The 2023 US Open kicked off on Monday at the USTA Billie Jean King National Tennis Center in Flushing Meadows, New York.
This will be the 143rd edition of the tournament and there will be more on the line than ever before.
The US Open offers the biggest purse available among the four Grand Slam tournaments. In 2023, the US Open purse is valued at $65 million, which was increased by 8 percent compared to last year.
Expected to bring in over $500 million in revenue in 2023, the US Open is also considered one of the most successful tournaments in tennis. Most of the prize money comes from sponsorship deals, but the Grand Slam has also been able to earn revenue in a number of different ways, including ticket sales, concessions, broadcasting rights, and more.
Let’s break down how the US Open has grown into one of the most lucrative tournaments in tennis.
US Open Grand Slam Purses
The US Open was one of the first tournaments to offer equal prize money for both men’s and women’s draw. In fact, the Grand Slam has been offering equal prize money for 50 years.
In 2023, the US Open will feature a $65 million purse, up 8 percent year-over-year. It’s the largest purse of the four Grand Slams and the winner will be taking home a cool $3 million payout.
Since 1973, the US Open has been offering the same amount for the men’s and women’s draw after defending US Open champion Billie Jean King rallied other players and threatened to boycott unless equal pay was given.
The US Open is able to offer a huge purse due to corporate sponsorships, its annual broadcasting deal and the event’s jaw-dropping annual revenue figures.
US Open 2023 Projected to Bring in $500 Million in Revenue
The US Open is expected to pull in $500 million in revenue this year which includes ticket sales and concessions, according to Joe Pompliano.
Last year, the tournament set a new record with over 776,120 fans in attendance over the span of two weeks. As a result, the USTA generated over $150 million in ticket revenue.
They also were able to sell 405,000 Honey Deuce drinks, which is the official cocktail of the US Open. The drinks sell for about $22 dollars, which equates to $8.9 million in cocktail sales alone.
US Open Sponsors & Broadcasting Rights
To bring the tournament to life, the US Open works with 24 sponsors, including famous brands like Rolex, Cadillac, Polo Ralph-Lauren, J.P Morgan, American Express, Grey Goose, Emirates, and more.
The US Open also brings in money through broadcasting rights.
Currently, ESPN has the rights to broadcast the US Open after paying the USTA $825 million over 11 years, or $75 million annually.
Tennis Betting Guides 2024
- Tennis Betting Guide – Discover Best Tennis Betting Sites in USA Ranked & Reviewed.
- The Latest Tennis Odds – Compare the Best Tennis Betting Odds.
- Free Tennis Picks – Check Expert Tennis Betting Picks & Predictions.
- Best Offshore Betting Sites – Compare Top Offshore Online Betting Sites.
- Best Bitcoin Betting Sites – Top-rated Bitcoin Sportsbooks in USA Ranked & Reviewed.
Add The Sports Daily to your Google News Feed!
