How much money does the WTA stand to lose after suspending all tournaments in China?

WTA head Steve Simon recently announced the suspension of all WTA tournaments in China following a failure to receive assurances of a fair investigation into former doubles No. 1 Peng Shuai's sexual abuse allegations against the country's former Vice Premier Zhang Gaoli.

The move has earned widespread support from the tennis fraternity and has been hailed as an unprecedented challenge to China by international media.

But given the massive investment in the region, the bold move is set to have huge financial ramifications for the WTA.

Simon was one of the main architects behind the WTA's $42 million deal with China in 2018.

The investment meant that China would host as many as nine tour-level events in the calendar year. The country also signed up to host the prestigious WTA Finals, putting aside an additional $1 billion to promote women's tennis.

What does China bring to the table for women's tennis?

Ashleigh Barty took home the biggest winner's check in history after winning the 2019 WTA Finals

China doubled the prize money for the season-ending WTA Finals from $7 million in 2018 to 14 million in 2019. To put things in perspective, the 2019 ATP Finals only offered prize money of $9 million.

Ashleigh Barty, the woman who lifted the trophy in Shenzhen that year, also took home the biggest winner's check -- $3.7 million -- in the history of the sport. The tournament was not held in 2020 and was moved to Guadalajara in 2021 (given China's COVID-19 restrictions), but had a much smaller prize purse of $5 million.

Cash rich tournaments were also held in other Chinese cities including Beijing ($8.2 million), Wuhan ($2.8 million), Zhuhai ($2.4 million), and Zhengzhou ($1 million). Such was the magnitude of the deal that the WTA was dubbed 'WTAsia', with a dedicated 'Asian swing' that would follow the US Open in October.

Aryna Sabalenka with the 2019 Wuhan Open trophy

To think of all the work that Simon and Co. put into the China deal, which they have now suspended -- with apparent conviction -- gives an even clearer idea about the level of seriousness with which the WTA has viewed the entire Peng Shuai saga.

The financial ramifications for women's tennis, as we've already seen with the drastic drop in the prize money for the 2021 WTA Finals, could well prove to be catastrophic.

The leadership, including Simon, are well aware of the fallout. But in the WTA chairman's own words, the matter concerning Peng Shuai was, simply put, "bigger than business."

"When we have a young person who has the fortitude to step up and make these allegations," Simon said. "Knowing full well what the results of that are going to be, for us to not support that and demand justice as we go through it – we have to start as a world making decisions based upon what’s right or wrong, period."

"We can’t compromise that and we’re definitely willing to pull our business and deal with all the complications that comes with it," he continued. "Because this is bigger than the business."

What lies ahead for the WTA and Steve Simon?

The suspension of WTA tournaments based in China, inlcuding the WTA Finals, could go beyond 2022

The WTA website has already taken down the logo of the Chinese streaming platform iQiyi from its global partner's page. The current suspension could go well beyond just the 2022 season.

But as the WTA slowly looks to move into a new, China-free phase, it has a few promising leads that it can look to pursue.

Former Wimbledon champion Marion Bartoli recently revealed that she has been working with an investment fund to organize a WTA 1000 event in Bercy, which would be held over two weeks alongside the ATP's Paris Masters.

The successful execution of the WTA Finals in Guadalajara, which was put together at the last minute after the COVID-19-induced cancelation in Shenzhen, has inspired plenty of confidence in the leadership's ability to handle a crisis.

Bartoli expressed hope that with some cooperation and support from the WTA's peers, including those from the ATP, women's tennis can "calmly contemplate a future without China."

"Everything is extremely square and rigorous," Bartoli said. "The most important thing was that the ATP aligns. Obviously, such an overhaul will take several years. But if this deal is done, then the WTA can calmly contemplate a future without China."