ATP Finals 2023 prize money breakdown: How much will the players earn by participating in the year-end championships?

The 2023 ATP Finals will be contested from November 12-19 in Turin, Italy. The tournment is second only to the four Majors in terms of prestige attached to it. With the year's best eight players duking it out for the title, it's no wonder winning it comes with its own perks and rewards.

The tournament offers the most points after the Grand Slams, with an undefeated champion bagging 1,500 points. While the ATP Finals trailed the Majors in terms of prize money, it has now surpassed it, at least for the singles champion.

Novak Djokovic, Carlos Alcaraz, Daniil Medvedev, Jannik Sinner, Andrey Rublev, Stefanos Tsitsipas, Alexander Zverev, and Holger Rune make up the elite eight this time.

With the players all battling it out for a significant amount of prize money, here's a deep dive into their potential earnings at this year's ATP Finals:

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The 2023 ATP Finals champion could receive the biggest paycheck in tennis history

Novak Djokovic at the 2023 Paris Masters.

There's a record $15 million in prize money allotted for this year's ATP Finals. An undefeated champion will earn a massive $4,801,500 in prize money. In comparison, winning the US Open rewarded the singles champion with $3 million. Players start earning the big bucks just by being at the tournament.

There are usually two players on standby for mid-tournament withdrawals during the group stage. Even if they don't play a single match, they'll get $152,500 for their time.

As for the eight players who do contest, they'll receive $325,500 in participation fee. However, the sum is for three matches and will be adjusted accordingly based on the number of ties played. Playing one match will fetch them $162,750, while contesting two matches will nab them $244,125.

Each victory during the round-robin stage is worth $390,000. Players who win their semifinal match will get an additional $1,105,000, while winning the final will net them $2,201,000.

Novak Djokovic won last year's ATP Finals without losing a single group tie and walked away $4,740,300 richer. It was the highest payout for a tournament winner in the history of tennis. Should he repeat the feat this time, he'll break his own record.

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The 2023 ATP Finals has boosted the doubles prize money as well

Joe Salisbury (L) and Rajeev Ram at the 2023 US Open

The tournament has offered a lucrative deal for doubles teams as well. Just like Djokovic, last year's champions in doubles created their own record at the tournament. Rajeev Ram and Joe Salisbury secured a $930,300 paycheck in 2022, the highest in doubles history.

An undefeated team could surpass that benchmark this year as they'll earn $943,650 for going 5-0 in the tournament. The alternates will get $50,850, while the contesting teams will receive $132,000 as participation fee.

Every victor during the group stage will add $95,000 to their bank balance, with a semifinal win being worth $175,650. Winning the final will reward the team with $351,000. The prize money is split evenly between the team members.