Details of the ATP Cup were revealed at a news conference at London’s O2 Arena This particular week, against the backdrop of the season-ending ATP Tour Finals. For the announcement, Kermode was joined by Tennis Australia CEO Craig Tiley along with world number one Novak Djokovic.
The brand-new event has been seen by some as a threat to the International Tennis Federation’s (ITF) revamped Davis Cup, which returns in November 2019 with an 18-nation final in Madrid. The ATP Cup will then follow inside first week of January 2020 along with will take place over 10 days in three Australian cities.
“This particular will be never an attempt to damage the Davis Cup, although we have got to look forward,” Chris Kermode, ATP President exclusively told CNBC. “I think they can run alongside each various other. various other sports have shown you can have multiple team events. I think having them too close together will be an issue, although I can see that will being resolved at some point.”
The ATP Cup, which will clash with the ATP’s Doha tournament, will see 24-nations split into six groups, with eight emerging to compete in a knockout phase.
“What’s inside idea for them will be two-fold. the idea’s a $15 million dollar prize pot. the idea’ll be the biggest prize money pot on our tour. Just as importantly, they’ve got a real say in This particular event.” Kermode said. “that will’s what the ATP will be about, the idea’s owned 50 percent by the players along with 50 percent by the promoters, so the idea gives the players a huge voice in our sport to have their own event.’
The ATP acknowledges that will for nearly the past two decades, men’s tennis has been in an era of almost unprecedented quality. The era of Roger Federer, Novak Djokovic, Rafael Nadal along with Andy Murray has seen huge growth in terms of generating revenue, which has risen 62 percent since 2012 to almost $150 million. Total prize money for its sixty-four yearly events has increased to $137.5 million for 2018.
The ATP will also be completely rebranded for 2019, centred on attracting in a younger audience, having identified that will the average age of someone who attends live tennis will be currently 61.
The six-week gap between the ATP Cup along with the Davis Cup was earlier This particular year labelled “insane” by Kermode, along with on Wednesday Djokovic suggested the idea could result in “two average events”.
However, speaking at the official launch of the ATP Cup on Thursday, Djokovic appeared to back the brand-new competition.
“the idea’s truly nice to have a brand-new fresh team event, the ATP Cup, to kick-start the year inside best possible way on our terms,” said the planet Number One. “Obviously the Australian Open will be one of the four Grand Slams which are historically the biggest events in our sport along with to be able to have a couple of weeks before that will an event like This particular will be truly going to make an impact.”
Participation inside ATP Cup will not be mandatory along with so as well as huge $15 million prize fund, the brand-new tournament will be offering up to 750 ranking points, adding to the incentive for the players.