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Australian Open tennis tournament increases prize money by 13 percent

Melbourne, December 30, 2023, The Europe Today: Australian Open tennis officials have disclosed a significant augmentation in prize money, amounting to A$10 million ($6.8 million), for the upcoming tournament scheduled to commence on January 14 at Melbourne Park. In an announcement on Friday, tournament director Craig Tiley stated that the Grand Slam event is now set to offer a total prize pool of A$86.5 million ($58.4 million). This move is aligned with the tournament’s commitment to enhancing rewards for players across various rounds. Notably, the U.S. Open had previously declared in August its own record-breaking increase in total prize money and player compensation, setting a new standard at $65 million, making it the highest among the four Grand Slam tournaments. Tiley highlighted, “We’ve upped prize money for every round at the Australian Open with the major increases in qualifying and the early rounds of singles and doubles.”

In Melbourne, significant adjustments to prize money distribution have been outlined for the upcoming Australian Open. First-round qualifiers will experience a notable 20% increase, with their earnings set at A$31,250 (approximately $21,000). The men’s and women’s singles champions are poised to receive A$3.15 million each (about $2.15 million). The women’s final, featuring Aryna Sabalenka as the defending champion, is slated for January 27, while the men’s final, where Novak Djokovic holds the defending title, is scheduled for January 28. These enhancements reflect the tournament’s commitment to promoting equitable rewards and recognition across various stages of the competition, ensuring an engaging and competitive atmosphere for participants.