eBusiness Weekly
The Davis Cup final sees Canada and Spain battle it out for glory in Madrid – but how much prize money is involved?
The Davis Cup underwent a transformation for the 2019 edition, with 18 teams competing over the new week-long format.
David Haggerty, the president of the International Tennis Federation, brokered a new deal to reform the tournament last year, which he said would provide an extra £19 million per year for tennis development across the globe.
The ITF has licensed the rights to the week-long Davis Cup finals to Kosmos for 25 years, with the investment group promising to pump about £97 million into the sport each year.
“We used Deloitte as an outside third party to look at the numbers and the business plan, so we had the comfort as we were making the decision,” Haggerty said.
“It is a significant and vast amount of money which we are excited about, but we know the economics are there for them to be able to make some money as well.”
Of the £62 million earmarked for the Davis Cup, £16 million goes towards prize money, with £12 million going into marketing and staging costs. — www.express.co.uk
