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View Full Version : Should the WTA and the ITF dump the dollar for the euro?


StephenUK
Nov 26th, 2007, 11:49 PM
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?)

Nicolás89
Nov 26th, 2007, 11:52 PM
they use euros when players play on europe hon ;)

SIN DIOS NI LEY
Nov 26th, 2007, 11:54 PM
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

StephenUK
Nov 26th, 2007, 11:58 PM
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?

Merton
Nov 27th, 2007, 03:25 AM
The nominal currency is completely irrelevant, everybody can convert to the currency of choice easily.

DutchieGirl
Nov 27th, 2007, 05:07 AM
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. ;)

In The Zone
Nov 27th, 2007, 05:13 AM
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.

RVD
Nov 27th, 2007, 06:59 AM
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. :scratch:

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

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

A_S
Nov 27th, 2007, 07:24 AM
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.

DimaDinosaur
Nov 27th, 2007, 07:25 AM
Poor Euros

DutchieGirl
Nov 27th, 2007, 10:41 AM
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.

azza
Nov 27th, 2007, 10:46 AM
Yes please i think like 1 Euro is like AUD$4 or im completley wrong but wateva.

DutchieGirl
Nov 27th, 2007, 10:48 AM
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. ;)

roelc
Nov 27th, 2007, 10:49 AM
some people really don't understand :D

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

chuvack
Nov 27th, 2007, 10:50 AM
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.

TheBoiledEgg
Nov 27th, 2007, 11:49 AM
ATP pay out and value all their European events in the Euro (apart from ones in UK)

esquímaux
Nov 27th, 2007, 12:00 PM
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. :scratch:

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

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

;) ;) :esquiislivingthegoodlifeinJapan:

Il Primo!
Nov 27th, 2007, 03:54 PM
If a business man like my boy Jay-Z shows some 500Eu bills in his fantabulous Blue Magicvideo, I'd say yes!

Mercury Rising
Nov 27th, 2007, 06:55 PM
It was in alot of Belgian papers during the masters that Justine had earned more dollars than kim a few years ago but she didn't had as many euro's and thus less money in Europe. So it certainly does matter. Not that I care about the topplayers earning a little less, they have enough money :D

StephenUK
Nov 27th, 2007, 11:37 PM
It was in alot of Belgian papers during the masters that Justine had earned more dollars than kim a few years ago but she didn't had as many euro's and thus less money in Europe. So it certainly does matter. Not that I care about the topplayers earning a little less, they have enough money :D

That is exactly what I am saying...if the dollar continues to lose its value, it means that the overall prize money is going down for everyone, as even US players will suffer from higher expenses when travelling abroad. Changing to the euro could solve this problem - I suppose it is just a question of whether the dollar's continued crash against all major currencies is a long-term or a short-term situation; personally I see the euro as staying strong as it is the first international currency to offer a real globally recognised alternative to the dollar.

njnetswill
Nov 28th, 2007, 12:10 AM
It should not just be whichever currency is worth more. We might as well switch to the British Pound then. Currency values go through natural cycles. The USD will most likely rise in value sometime in the future, this is not a panic freefall effect.

Philip
Nov 28th, 2007, 02:34 AM
So you're saying that if, for example, the tour changed to British £... a 25K would in a away become a 50K (because the british £ is worth about double to the dollar... sorry i cant work in euros :P)

Its a nice idea for players i guess.

But really... does it matter? (for the players i guess, but for the fans? not really).

RJWCapriati
Nov 28th, 2007, 02:39 AM
Stick with what they have :)

treufreund
Nov 28th, 2007, 03:48 AM
Wow a lot of people have totally missed the original poster's point. If you change to the Euro and pay out the SAME AMOUNT OF MONEY in Euro currency (not the same number but the same AMOUNT meaning an equivalent) and *IF* the dollar continued to weakent then it would be ADVANTAGEOUS for the players to receive their payment in EUROS since the value of the dollar would have continued to fall and would thus be worth less on the worldwide market.

DutchieGirl
Nov 28th, 2007, 05:52 AM
Wow a lot of people have totally missed the original poster's point. If you change to the Euro and pay out the SAME AMOUNT OF MONEY in Euro currency (not the same number but the same AMOUNT meaning an equivalent) and *IF* the dollar continued to weakent then it would be ADVANTAGEOUS for the players to receive their payment in EUROS since the value of the dollar would have continued to fall and would thus be worth less on the worldwide market.

Yes - I pointed that out previously, but people seemed to think it was just about swapping the USD amount for euro's in the equivalent amount. ;)

bie
Nov 28th, 2007, 10:00 AM
They could change it for the more consistent one.
Especially the lower ranked players would like to gain more.
For the top it is of less importance, I think, altough ... winning more is always better.

chuvack
Nov 28th, 2007, 10:05 AM
That is exactly what I am saying...if the dollar continues to lose its value, it means that the overall prize money is going down for everyone, as even US players will suffer from higher expenses when travelling abroad. Changing to the euro could solve this problem - I suppose it is just a question of whether the dollar's continued crash against all major currencies is a long-term or a short-term situation; personally I see the euro as staying strong as it is the first international currency to offer a real globally recognised alternative to the dollar.


you are missing the point. It's a nice fantasy, but in fact it would not happen in this period, because changing prize money to Euro's would be much more expensive for sponsors and they would never agree, at least not now with the Euro so strong.

Anyway the dollar goes up and down, in a few years it quite likely to rise back up, so the change would only be temproary.

Anyone else here is old enough to remember 1992-1993, when the dollar sunk down to 80 yen and 1.15 D-Marks? And then it came back very strong.

AnDyDog621
Nov 28th, 2007, 10:48 AM
WTA and ITF should not dump the dollar for the Euro.

Yes, it is unfortunate that players who play in the 10k and 25k are actually getting less Euros than they did last year, but exchange rates are always changing.

It would cost too much money and time for the whole system to change. Also, I not sure if the WTA and ITF has the authority to change their standard from Dollars to Euros.

We just have to see how the US and FOREX market does. If the dollar depreciate more to the Euro, the government will have to intervene to stabilize the exchange rate.