London set to lose ATP Finals with Turin favourites to host from 2021
London is set to lose hosting rights to the ATP Finals, the lucrative season-ending tournament in men’s tennis, after 2020, with Turin in Italy the favourites to end the event’s 12-year stay in the UK capital.
The O2 Arena in London has been home to the ATP Finals since 2009 but after launching a global tender process last year, which was managed by the Sport Business Group at Deloitte, the global advisory firm, the ATP has decided to choose a new host from 2021.
Reports in Italy claim the Italian government is willing to pay €15 million ($17 million) per year to secure the event in a five-year deal, making the total contribution close to $85 million.
London was also facing competition from Manchester in the north west of England, Singapore and Tokyo in Japan to retain hosting rights to the ATP Finals.
Tokyo, which hosted the inaugural finals back in 1970, is also considered to be a strong contender.
Some 40 cities worldwide expressed an interest in hosting the tournament when the bid process formally opened in August.
Singapore wanted the ATP Finals to fill the gap in its end-of-season tennis calendar, with the women's WTA Finals to switch to Shenzhen in China in a 10-year deal starting in October.
An official announcement by the ATP is expected in due course.
The ATP Finals has been deemed a major economic and commercial success over the course of its long stint in London, with the 17,500-seat O2 venue a regular sell-out and over 250,000 people attending each year.
The ATP Finals generates 15 per cent of the ATP’s revenues, which came in at $144 million in the last financial year.
Prior to the ATP Finals moving to London the event was held at a variety of venues, including a 13-year spell at New York’s Madison Square Garden in the 1970s and 1980s. Lisbon, Sydney, Houston and Shanghai all played host in the 2000s.Sportcal