The Olympics have an important role in when comparing tennis players.
The Olympic Gold in singles is equally relevant than the Nitto ATP finals (formerly known as Masters Cup/World Tour Finals).
Are the Olympics and the Nitto ATP finals equally relevant? It is not a secret that the Nitto ATP Finals have been historically more relevant than the Olympic Gold in singles. But times changes, and right now it is a legitimate question.
Let us compare these two prestigious tournaments:
1) Historical relevance: the argument of the lack of historical relevance of the Olympics is
not valid. Following that logic, the Australian Open is irrelevant because historically many
great players like Borg or McEnroe largely ignored it. The fact that somerthing was irrelevant
in the past does not mean that is is irrelevant in the present.
2) Difficulty: The Nitto ATP Finals are played among the best 8 ATP players in the ranking. It makes
the draw extremely though. Every calendar year, there is an edition of this tournament. On the other hand, Olympic Games are played every four years. To stablish an analogy with football/soccer: what is more difficult to achieve the Champions League or the World Cup? Real Madrid has won 12 Champions League titles, but no national team has ever won the World Cup more than 5 times. So, even though the Nitto ATP finals are very difficult to win because of the quality of the opponents, the OG in singles is even more difficult to achieve because of the limited number of editions.
3) Correlation between ATP points and prestige of a tournament: the ATP gives 0 ATP points to the Olympic Gold winner. Murray, the last winner, won 0 ATP points. But, for example, Federer has 25 ATP 250 titles and 0 Olympic Gold in singles, which illustrates that the OG in singles is far more difficult to achieve than any ATP 250. Most people will agree that the Olympics represent a more prestigious tournament than any ATP 250 title. Subsequently, there is not always a correlation between ATP points and the prestige of a tournament.
4) Some non-ATG player won the Olympic Gold: Federer fans sometimes suggest that because X player (who is not an all-time great) won the Olympic Gold, the Olympic Gold lacks merit. According to that logic, the ATP Finals are not meritorious either, since multiple non-legends such as Álex Corretja, Grigor Dimitrov or Alexander Zverev have won it.
5) Current prestige among players: many all-time great players like Steffi Graf, Serena Williams, Agassi, Djokovic or Murray argue that the Olympic Gold Medal in singles is so prestigious or even more
than a GS.
Source:
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An Olympic Gold Medal in singles is not as relevant as a GS, but in modern tennis it is at least equally relevant as the Nitto ATP finals, a tournament played every year, while the Olympics are disputed every four years. The Olympic Gold Medal does not give the players any ATP points. Murray, the last winner, won 0 new ATP points. Players play both for their individual resume and their country. The Olympic Gold Medal in singles is like the World Cup of Football in terms of difficulty. In fact, it is even more difficult to win a Gold Medal in singles than winning a Grand Slam. Grand Slams are more prestigious and more relevant but not more difficult to achieve. Players can try to win a particular Grand Slam every year, which means they can try it 15 or 16 times in their career. But players can only try to win an
Olympic Gold Medal in singles 3 or 4 times in their career. For example, Federer lost to Haas in 2000, Berdych in 2004, Blake in 2008 and Murray in 2012. Even Federer found it impossible to win one. It shows how difficult it is to achieve. Before anyone start with the argument that some unknown player has won the Gold Medal, I will reply than Gaston Gaudio won a Grand Slam in 2004 and only a few people remember him.
Sampras participated in the 1992 Olympics, and Agassi won the Gold Medal in 1996. In the
90s, the Olympic Gold Medal started to be more relevant, but in the XXI century the Olympic
Gold in singles has acquired a new status as a relevant trophy in tennis. A great exaple of its
importance can be appreciated in how Djokovic cried of emotion and pain when Del Potro
beat him in the 2016 Summer Olympics.
In sum, both trophies are equally relevant. The Nitto ATP Finals are historically very relevant. The Nitto ATP finals are also disputed among the 8 players with highest ATP ranking. It makes pretty difficult draws. On the other hand, the Olympic Gold in singles is only played every four years, which makes it an extremely difficult trophy to achieve, even more than the ATP finals, because of the limited number of editions. And it is becoming more and more prestigious in the XXI century.
There is no objective reason to consider the ATP finals more relevant than the OG in singles, especially when the first one is played every year and the second one every four years, making it even more difficult to achieve.