The players’ lobby group, embroiled in a lawsuit with tennis authorities, wants $1 billion in investment to finance a radical restructuring of the professional game based on a new Pinnacle Tour, which would provide more prize money for the top men and women despite playing fewer tournaments.
In a direct challenge to the ATP and WTA tours, the Professional Tennis Players Association has developed a new blueprint for the sport, Future Tennis, which was sent to more than 20 investment banks and financial advisory firms on Tuesday.
The PTPA, which is suing both tours and three of the four grand slam tournaments in New York court, is said to have worked with Tennis Australia to draw up the proposed new structure after the players’ lobby group withdrew its legal claim against the Australian Open organizers.
As reported this week, the terms of that settlement agreement will see Tennis Australia cooperating with the PTPA against the other grand slam tournaments in the lawsuit, including providing confidential financial information, in exchange for being removed from the claim and avoiding liability for potential damages that could amount to tens of millions of pounds.
A source involved in the production of the Future Tennis document, which was first reported by the Daily Telegraph, has said it is an attempt to develop a framework for settling the lawsuit and building a better future for tennis, but the tours and slams are unlikely to see it that way.
The details of Tennis Australia’s legal settlement with the PTPA had already inflamed existing tensions with the other grand slams, with a source involved claiming the latest development has brought the sport to the brink of civil war.
The PTPA has grown to represent more than 600 professionals since it was founded six years ago by Novak Djokovic and Canadian Vasek Pospisil to push for more prize money and a greater say in running the sport, although the 24-time grand slam winner announced he would be stepping back from the organization this month.
Since filing the lawsuit last March, the PTPA’s focus appears to have shifted to pressuring the tennis authorities to settle the claim, especially given the deal with Tennis Australia, and a successful funding round would strengthen its position by opening up the possibility of a breakout tour. The Future Tennis document is highly critical of the sport’s existing structure and governance framework, stating that “professional tennis has been underperforming its potential for years”, and also points to “deeper structural problems: a fragmented but oppressive governance model, a confusing and inaccessible calendar for fans, and player compensation that is artificially capped and far below that of industry peers”.
The PTPA’s proposed solution is a new three-tiered professional structure, spearheaded by the Pinnacle Tour, which, in addition to a 50% increase, would offer equal prize money to men and women, with the top 100 players guaranteed $1 million (£745,000) in the first year, rising to $2.3 million after 10 years. Future Tennis is also considering the sport unifying under one governing body – there are three in the form of the ATP, WTA and the International Tennis Federation – but there are no details on how to achieve that.
The PTPA declined to comment when contacted.
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