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The Financial Burden Faced by Grassroots Golfers and ATP’s Minimum Income Guarantee Plan

According to media statistics, a total of nearly 100 male and female tennis players (58 men and 39 women) will win more than US$1 million (approximately HK$7.84 million) in prize money in various singles and doubles events in 2022. “First Sister” Serviyada, last year’s bonus was even closer to US$10 million (approximately HK$78.4 million). However, behind the scene, ESPN, a famous sports media, revealed the cruel reality of “basic golfers” bearing heavy financial burdens in order to compete in a special report in January this year.

Since most grassroots golfers have no income from advertising endorsements, but also have to bear expenses such as travel expenses, personal trainers and physical therapists, whether to play in various competitions non-stop, it is a dilemma for such golfers: go back early It is true that the government is “uncomfortable to buy with money”; if the accident enters the later stage, the players may still lose their budget because they did not anticipate the extra expenses of entourage or accommodation. There are even players who, knowing that they are injured and have no hope of winning, still have to play for the appearance fee of the game, or register for all singles and doubles events, which brings unnecessary physical and mental burdens to the players. The latest minimum income guarantee plan announced by the ATP official is a great boon for marginal players.

According to ATP officials, this plan to guarantee the minimum income of the top 250 professional golfers in the world will be officially launched in 2024 for a period of three years. For the top 100 golfers, ATP will guarantee an annual income of US$300,000 (approximately HK$2.35 million), for players ranked 101 to 175 the guaranteed annual income will be US$150,000 (approximately HK$1.18 million). For players with 176 to 250 players, the insured amount is US$75,000 (approximately HK$588,000) per year. Even if a player plays less than 9 games due to injury in the whole season, ATP will still adjust his annual income guarantee to a minimum of 50,000 (about 392,000 Hong Kong dollars) and a maximum of 200,000 US dollars (about 1.57 million Hong Kong dollars) according to his world ranking. In addition, if a newly promoted player breaks into the top 125 in the world for the first time, he can also advance his guaranteed income to meet his immediate needs. ATP President Andrea Gaudenzi said in a statement: “This program is absolutely conducive to creating an environment for players to focus on their game and thrive. I certainly hope that in a few years time, the scale of the program will become larger.”

In addition to the implementation of the basic salary system, the US Open, the “Grand Slam” tournament that will be staged at the end of this month, will also increase its total prize money this year to US$65 million (approximately HK$510 million), an increase of 8% over last year. On the other hand, the legendary female tennis player “Sweetie” Serena Williams, who announced her retirement last year, announced the day before yesterday that she gave birth to her second baby girl, named Adira River.

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2023-08-23 14:48:00

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