The solution would be for every player, up to the 300th or 400th in the rankings, to receive an allocation of $100,000," suggests Daniel.
Interviewed by the Financial Times, Taro Daniel discussed the financial life of a professional tennis player and the challenges it can entail.
So far this year, the Japanese player has earned around $180,000. But those earnings are quickly offset by expenses.
He states: "The figure you see is completely unrealistic. First, you earn all that money abroad, so they deduct withholding taxes at the source.
Then, tournaments cover your hotel room, but not your coach’s.
My credit card statement amounts to at least $20,000 per month just for operational expenses (hotel, food, flights), not including the salaries I pay my team…
As a tennis player, you’re like a small business, but all your employees are traveling all the time."
For Daniel, a better distribution of earnings is crucial so lower-ranked players can continue competing: "Grand Slam tournaments generate between $350 and $500 million per year.
I think the solution would be for every player up to the 300th or 400th in the rankings to receive a $100,000 allocation, distributed between the Grand Slams and the ATP or WTA.
That would amount to $8 million per organization, which isn’t unreasonable.
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