Organisers of the men's professional tennis circuit also said the initiative would provide funding to up-and-coming players once they break into the world's top 125.

The 'Baseline' scheme ensures minimum income levels for players based on their ranking, with the ATP set to compensate for any shortfall in prize money earnings.

For the 2024 season, the "guaranteed threshold" for top-100 players will be $300,000 (£235,600). The amount drops to $150,000 for those ranked 101-175 and then $75,000 (£58,800) for any remaining players inside the top 250.

"This assurance will empower players to plan their seasons with greater certainty, focus on their game and invest in their teams," said the ATP.

It will also offer support to players who appear in "fewer than nine ATP Tour and Challenger Tour events in a season due to injury".

The financial aid available for those eligible is also linked to a player's ranking, starting at $200,000 for the top 100. The limit is $100,000 (£78,500) for places 101-175 and then $50,000 (£39,200) for the rest.

The ATP has pledged to pay advances on future winnings to players who reach the top 125 for the first time.

They will "have access to $200,000 (£157,000) of funding... paid in advance of the following season and offset against prize money earnings".

"Being a professional tennis player comes with incredible rewards, but it's also a challenging journey, especially for those starting their careers," said Grigor Dimitrov, a member of the ATP player advisory council.

"Baseline is a game-changer. Knowing that we have a safety net through the minimum guarantee and injury protection pillars gives us peace of mind, allowing us to focus on our game and strive for success."

The ATP is regularly criticised by players for the inequality between the top players who earn vast sums of money and those at the lower end of the rankings who struggle to make ends meet.