The financial implications of the global coronavirus pandemic are being felt by everyone. In tennis, players and tournaments have lost a considerable amount of revenue. The tournament prize money is really important, especially for the lower-ranked players.
The tennis season recently resumed and the second Grand Slam of the resuming calendar, the French Open 2020, is almost here. The qualifying rounds of the French Open start on September 21 and the main draw matches begin on September 27.
The US Open 2020 which concluded a week ago had maintained 95% of the prize money from its 2019 edition. Following the US Open 2020, the French Open will also maintain around 89% of the prize money despite the tough financial climate.
Last year’s prize money figure stood at €42.66 million, and this year that number has gone down to €38 million. The French Open will lose a huge part of its revenue in tickets and merchandise, as only 5,000 spectators will be allowed in the stadium each day. In light of this, retaining €38 million is a huge achievement for the Grand Slam.
The pandemic has caused financial losses to lower-ranked players since they are solely dependent on the prize money from the tournaments. Since these tournaments haven’t happened in a while due to the pandemic, many players have suffered. Due to this, the French Open has increased the prize money in the qualifying rounds and the first round of the Grand Slam.
Increase in prize money for the earlier rounds of French Open 2020
In 2019, players got €7000, €12,250, and €24,000 in the first, second and third qualifying rounds, respectively. That has been increased to €10,000, €16,000, and €25,600 respectively. The first-round prize money which was €46,000 last year has been increased to €60,000.
The increase in prize money in the earlier rounds has caused a reduction in prize money received at the latter stages of the tournament. The prize money for the champion has reduced from €2,300,000 to €1,600,000. Similarly, there have been notable reductions for the finalist, semifinalists, quarterfinalists, and others.
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