The upcoming Australian Open will award both the men’s and women’s singles champions almost AUS$3M as part of a record prize money pool that will be on offer.
A total of $76.5M will be available during the first Grand Slam of 2023 which is a 3.4% increase on the prize money pool at this year’s Australian Open. Increases have been made to every round of the tournament with those who lose in the first round receiving $106,250. Players participating in qualifying and the doubles tournaments will also receive a higher payment compared to 12 months ago.
“At the Australian Open we’ve upped prize money for every round from qualifying, through to the finals, with the major increases in the early rounds, where these substantial rewards help players invest in their own careers and in many cases, set themselves up for success throughout the year.” Tournament director Craig Tiley said in a statement.
Those who reach the quarter-final stage or better in the singles tournaments will make at least half a million in earnings. The 2023 singles winners will each earn $2,975,000 which is substantially more than the runner-ups who will take home $1,625,000.
Prize money at the Grand Slam has increased by 155% since 2013 when the tally was $30M. Furthermore, since Tiley became tournament director in 2007 the pool has expanded by 283%.
Across the entire Australian Summer period more than $100M will be issued via prize money at various tournaments. Organisers say the hike is the result of a record $76.5M the Australian Open made last January, as well as the addition of the United Cup. A mixed team event which has a prize money pool of $15M.
“It is critical to the continued success of the Australian tennis summer that we provide strong and relevant playing opportunities and ensure that the best players in the world are compensated appropriately,” Tiley commented.
“We want to ensure Australia is the launchpad for the global season and that we see as much of them as possible. They inspire us all to engage in this great sport as well as inspiring future generations.’
“We are delighted to have more than $100 million in prize money on offer across the Australian summer, along with more chances to compete across the country. We’ve worked tirelessly alongside the ATP and WTA to launch the exciting new United Cup, which includes its own significant ranking points and prize money, a further two WTA and ATP events in Adelaide, the Hobart International and an upgraded ATP 100 Challenger in Canberra.”
The Australian Open will begin on January 16th. Rafael Nadal is the reigning men’s champion and Ash Barty, who retired from the sport earlier this year, is the women’s.
Australian Open prize money breakdown (singles only)
- Winner – $2,975,000
- Runner-up – $1,625,000
- Semi-Finalists – $925,000
- Quarter-Finalists – $555,250
- Round of 16 – $338,250
- Round of 32 – $227,925
- Round of 64 – $158,850
- Round of 128 – $106,250
NOTE: throughout this article, all the prize money mentioned is in Australian dollars.
