The ATP admitted it had struggled to sign sponsors for the coming year since its one-time marketing partner ISL filed for bankruptcy but said the cutbacks were part of a budget restructuring that would enable it to operate effectively.
Last year, the ATP signed a $1.2bn (B1.3bn) ten-year-deal with ISL that guaranteed the ATP and its nine Masters Series tournaments $120m (B130m) a year in exchange for exclusive marketing rights.
But ISL never came close to realising the $150m (B163m) it believed it could garner from the sale of television and sponsorship packages annually.
The men's tennis organisation reclaimed all of its marketing rights and formed ATP Properties in July, but the tour was unable to sign significant new sponsors, nor make any massive TV deals.
But ATP vice president of communications Graeme Agars says the cutbacks were a "one-time restructure" and expected the ATP to have a balanced budget this year and next.
"The ISL guarantees have gone and while we have a good amount of that back we have less than we would if the ISL deal had continued," he said.
"Because the ISL demise happened effectively midway through this year, we’ve done a lot of things looking ahead, including setting up ATP Properties based in London, to take back all the rights and sell them. But we have only had a short period of time to do that.
"Some people say that because ISL is gone we have this huge problem. Well, we don’t because a lot of the marketing and rights have come back.
"It is obviously prudent with a downturn in the economy in 2002 to make adjustments so the organisation runs properly."
