25 million). Although the WTA has injected some amount into the prize pool, Saudi has contributed generously to this kitty.
It is a major shift this year after a similar mediocre tournament held in Cancun, Mexico in 2023. Saudi Arabia ceased the opportunity to make inroads into tennis despite resistance from different quarters.
Saudi Arabia Public Investment Fund (PIF). Photo/Fox Sports
The money on offer is significantly more than what all of the players who make it to the final eight of Grand Slam competitions receive. And this might sway some opponents opposed to the Gulf nation hosting tennis tournaments.
Steve Simon, the WTA CEO and chairman said that having the tournament in Riyadh is a new opportunity for women tennis players.
“Bringing the WTA Finals to Riyadh is an exciting new opportunity for us and a positive step for the long-term growth of women’s tennis as a global and inclusive sport. We’ve been impressed by the commitment shown by the Saudi Tennis Federation to grow the sport at all levels, and we have no doubt that players and fans can look forward to a world-class event in Riyadh as the finale to the 2024, 2025 and 2026 seasons,” Tennis365 reports.
Why is Saudi’s PIF Funding Tennis?
The unpleasant truth is that Saudi Arabia’s Public Investment Fund is providing a range of sports with the kind of financial boost that cannot be disregarded, even though this WTA announcement will undoubtedly draw more criticism.
The WTA will benefit from a collaboration that will enable them to solidify their organization on a stable financial basis, in addition to the top eight female players who will profit from this new agreement.
This will be beneficial for women’s tennis overall, as it persists in its frequently futile quest for parity with the men’s game.
ATP Tour stars such as Jannik Sinner, Carlos Alcaraz, and Novak Djokovic continue to draw significantly more commercial opportunities and media attention.
This is more than athletes who possess an equivalent ranking on the WTA Tour.
Is Saudi Arabia Buying ATP and WTA?
It is now public that the Saudi Arabian Public Investment Fund, is entering the tennis scene, which may mean significant changes. In recent months, there have been reports suggesting that PIF was keen to take a significant step into the tennis world.
A past photoshoot of WTA Finals in SIngapore. Photo/Sky SPorts
This follows their accomplishments in a variety of other sports, including boxing, football, and golf. It started with the Next Gen Finals, an ATP tournament featuring the top 8 male tennis players in Jeddah.
Now, it is the WTA Finals going down in Jeddah with a huge prize pool at stake. Nevertheless, this deal will provide the WTA Tour an opportunity to use the additional income to broaden its horizons and promote the women’s game to a wider audience, even though the harsh reality may remain the same.
There will always be those who oppose Saudi investment in sports, but they have already made significant inroads in football, boxing, and golf, and they are now keenly pursuing tennis.
It ensures that every single top player in the game will prioritize that tournament at the start of the year.
PIF is considering expanding its tennis program by launching a breakaway tour that would compete in each of the four Grand Slam events.
Tennis Channel reporter Jon Wertheim first shared this on social media and a divisive debate ensued. Essentially, with PIF buying off WTA and ATP Tour, it means that there will be and additional Grand Slam or Masters 1000 event.
The US Open, French Open, Wimbledon and Australian Open These four slams will be rebuilt to also feature a tournament in Saudi Arabia.
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