Who were the highest-paid tennis stars of 2024?

Hi there! 🥯
In today’s edition, we’re diving into the business of tennis. 💰 Who were the highest-paid stars of 2024? And how does tennis stack up against other sports when it comes to revenue sharing? Let’s get into it.

• Tennis pros take home the smallest slice of the pie among all major sports. Tennis players take home a mere 17.5% of the sport’s $2.2 billion annual revenue — the lowest share across all major sports. On the other hand, NFL players earn 47%, NBA players take home 50%, and Premier League stars receive a whopping 61% of the total revenue earned by the sport.

• It’s a broken system. Unlike the NFL or the NBA, tennis lacks a unified governing body. The Grand Slams govern themselves, the ITF governs the Olympics and the Davis Cup, and the ATP manages other tournaments. Tournaments are left to fend for themselves, without the financial support of a centralized support.

• No employee benefits, just costs. Professional players in sports like basketball, football, and baseball are considered employees; this guarantees them certain rights like healthcare insurance, pension, among others. Tennis players, however, are considered independent contractors, not employees. This means no healthcare, no pension, and no labor protections. While players can decide their own schedules, they must also bear the financial burden of travel, housing, healthcare, and training.

• There’s no Collective Bargaining Agreement in tennis. Leagues like the NBA and the NFL also negotiate Collective Bargaining Agreements (CBAs) through powerful player unions. These agreements help ensure fair compensation for the players. Tennis? No labor protection, no CBAs, and therefore, poor financial outcomes for the players. All of this results in an economic model that can only support tennis’s top stars, while the majority of players struggle.

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