ITF Reports Robust Financial Health with Surge in 2022 Revenue

The International Tennis Federation (ITF) announced on Wednesday that its revenues for 2022 have exceeded pre-COVID levels, witnessing a remarkable year-on-year increase of 47.6% to reach $98.3 million.

According to the world governing body of tennis, it has maintained substantial reserves to ensure financial sustainability and support strategic projects and investments, with a total reserve of $40.2 million as of December 31st of the previous year.

ITF President David Haggerty emphasized the robustness of the organization's finances, stating that a significant portion of its income, $85 million, was directed towards contributing to the global game, representing a 30.2% increase from the $65.3 million contributed in the pandemic-affected year of 2021.

Haggerty expressed excitement about the future of tennis, particularly its commitment to gender parity and international development.

The ITF credited the introduction of 'ITF2024,' its long-term plan for sustainable growth launched in mid-2016, for driving a substantial improvement in its financial performance, with a reinvestment in tennis of $41.5 million, reflecting a growth of 95.4% since the inception of the plan.

ITF CEO Kelly Fairweather disclosed that they had exceeded their pre-pandemic revenues by more than 10% in 2022, enabling a reinvestment of $85 million back into tennis. This reinvestment included $12 million for international development activities and $19 million to provide opportunities for people to compete at all levels worldwide.

In its annual review, the ITF highlighted the impressive statistics of the 2022 World Tennis Tour, which saw 10,216 players participating in 1,059 tournaments across 65 countries, with events divided equally between men's and women's games (526 and 533 events). Last year, players competed for a record $25 million in total prize money, according to the ITF.