Players and tournaments will share profits 50-50 from 2023 on the men’s ATP Tour while total prize money will surge thanks to an agreed expansion of top-tier tournaments, the global governing body of the men’s circuit announced on Thursday.

The ATP said its strategic plan for widespread reform has received the green light, in a move that is likely to end the bitter wrangling over prize money and profit-sharing in men's tennis.

This first phase of the ATP’s OneVision plan — primarily aimed at boosting revenue from media and television rights — was approved by its board after more than two years of deliberations. “Shifting everybody’s mind into the future has been the most difficult part,” ATP chairman Andrea Gaudenzi said.

A lack of transparency has long been a cause of friction between tournaments and players, and the issue flared again when the coronavirus pandemic forced cuts in prize money.

But starting next year players will have access to the audited financial statements of events, the 50-50 profit sharing formula will be implemented and there will be increased prize money and bonus pools due to the expansion of ATP 1000 events. Italian Gaudenzi, a former top-20 singles player, says the sport overly relies on ticket sales and needs structural change.

Masters tournaments in Indian Wells and Miami already take place as 12-day events with bigger draw sizes. Starting in 2023, the ATP Masters events in Madrid, Rome and Shanghai will also follow suit.