U.S. Open to Award Record $38.3 Million in Payouts as Sport Grows

In celebration of the U.S. Open, which kicks off on August 25, United States Tennis Association chairman, president and chief executive David Haggerty rings the opening bell at the New York Stock Exchange. With the Open set to pay a record $38.3 million in prize money this year, a nearly 12% rise from 2013, Haggerty explains to TheStreet's Brittany Umar what's driving the increase. He reveals where the Open derives most of its revenue and what tennis stars he expects to draw the biggest ticket sales this year. While golf is one sport that's been seeing a decline in participation in the U.S. recently, Haggerty says tennis is actually growing, and details what's being done to drive the sport forward.