July 5, 2011 -- Updated 1724 GMT (0124 HKT)
Roger Federer was crowned the ATP World Tour Finals champion in 2010.
(CNN) -- The ATP have announced an increase in the prize fund available to male tennis stars on the ATP World Tour which will see the total amount available exceed $90 million by 2014.
The ATP's annual season-ending World Tour Finals event -- held at London's O2 Arena since 2009 -- will see a 30% increase in prize money, with the amount given to the eight participating players set to soar to $6.5m over the next three years.
The prize money in the Tour's nine Masters 1000 events, which take place in cities such as Cincinnati, Paris, Rome and Shanghai, will also receive a significant boost with a 9% rise.
A bonus pool accessible to the world's top 12 players will rise by 33%, from $6m to $8m.
In a statement on their official web site, the organization said the monetary increase reflects the sport's current wealth of talent.
"We are privileged to be experiencing a golden era in men's professional tennis," said the body's executive chairman and president Adam Helfant.
"It is fitting that the commitment and excellence of the players is recognized and rewarded in this way.
"We are very pleased to have reached this agreement that reflects the fact that business across the ATP World Tour is stronger than ever."
The planned increases will not affect the prize fund at the tennis season's four grand slams -- The Australian, U.S., and French Opens and Wimbledon.
The 2010 World Tour Finals had a prize fund of $5m, with the number-three ranked Roger Federer defeating reigning French Open champion Rafael Nadal to clinch the title.
After his triumph at Roland Garros, Nadal has guaranteed his place in this year's O2 Arena showpiece alongside newly-crowned world number one and Wimbledon champion Novak Djokovic.
Credit: CNN (www.cnn.com)
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