Should the WTA and the ITF dump the dollar for the euro? - TennisForum.com

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post #1 of 28 (permalink) Old Nov 26th, 2007, 10:49 PM Thread Starter
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Should the WTA and the ITF dump the dollar for the euro?

Given the fact that the dollar has been slumping all year against the euro, amongst other currencies, I was wondering what any other posters thought about the idea of the tour doing a Gisele and switching so that all prize money was henceforth measured in euros rather than dollars. The currency crash seems especially cruel to those poor girls scratching a 'living' in $10k ITF events - prize money which seems to have been the same for the last 20 years (how can this be?)
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post #2 of 28 (permalink) Old Nov 26th, 2007, 10:52 PM
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Re: Should the WTA and the ITF dump the dollar for the euro?

they use euros when players play on europe hon

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post #3 of 28 (permalink) Old Nov 26th, 2007, 10:54 PM
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Re: Should the WTA and the ITF dump the dollar for the euro?

Nope

Dollars sound like a bigger amount of money than Euros

I prefer U$ 1 000 000 in prize money instead of 690 000 euros
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post #4 of 28 (permalink) Old Nov 26th, 2007, 10:58 PM Thread Starter
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Re: Should the WTA and the ITF dump the dollar for the euro?

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Originally Posted by Czar Nicholás I View Post
they use euros when players play on europe hon
Your Imperial Majesty, I am sure that is true, but that is the presumably the euro equivalent of the dollar amount, so that that means that a $25k dollar event played last week in Sintra will be worth rather less than one played a few months ago...yes?
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post #5 of 28 (permalink) Old Nov 27th, 2007, 02:25 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

The nominal currency is completely irrelevant, everybody can convert to the currency of choice easily.
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post #6 of 28 (permalink) Old Nov 27th, 2007, 04:07 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

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Originally Posted by Merton View Post
The nominal currency is completely irrelevant, everybody can convert to the currency of choice easily.
Actually, it is relevant. ALL ITF tourneys are worked out price wise in USD... so all tourneys listed as $100k are $100k in USD )$50k = $50k in USD, etc), and then prizemoney is paid in local currency depending on the exchange rate of the day. So if the tourneys were now to be $25k in euro's that is clearly relevant, as they players would be earning more money.

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post #7 of 28 (permalink) Old Nov 27th, 2007, 04:13 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

Yes, but if they were euros, they wouldn't be 25K, they'd be MUCH MUCH less.

That's the point. There's no point in changing the currency, it can be just exchanged to whatever it needs to be.
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post #8 of 28 (permalink) Old Nov 27th, 2007, 05:59 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

The short answer is... No.

At any rate, I was under the impression that the monetary payout is in Euros when playing in countries that are a part of the European Union [Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia and Finland] regardless.

note: Please excuse me if I left a country out.

Personally, as an American, I'd like to get my payout in Yen.
I mean, seriously, have you seen the Yen to USD rate lately?!?!? OUCH & !!!
http://www.forecasts.org/yen.htm

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post #9 of 28 (permalink) Old Nov 27th, 2007, 06:24 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

I think the tour as a whole should focus a lot less on america i have to admit, but there is no point changing the prize structure as it would require a complete overhall. The numbers in dollers are nice and rounded figures, all of which make sense and display a clear structure. If you were to change to another currency that would go completly out the window. You can't just change a $25k doller event into a 25k euro, you could round it down, but not up, up is impossible because of sponsorship and raising the money... Simple fact is it wouldnt work and you would either leave the players less well off by rounding down to a figure which fits into a nice pay/earnings structure or you would end up with no desernable structure at all, which isnt good for the game.

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post #10 of 28 (permalink) Old Nov 27th, 2007, 06:25 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

Poor Euros
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post #11 of 28 (permalink) Old Nov 27th, 2007, 09:41 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

Quote:
Originally Posted by In The Zone View Post
Yes, but if they were euros, they wouldn't be 25K, they'd be MUCH MUCH less.

That's the point. There's no point in changing the currency, it can be just exchanged to whatever it needs to be.
But (I think) the original poster was meaning to change the dollars from USD into the same amount but for euro's. At least that's how I read it - otherwise, then yeah it's not relevant.

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post #12 of 28 (permalink) Old Nov 27th, 2007, 09:46 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

Yes please i think like 1 Euro is like AUD$4 or im completley wrong but wateva.
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post #13 of 28 (permalink) Old Nov 27th, 2007, 09:48 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

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Originally Posted by azza View Post
Yes please i think like 1 Euro is like AUD$4 or im completley wrong but wateva.
umm yes, you are completely wrong. You wouldn't even get $2 for 1 euro.

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post #14 of 28 (permalink) Old Nov 27th, 2007, 09:49 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

some people really don't understand

a nice example is this:

if justine wouldn't have survived the round robin stage at the YEC, she would have earned the largest amount of money in one year IN DOLLARS
but kim clijsters would still have the largest amount of money in one year IN EUROS

that's just because the dollar now is much lower compared to the euro as it was in 2005
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post #15 of 28 (permalink) Old Nov 27th, 2007, 09:50 AM
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Re: Should the WTA and the ITF dump the dollar for the euro?

Quote:
Originally Posted by StephenUK View Post
Given the fact that the dollar has been slumping all year against the euro, amongst other currencies, I was wondering what any other posters thought about the idea of the tour doing a Gisele and switching so that all prize money was henceforth measured in euros rather than dollars. The currency crash seems especially cruel to those poor girls scratching a 'living' in $10k ITF events - prize money which seems to have been the same for the last 20 years (how can this be?)


it would be a really expensive proposition to suddenly increase all prize money by 50 percent (euro currently rose to 1.49$ and should pass the 1.50$ marker soon). Euros dont grow on trees you know.

Although the prize money at the individual events has been the same for a very long time, you must also consider that the total number of ITF events worldwide has multplied by serveral times in this period. So the TOTAL prize money has been a big increase even after you account for inflation. Also the individual tournaments became more diluted and have a lower cut off.
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